Can I Still Make Money on eBay?
In a word: Yes.
It’s no secret in the online auction world that eBay has faced controversy over their changing fee and feedback structures. The rise of other Web marketplaces means increased competition for both buyers and sellers as well, potentially threatening the dominance of the original online flea-market.
Should sellers be worried about the potential dilution of eBay’s dominance? Sure, but take a closer look at the numbers: As of June of 2009, there were 88 million active users worldwide on eBay, with an average of about 15 million average daily listings. eBay sellers rack up an average of $60 billion in sales annually. That whopping number represents a full quarter of all online retail sales combined.
Absolutely, sellers can still make a profit on eBay. You don’t have to be a long-running PowerSeller to reach out to eBay’s millions of potential buyers. eBay remains the domain of an enormous number of reputable small businesses and individual sellers, from auto parts distributors to medical equipment manufacturers to artists and amateur craftsmen.
Of course, like any other business, however, consistency and hard work remain key. If you want to maintain a solid feedback rating and buyer awareness of your store, you must be willing to invest some time in developing your eBay presence. That means:
- Selling products on a regular basis. It goes without saying: the more products you sell, the more opportunities you have to obtain feedback and reach eBay buyers
- Offering quality products and services
- Providing full descriptions and, when applicable, a sufficient number of detailed, clear photographs that allow buyers to examine the items closely
- Scrupulously monitoring your eBay auctions, answering questions and addressing concerns from potential buyers promptly and thoroughly
- Responding quickly to successful bidders when each auction ends, either personally or using an automated response system
- Shipping items immediately after an auction ends
- Responding to any post-auction and post-shipment questions from successful bidders
- Buying products on a regular basis. Many successful sellers on eBay are also frequent buyers. Don’t forget that you can raise your feedback rating by being a reliable buyer as well as seller!
Running an eBay business can be fun and exhilarating, but like any other business, it requires a lot more work than many people realize. If you simply want to sell a few items you have hanging around the house and don’t have the time or inclination to devote to maintaining a store, you might want to consider an online consignment store such as Easysale. We handle everything about your online auction so that you don’t have to, all for a small fee. It can be a fast, efficient and fun way for you to participate in the great online marketplace that is eBay, without the trouble and stress.
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