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eBay: What Should I Sell?
There is an art to picking profitable products. It's not just what you want to sell but rather what will sell. Unless you pick a product in demand in the marketplace, you will fail. A fundamental principle of the capitalist system is "supply and demand". It represents a delicate balancing act between "what people want" and how much of "it" is available.
Every Christmas, we see one toy that everyone wants. One year is "talking Elmo" and the next year it's something else. But, it never fails to occur. Because everyone wants "it", so "it" is in high demand. If the supply of the product isn't sufficient to meet the customer demand, prices soar, as do profits for the people selling them.
You could hope you pick one of those products and make a lot of money in one season, or you can be smart and have a profitable business all year round. How? Understand trends in our society and how they help you predict the products which are or will be in demand, now and in the future.
Current Trends In American Society
By reading and watching current news, we should be able to spot trends. These trends will have an impact upon people and therefore, the products they need or want. For instance, some current trends in the United States are as follows:
∑ Americans are fatter than prior generations (particularly children)
∑ Baby Boomers (a very large potential market) are getting older. Many are in the 50s or 60s.
∑ More and more people purchase online from the security and comfort of their own home
∑ Americans are more security conscious since 9/11
∑ Travel by car or recreational vehicle is up over previous years
∑ Diabetes is making major inroads into the general population
These are just some of the trends impacting our culture now. We need to take those identified trends and make some assumptions about them. With these assumptions come product decisions, profitable product decisions.
Using a Trend to Pick Profitable Products
Let's choose the Baby Boomer trends upon which to focus. We know that the Baby Boomer Generation represents a large, and very wealth, segment of the current American society. If we choose to focus upon this group of consumers, we know we have a large potential audience. More importantly, we know we have an audience who can pay.
Determining the products we will offer starts with making some assumptions about our targeted market. What does that mean for the Baby Boomers? We need to take what we know about that market segment and then make some assumption based upon that knowledge. Let's try.
What We Know: What We Can Assume:
We know they are getting older. We can assume they don't like that.We know they are fatter than prior We can assume they don't like thatgenerations. and want to do something about it.
Let's just look at those two trends and how they help us choose products. If this generation is fatter than the last generation, we can assume larger size clothes are needed right now. Is that true? At eBay, plus size women's clothing sold for a total of $90,903.37 in the last 30 days! There's a profitable product selection for the present.
If we assume they are fatter and don't like it, they must want to do something about it. What might they do? Exercise or diet. What does this mean for possible products? Exercise equipment or diet pills. Is this true? At eBay, exercise equipment sold for a total of $1,125,144.50 in the last 30 days and weight loss pills sold a total of $130,795.34 in the last 30 days! Two more profitable, "in-demand", products at eBay, right now.
Choosing the right product for a profitable business does not have to be difficult. Just follow the four easy steps; analyze, assume, test, and choose. You simply have to read and watch the world. Look at leading news articles and magazine stories. What appears to be uppermost in the minds of potential consumers? What assumptions can you make about the trend? What product(s) does that translate to? Sell that product and you will earn money. Continue to follow those four steps and you will be profitable for a long time.
Michele Schermerhorn has over 30 years experience in the business world and over 12 years running her own successful online businesses. She is President of Online Business Institute Inc. (http://www.obinstitute.com). Online Business Institute Inc. exists to "Create Successful Online Business Owners One Person At A Time". They run regularly scheduled free online seminars.
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Q: I would like to start my own eBay business, but I really don't want to invest in a ton of inventory until I can get a better handle on what might or might not sell. I read another column about dropshipping, but I'm still a little fuzzy on how the whole process works.
How To Sell On Ebay: Using Store Policies To Cement Your Credibility
In your quest to build credibility as an Ebay seller, few things are more important than creating and following consistent store policies. Doing so will provide your customers with an attractive buyingatmosphere, where they will feel safe making any transaction.
The Top Ten Antique Categories On eBay!
Knowledge is Power! And this statement could not be more true when it comes to selling on eBay. As explained in my book "eBay Marketing Wholesale SourcePak", being successful on eBay all depends on being in the right place, at the right time, with the right product.
Doing It eBay: An eBay Business Means Fun and Profits in a Global Marketplace
In 1995, when Pierre Omidyar introduced an online business venue that was essentially a virtual garage sale with auction pricing, no one knew a retailing revolution was about to occur. That site became known as eBay, and it's hard to find someone today who hasn't at least heard about the popular online auction company.
Drop Shipping Secrets and Sources Revealed
Unfortunately for those just breaking into the wholesaling business, drop-shipping source information is jealously guarded. With a firm understanding of the service they offer, it isn't hard to see why.
Louis Vuitton -- Avoiding the Ebay Nightmare Fakes
Without a doubt, eBay was one of the cleverest on-line ideas that anyone has had so far. The idea of creating a site where you can bid on and buy items ranging from an eggcup through to a disused Boeing 747 or a Nuclear Missile Silo was pure genius.
7 Great Reasons Why You Should Start an EBay Business Today
EBay is a great part or full time business. An Ebay Business can be used as a way to promote your Online Home Based Business.
Is it Antique and is it Worth Anything?
Is it an antique and is it worth anything?Would you know?At some point in our lives most of us are going to put in a position where we have to ask ourselves the question-Which of my treasured possesions should I keep because they might be worth something and which can I throw away?Would you know??We start our own homes full of enthusiasm and with all the lovely clutter that makes up our lives and that of the family, but as time goes on, the children leave home, we decide to move to a smaller house or maybe we decide to live abroad. At that stage we have to decide what to keep and what to part with.
The 3 Minute Auction and Minute Auction Explained
Am I the only person who doesn't know what a 3 minute auction is? Looking for fresh content for my site, I discover that "minute auction," or even a 5, 10 and 30 minute auction is a popular item. Some auction sites may refer to a minute auction as a "Live Bid.
USP on eBay
If you have dabbled at all in the world of Internet marketing, you may have heard the term "unique selling proposition" or USP. USP is a technique that Internet marketers use to set themselves apart from the competition.
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