Prior to selling products on eBay, it is very important that you do market analysis to find if there are any demands of your product. Despite being a great way to discover things that sell on eBay, many sellers fail to do this step because it can take a lot of time. However, skipping market analysis may cause you to find yourself with a stash of products with no buyers, certainly not a good situation to be in.
There are three things that you want to take into consideration when doing market research: the audience, the product itself, and the competition. Following are the steps for doing research on eBay.
1. Get product ideas. Write down few ideas of the products that you want to sell. If you have no clue at all, bear in mind that niche products are usually the best things that sell on eBay. Even though niche products attract just a tiny number of people, this segment is a highly targeted audience. You can begin by marketing niche products to a few people and later expand your product range.
2. Check past selling history. Once you come up with some ideas of the products to sell, check if they have enough demand on eBay by going through eBay’s completed auctions. It may take few hours to do the analysis but this tool can give you some ideas of excellent things that sell on eBay. When you go to eBay’s website, click on the ‘Advanced’ link next to the search bar. Enter the product, tick the checkbox for ‘Completed listings’ under the ‘Search including’ section and then click the ‘Search’ button. Checking the ‘Completed listings’ checkbox means you are looking for the products in the past auction results and not in the current auctions.
3. Analyze the results. After you get the search results, scroll through 4 or 5 pages and write down the numbers of products sold. If the items were sold, the prices will be written in green instead of red for the unsold items. In order to be sellable, a product must be sold more than 60% of the time.
4. Rinse and repeat. If the search gave you potentially good items to sell, shift your focus to find a supplier. Otherwise do the search for another item idea until you discover the right items.
Performing market analysis may look tedious and unnecessary but remember that skipping it can cost you a lot more in the future.
Once you have found great products to sell on eBay, it is time to
find wholesalers to supply your business. If you want to really start
making money on eBay, click here to download the free report.
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