My sales have been hit HARD this summer currently running at a 10% sell through rate 20% down from winter. If you're struggling with slow sales during the summer just keep strong and remember you're setting yourself up for winter.
I am absolutely digging all the outstanding info and guidance that you provide week after week! I just 3:20 joined the Patreon group and looking forward to joining the next meeting.
So obviously I have very little numbers to go off of but I want to make sure I’m doing this right. I started 2 months ago, I have 17 active listings (crossposted), sold 18 (on various platforms mostly eBay). So in two months I’ve listed 35 items total, sold 18 therefore my sell through rate in 2 months would be 51%… Now that I figured out how to do all the basics like shipping, taking decent photos, good titles etc.. I’m going to start listing everyday consistently but I’m not sure how many I can list or want to list. I want to try and sell two things a day.
I'm going on 1 month this weekend and have sold 26 items out of about 80ish items . It's been slow these past few days but looking at it as a long run. As I keep learning about ebay, I keep adjusting my listings. I had a few items in the wrong categories. Since I'm a new seller I'm lowering the price on items to get more feedback/reviews. But everything is going alot better than expected
One way I found to help with promoting large numbers of seasonal items is to make heavy use of "Departments" or categories in the store. I don't have data that categories helps with sell-though by itsself, but it certainly makes promotions easier if you could say, "All Nike Shoes 40% off" and then have all those shoes in one category. When setting up a sale-type promo, you then have the option of selling everything in a select category, so if you have Shoes as a category, and Nike Shoes as a subcat, then it's easy to set a rule to put just that subcat on sale. It takes about 3 minutes to set up your promotion. If you have to add individual SKUs to a promotion, depending on the size of the store and how you have it organized, it could take quite a bit longer. You have 300 such category slots (cats and subcats) available in your store, so using them makes life easier for these promotions.
I think I was spoiled last year. Last summer was amazing. Every month I was setting a new personal best while everyone else was complaining about slow sales. just lucky, I guess. Fast forward to this year and I'm getting destroyed this summer. Although my store is double the size of last year, my sales are on par with what they were a year ago. Tough, tough stuff. I'm having a hard time figuring out if it's because of the "summer slow down" or if it's because we're in a recession. A little column A, a little column B, perhaps.
@@realtalkinc123 auction professor just did a video on their quarterly reports. eBay is way down while other sites are up. He shows the actual numbers instead of what “they say”.
Speaking of liquidation and its opening up space, selling and/or marking out of stock is also going to open up $ with which one could buy more / better inventory in the future. With this in mind, could you do a video explaining how "Open to buy" works for setting a buying budget based on the sell-through. It seems as if an OTB budget based on sales and current inventory might help some resellers from going crazy on stuff that will make a profit (maybe) when sold, yet ends up contributing to the Death Pile and sitting around for years (been there!)
This killed my sales not understanding this! I increased inventory numbers on all my items so they wouldn't run out but what I didn't realize is that Ebay's algorythm punished me for having a lower sell through rate!!!
I was listing daily and then all the sudden the sells just dropped. I might be listing the wrong items. I feel that I keep listing so the # of items increases but can’t sell them fast enough.
Choose a right item to sell, list them in relevant category, optimize your listings, promote them, it'll give you the results! Dont go for more number of listings per day, just be consistent, if you are listing 3 items per day, stick to 3 items per day and add 2x more items once a week!!! It'll help you alot to boost your sales!
List your items properly, optimize your listings and promote the listings!! You'll see the difference, but make sure that you optimize your listings in a best way!
Have enough margin (profit) built in with each item so you have the necessary discounts. In a perfectly priced world, there's always enough money in the margin to cover all your marketing with no loss to your markup. By doing that, the sales part of the formula works in your favor. In brick and mortar retail (remember those? 😉) I'd set an advertising/marketing goal of 4% of sales. I would then add that % onto the retail price so I'm not out of pocket that expense.
How do we calculate this if we are in the growth part of our store? For instance I am currently just over 300 active lostings and my goal is about 1000-1200 items. I know that you once said that it can take 6-12 months to get to nirvana so until that point my number of items isn't really static but my number of sales is steadily increasing.
My sales have been hit HARD this summer currently running at a 10% sell through rate 20% down from winter. If you're struggling with slow sales during the summer just keep strong and remember you're setting yourself up for winter.
I am absolutely digging all the outstanding info and guidance that you provide week after week! I just 3:20 joined the Patreon group and looking forward to joining the next meeting.
These are solid sales tips! The attention to detail in your data is a living testament to your success. Take note of this, folks!
So obviously I have very little numbers to go off of but I want to make sure I’m doing this right. I started 2 months ago, I have 17 active listings (crossposted), sold 18 (on various platforms mostly eBay). So in two months I’ve listed 35 items total, sold 18 therefore my sell through rate in 2 months would be 51%… Now that I figured out how to do all the basics like shipping, taking decent photos, good titles etc.. I’m going to start listing everyday consistently but I’m not sure how many I can list or want to list. I want to try and sell two things a day.
I'm going on 1 month this weekend and have sold 26 items out of about 80ish items . It's been slow these past few days but looking at it as a long run. As I keep learning about ebay, I keep adjusting my listings. I had a few items in the wrong categories. Since I'm a new seller I'm lowering the price on items to get more feedback/reviews. But everything is going alot better than expected
Keep it up Man!
Make sure that you optimize your listings well, optimize your images as well and do a little keyword stuffing for amazin results!!
Thanks for the thought provoking content. The small and nimble store with quality inventory seems attractive.
One way I found to help with promoting large numbers of seasonal items is to make heavy use of "Departments" or categories in the store. I don't have data that categories helps with sell-though by itsself, but it certainly makes promotions easier if you could say, "All Nike Shoes 40% off" and then have all those shoes in one category. When setting up a sale-type promo, you then have the option of selling everything in a select category, so if you have Shoes as a category, and Nike Shoes as a subcat, then it's easy to set a rule to put just that subcat on sale. It takes about 3 minutes to set up your promotion. If you have to add individual SKUs to a promotion, depending on the size of the store and how you have it organized, it could take quite a bit longer. You have 300 such category slots (cats and subcats) available in your store, so using them makes life easier for these promotions.
a video, showing this would be great @DailyRefinement
I love your channel and appreciate all the quality content. I’ve just started my re-selling journey. Do I have to necessarily start an LLC right away?
No
I think I was spoiled last year. Last summer was amazing. Every month I was setting a new personal best while everyone else was complaining about slow sales. just lucky, I guess. Fast forward to this year and I'm getting destroyed this summer. Although my store is double the size of last year, my sales are on par with what they were a year ago. Tough, tough stuff. I'm having a hard time figuring out if it's because of the "summer slow down" or if it's because we're in a recession. A little column A, a little column B, perhaps.
@Makai Threads were did you get that info from? The quarterly report just came out and they said they are up across the board on almost every stat.
@@realtalkinc123 auction professor just did a video on their quarterly reports. eBay is way down while other sites are up. He shows the actual numbers instead of what “they say”.
Speaking of liquidation and its opening up space, selling and/or marking out of stock is also going to open up $ with which one could buy more / better inventory in the future. With this in mind, could you do a video explaining how "Open to buy" works for setting a buying budget based on the sell-through. It seems as if an OTB budget based on sales and current inventory might help some resellers from going crazy on stuff that will make a profit (maybe) when sold, yet ends up contributing to the Death Pile and sitting around for years (been there!)
This killed my sales not understanding this! I increased inventory numbers on all my items so they wouldn't run out but what I didn't realize is that Ebay's algorythm punished me for having a lower sell through rate!!!
It's really crazy to me that people can't figure it out. They don't want to work, they just want entertainment
Exactly!! Or they just want someone else to do the research and then hand them the answer.
I have recently switched to a different model. Most of my items have sold under 17 days. 👍
Is there an App for patreon?
Yes
I was listing daily and then all the sudden the sells just dropped. I might be listing the wrong items. I feel that I keep listing so the # of items increases but can’t sell them fast enough.
Choose a right item to sell, list them in relevant category, optimize your listings, promote them, it'll give you the results!
Dont go for more number of listings per day, just be consistent, if you are listing 3 items per day, stick to 3 items per day and add 2x more items once a week!!!
It'll help you alot to boost your sales!
List items in season and demand at the right price
Tranks Chris!
Hello Chris.
Is there any other way to increase your sales, with out giving everything away.
Consistently list quality items that are desirable at or below market price. No discount sales needed.
@@retrothrift thanks
List your items properly, optimize your listings and promote the listings!!
You'll see the difference, but make sure that you optimize your listings in a best way!
Have enough margin (profit) built in with each item so you have the necessary discounts. In a perfectly priced world, there's always enough money in the margin to cover all your marketing with no loss to your markup.
By doing that, the sales part of the formula works in your favor. In brick and mortar retail (remember those? 😉) I'd set an advertising/marketing goal of 4% of sales. I would then add that % onto the retail price so I'm not out of pocket that expense.
I have done over 7k in the last 30 days on ebay.
I bet you have lots of tips to help me right ?
Not really, without any context
@@dailyrefinement did you do 7k on ebay in last 30 days ?
@@davidsharp922 what did you sell?
@@jrock2019 mostly industrial types of items. No low dollar items.
How do we calculate this if we are in the growth part of our store? For instance I am currently just over 300 active lostings and my goal is about 1000-1200 items. I know that you once said that it can take 6-12 months to get to nirvana so until that point my number of items isn't really static but my number of sales is steadily increasing.
You have 300 active listings and what about the sales?
@@muneebbaig5986 90 day is 195 sold with $9006 total sales. Avg sale price about $45
You are really doing good! You are getting good sales.
Feel free yo ask anything, anytime
👍
1:12 It’s 36 but let’s not split hairs.
Danggit.. seconnnnd
🕶👍
Third
You are handsome.
I was told people here would be interested in bulk lots of clothes.
guy makes the same video every time same content
Hello Chris.