4 Critical Mistakes That Cost You Profits on eBay

4 Critical Mistakes That Cost You Profits on eBay

In a short time, eBay has established itself as the go-to marketplace for all 177 million of its active users. Online business is a stable way of life for many individuals and companies looking to reach more customers. Success on eBay is often achieved after a series of critical missteps that see many sellers become disgruntled or end up losing out on the thriving business that eBay offers. Below are a few of those missteps, and how to avoid them:

  • Risking your reputation for profit

Most people fall into the temptation to sell fake, incomplete or what can be described as ‘tired’ products, using Photoshop to mask the item’s flaws. This may give you some nice profits, but you can only go on for so long until the bad reviews catch up with you. eBay buyers are sticklers for good feedback; they use the positive reviews, or lack thereof to gauge how much they can trust you. Be honest about the state of your products and polite and prompt to answer your customers’ questions.

  • Neglect the importance of accurate, concise records

Your eBay is a business like any other, and you should treat it as such. Good, clean records enable you to keep up with the progress of your business, inventory, listings, expenditure, and other vital aspects. Not having these will hamper your ability to plan and have a proper reference point. Soon, you may not even notice when your profits start dwindling as you have no accounts to monitor.

  • Charging excessive shipping fees

Buyers are attracted to deals with low, or even no shipping fees. If you charge exorbitant delivery fees, you will lose out to your competitors that are offering better deals. The best move would be to subtly raise the cost of your product to cover that cost and provide competitive delivery charges. You can also do some research into the couriers around you that provide friendly delivery packages.

  • Joining the frenzy

This essentially means selling an item that hundreds of other sellers are already selling. The bandwagon tends to have cutthroat competition that can ruin your business if you are just starting. The veteran sellers can afford to lower their prices drastically to gain the buyers’ attention. Try your best to diversify your products and add value to them.

Conclusion:

These are the most critical errors that most inexperienced sellers on eBay make. To avoid making them and others, do some market research and watch eBay tutorials to garner s much information as you can.

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