It’s January and I’m doing what most resellers are, clearing out inventory. Just like your own closet, it’s necessary to get rid of those items that lack the luster or interest you once had for them.
Let me begin with a background and then answer the question I’ve been mulling around about the lowest offer I will take on a basic clothing item in my store.
I’ve had my stores on an 18% (2018 🙂 ) sale since December 26th. I was surprized by the leap in clicks and sales when I did this. I’ve had better sales with this than a 30% off sale. We’ll never know what the Cassini Algorithm really likes. This means to me that it doesn’t matter the percentage off, you may receive the same “bump,” in your listing.
I broke down and did promoted listings. I didn’t want to give Ebay anymore money than I already was. Reality soon set in. I realized that I could compete with the larger stores who were not doing promoted listings. I wanted to see immediate results so I maxed out the percentage on all of my items in both stores. What I found is fewer “best offers” and more outright sales, especially overnight. It’s true that I handed over 20%. Then I thought about my time spent counteroffering and the loss with each offer and feel it was well worth it. I’ve kept all listings promoted and am very happy with the results.
At the beginning of 3rd quarter, I went from a Free Shipping/Buy It Now platform to a Priority Flat Rate Padded/Best Offer platform. I had heard a lot of resellers were doing this to compete with the larger stores on Ebay and gave it a try. I found it was so much easier to price items without having to add the shipping cost. I would always try to send it 1st class as I was paying for it in the end. The customers are willing to pay it and are happy with receiving their item withing 2-3 days.
It’s particularly good if you are wanting to clean out your inventory quickly. I always get the low-ball offers and feel like they are endless. The percentage of counteroffers accepted by a buyer after low-balling, seems very low. I have gotten to the point of assuming they will not accept a counteroffer.
The question is, how long are you willing to go to get rid of that stock? Until yesterday (which is the purpose of today’s blog) it was $10 plus $6.50 shipping. It didn’t matter what the item was, until I saw double digits I counteroffered. I realized I was losing sales when I could be getting rid of these items.
$5.00. That is the lowest offer I will take. Here is how I figured it:
$2.00 for cost of item. $1.20 for Ebay. $1.00 for supplies and time to wrap and send. $.80 left for ROI. Not a healthy return on investment, but I have gained necessary space.