In today’s ever-changing world of eCommerce, many wonder if eBay still holds its value as a platform for selling items. The answer is yes! When approached with the right strategies and knowledge, eBay can serve as an effective and profitable side hustle. There is a market for virtually everything on eBay, from collectibles to clothing, and finding the right buyers is the key to success. This article will explore some of the best strategies and tips to make your eBay selling journey a profitable one.
While eBay has its drawbacks, they are entirely avoidable. With a little effort and investment in your selling skills, you can side-step the pitfalls and unlock the full potential of this popular online marketplace. This comprehensive guide covers everything from finding the best products to sell and understanding your buyers, to optimizing your listings and creating trust throughout the selling process.
Key Takeaways
- eBay remains a viable and potentially profitable platform for selling items when approached with the right strategies.
- Successful selling on eBay involves finding the best products, understanding your target audience, and optimizing your listings.
- Avoiding common pitfalls and investing in your selling skills can lead to a successful side hustle on eBay.
What is eBay?
eBay stands as a prominent online marketplace that enables buyers and sellers to connect and engage in transactions. Established by Pierre Omidyar, eBay originally functioned as an auction-based website and has since grown into a powerful eCommerce platform, second only to Amazon.
As a pioneer in the eCommerce industry, eBay specializes in consumer-to-consumer sales and auctions and remains a leading platform, especially for niche markets such as collectibles.
Interesting facts about eBay include:
- It is the second most visited eCommerce website globally, attracting 590 million visits in July 2022.
- eBay ranks behind Amazon as the retail platform with the highest mobile traffic, boasting 307 million unique visitors each month.
Founded in 1995, eBay does not directly sell products. Instead, it allows users to list their offerings. The platform also serves as a sales channel for several major brands like Apple, Samsung, Asus, Diane Von Furstenberg, and Nintendo.
Over the years, eBay has evolved from its modest roots to become a multi-million-dollar business with millions of daily transactions.
Signing up for an eBay account is complimentary. As a seller, you may choose between a personal account or a business account, depending on your store’s scale. Keep in mind that listing fees will apply, determined by the products’ prices and listing durations.
Why is eBay Still a Good Side Hustle?
Despite the competition in the eCommerce world, eBay remains a popular choice for those looking to make extra income. Here’s why eBay is an ideal side hustle platform:
- With 10.29% of visits, eBay ranks as one of the leading eCommerce sites in America, just behind Amazon.
- Catering to 138 million buyers across 190 countries, eBay’s global reach expands your marketplace and attracts buyers for collectibles and niche products.
- eBay enables you to buy or sell products locally, nationally, or internationally using the platform’s zip code feature.
- eBay’s customer service is known for being exceptional, benefiting both buyers and sellers throughout their transactions.
- Its user-friendly platform, with minimal barriers to entry, allows individuals from various backgrounds to build their brand identity and profit quickly.
To boost your eBay side hustle, consider flipping – buying items at low prices and reselling them for a higher price. Many eBay success stories originate from reselling unique finds from flea markets and second-hand shops. In conclusion, eBay’s international reach, user-friendly platform, and lucrative reselling opportunities make it an ideal side hustle in 2023.
What’s the Best Way to Sell on eBay?
Utilize Zik Analytics to Discover Top Products to Sell
Zik Analytics is a powerful product research tool that quickly identifies the best products to sell on eBay. This software provides key metrics for eBay product research, determining popular niches, gauging demand, analyzing competition, and obtaining price and keyword data.
Understand Your Buyers
Knowing your buyers and their needs is vital for the success of your eBay store. Researching buyer personas helps you identify fast-moving products, increase revenue, and build a loyal customer base.
Determine Pricing Based on Completed eBay Listings
Manually checking the cost of sold items helps you set the right price for your products. To locate completed listings, search for similar items on eBay, filter using “Completed Items” under “Show Only,” and study the sold listings to gauge how much buyers are willing to pay.
Optimize Product Descriptions for SEO
Create detailed, keyword-rich product descriptions to help your listings stand out among the millions of active eBay listings. Make sure to frontload your description with primary keywords, generic search terms, and product-specific terms.
Capture Outstanding Photos That Stand Out
High-quality photos are essential for your eBay listings. Take original photos of your product against a plain backdrop, from various perspectives, and ensure any defects are visible. Show the item’s size by comparing it to a familiar object, and maintain consistency across your listings.
Establish a Listing Schedule
Regularly add new listings to keep shoppers engaged. Instead of listing all products at once, schedule daily listings using eBay’s listing tool, which helps you create accurate and consistent product descriptions.
Build Trust Throughout the Selling Process
As a new eBay seller, it’s crucial to establish trust with buyers. Focus on building trust throughout the entire selling process by providing quality products, outstanding customer service, and transparent communication.
How Much Does It Cost to Sell on eBay?
Comparing Fees for Sellers on Amazon and eBay
When comparing fees for sellers on Amazon and eBay, it’s evident that eBay is generally more affordable. A standard eBay account typically charges 9.15% while Amazon charges 15% plus an additional $0.99 per item. However, these percentages can vary depending on the product category. It’s crucial to check both platforms’ fees for your specific product category to decide which one is financially beneficial for your business.
eBay’s Fee Reduction in 2013
eBay implemented a reduced and simplified fee structure in March 2013 to stay competitive in the quickly evolving e-commerce market. The new guidelines offered free monthly listings to sellers depending on their store type:
- Sellers without a store – 50
- Basic Store – 150
- Premium Store – 500
- Anchor Store – 2500
The final value fee structure was also simplified to flat rates, ranging from less than 4% to not more than 9%, with a maximum of $250. For nonstore owners, the rate was set at 10%. eBay made these changes to decrease seller fees in highly competitive categories while maintaining or increasing fees for less competitive ones.
What Sells Best on eBay?
When looking to sell on eBay, some of the top-performing items include smartwatches, screen protectors, Bluetooth speakers, hoodies, USB cables, dumbbells, reading glasses, and various types of jewelry, particularly necklaces. You’ll also find success in categories like collectibles, toys, hobbies, video games, mobile phones and accessories, health and beauty, home and garden, automotive, and clothing and accessories for both men and women. Keep in mind that seasonal shifts and regional differences can also impact sales, so always stay aware of these factors.
Resources for Selling on eBay
To ensure success in your eBay business, it’s crucial to source your products wisely. Here are some methods to help you stock your eBay store:
- Retail Arbitrage: Buy products from online retailers or physical stores and resell them on eBay at a higher price. This method helps you take advantage of temporary discounts or clearance sales.
- Dropshipping: Partner with a third-party supplier who will fulfill orders and ship products directly to your customers. This way, you don’t need to maintain inventory or handle shipping logistics.
- White Labeling: Purchase generic products from manufacturers, brand them with your own label, and sell them on eBay. This approach allows you to create and market your own branded products.
- Wholesale: Buy products directly from manufacturers at a lower cost and resell them on eBay for a profit. This method typically requires a larger upfront investment but can lead to higher returns.
Before committing to any product, conduct thorough research on its market value, demand, and competition to minimize the risk of unsold inventory. Don’t forget to set up your eBay account, either personal or business, and explore international sales opportunities. Additionally, consider using PayPal or similar payment services to facilitate transactions, and utilize eBay’s mobile app and customer service resources to optimize your selling experience.
Do People Still Use eBay?
Absolutely! Although eBay has lost some market share to other large e-commerce platforms like Amazon, it remains a popular choice for purchasing collectibles, vintage items, and used products. In fact, eBay ranks second in the United States for monthly visits, outperforming other well-known marketplaces such as:
- Walmart
- Etsy
- AliExpress
- Target
- Wayfair
So, rest assured, eBay continues to attract millions of customers and presents a valuable opportunity for sellers to connect with them.
What Can and Can’t You Sell on eBay?
As an eBay seller, it’s crucial to familiarize yourself with items that are allowed and disallowed on the platform. Prohibited items include:
- Illegal goods, such as drugs, firearms, weapons, prescription medication, and stolen property
- Medical devices
- CB and HAM radios
- Specific electronically delivered goods, including certain software keys
- Bootleg media
- Offensive material
- Hazardous materials
- Alcohol
- Fake items
- Restricted-use pesticides
- Unlawful, explicit content
This is not an all-encompassing list. For a comprehensive rundown of prohibited items, refer to eBay’s website.
Wrapping Up – Is it Worth Selling on eBay?
eBay remains a viable platform for beginning an eCommerce venture or simply selling a few items you’ve acquired. Initializing your eBay business doesn’t demand a massive investment; anything from a few dollars to $100 or more (if possible) would suffice.
eBay excels as a seller-oriented platform, especially for arbitrage sellers. The platform has evolved beyond being merely an online garage sale, now serving as a well-established eCommerce platform for niche categories such as vintage items and collectibles.
Important Point: To have a successful eBay store, you must research your target market and select the appropriate tools. Only after comprehensive research should you decide to sell on this platform.
Success is certainly attainable on eBay. In 2020, the number of eBay millionaires increased by over a third. By adhering to expert advice, conducting thorough analysis, and selling in-demand products, you could potentially become the next eBay prodigy.
To learn more, continue to our detailed guide on the 15 best things to sell on eBay.
