eBay is a multinational B2C and C2C e-commerce marketplace. It is the most renown online shopping site in C2C sales.
eBay is one of the most popular e-commerce and cross border e-commerce platforms in the world. Moreover, being the world’s largest auction and online sales site, eBay turned into a major online marketplace nowadays by transforming its business model. So, how to sell on eBay? Is it easy to export on eBay?
What is eBay?
eBay was founded in California in year 1995, by the American entrepreneur of Iranian descent, Pierre Omidyar. Allowing selling to or buying from different countries of the world, eBay is a global brand. Generating a $ 10,746 billion in revenue in 2018, the giant e-commerce platform’s revenue reached $ 2,649 billion in the third quarter of 2019.
eBay generates about 70 % of its revenue from online market transactions. Whereas 10 % of its revenue comes from the online ticket market StubHub. eBay is used as a sales channel by cross border e-commerce investors all around the world. With more than 170 million users in 180 countries, region-specific products can be listed on eBay. Allowing sales and marketing of new or second-hand products, the online platform offers online opportunities in both B2C and C2C markets.
Vendors using eBay each month have the chance to list the top 50 products of their online marketplace for free. The company then charges a listing fee depending on the product category. The company also charges a commission fee from the sale of products.
How to sell on eBay?
Anyone can create an eBay account for free. You can buy or sell products through this account. Once you have a vendor account, you are supposed to pay the associated fees. eBay costs depend on the price of the products listed, and the duration of listing. You can buy and sell almost everything on eBay. Numerous products such as collectibles, vintage products, extraordinary or rare items can be listed on this platform, where millions of transactions are made each day.
You can open a store with your user account on eBay. Moreover, a brand page can be created through the “Business Account” field. It is important to have a valid and regularly used e-mail address and phone number on the brand page. Information regarding the business account should also be filled in completely. Once you select the payment method that best fits your brand, your online store will be activated. Cross border e-commerce investors from Turkey can choose from credit or debit card payment options.
Ways to Enhance Sales on eBay
Reassure: The long-known vendors achieve higher sales numbers than new vendors on eBay. This is because these vendors are experienced and can reassure the customers. Build trust in your customers and your sales will increase accordingly. eBay allows its customers to provide ‘positive’ feedback for the vendor and to rate their experiences. The more positive feedback a vendor receives, the higher level of trust s/he builds! This process may require some time, and quality service should be provided with patience as this happens.
Start with small items: Start by selling small but inexpensive products. Plenty of positive comments should be received through this process. Try to ship your order within 24 hours for attaining the best results.
Pay attention to packaging: Pack your products carefully to avoid deformation during shipping. Include some tiny gifts or messages in packages if you have the chance!
Do not resist returns: Do not resist a customer who insists to return the product! Nevertheless, try to find a less costly solution by acquiring about the reasons for the return.
Use professional product pictures: Product pictures are a direct factor affecting your sales. Make sure that you upload high quality pictures to eBay. Display dresses on a mannequin for instance, or use a visual to show the function of a kitchenware.
Add informative comments: Include descriptions that explain the features of each product. Information such as product dimensions, color options or instructions for use will be of interest to your customers.
Be a PowerSeller: Do your best to earn ‘PowerSeller’ status on eBay. It would be challenging to gain this elite status. Pay attention to receiving 98% positive ratings, attain the minimum sales amount and log in to eBay 90 days straight.
What are the advantages and disadvantages of eBay?
- eBay is one of the most popular virtual marketplaces in the world. Products thus can be sold to large masses in many countries of the world through an eBay store.
- eBay has an existing buyer population and an enormous traffic. No effort is needed to build a buyer population from scratch.
- eBay offers exclusive benefits and opportunities for its vendors. Products can be highlighted by using various advertising methods.
- Competition on eBay is huge. It is hence an obligation to compete with strong and famous brands/stores.
- In order to compete on eBay, it might be necessary to implement extraordinary customer satisfaction and pricing services; and to allow a relevant budget for those.
- Commissions and listing fees should be paid in this giant online sales platform.
- eBay is not a suitable platform for creating a brand or adding value to your existing brand.
- eBay customers care about the product, not the brand.
Useful Information on eBay
- eBay does not keep stock of products; it diverts the order directly to the vendor.
- Your sales performance should not be substandard for being able to open a Premium eBay store.
- Naming your eBay store, selecting an impressive theme and providing detailed information about the store contributes to store status.
- eBay sells ads to websites as well. Although it generates income from various sources, most of its revenue comes from the online marketplace.
- eBay also is a unique marketplace for rare products. Specifically, the collectors show interest in the platform.
- Along with making direct sales on eBay, products can also be sold by using the 1-to-10 days-valid auction model .
- Activities such as digital marketing and SEO should be performed in order to increase sales rates of a store opened on eBay.