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Net Auctions and Auction Information |
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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.
MORE RESOURCES: Acker puts Delaware on the fine wine auction map - Del. Business Times Delaware Business Times Looking for Gold at a Department of Finance Vehicle Auction The New Yorker Japan PV auctions not a failure, says IRENA pv magazine International 5 Things to Know About Mecum Auctions News 13 Orlando WQPT revamps on-air, on-line auction | Local News | qctimes.com Quad City Times C-Band auction winds down, officially hits $80B mark Connected Real Estate Magazine Carroll Shelby’s 427 Cobra Roadster sold for $5.4 million at Mecum Auctions NBC Sports - Motorsports British Airways Auctions BOAC 747-Inspired Luxury Suitcases Business Traveler USA Industrial Equipment Auctions ABOUT INSIDER Funny Garfield Strip Art Up For Auction At Heritage Auctions Bleeding Cool News Rare Books &c. at Auction This Week Fine Books & Collections Magazine Auction of Rare Radiohead Demo Features Three Previously Unknown Songs Yahoo Entertainment TABLE-China's wheat auction soars on high corn prices, coronavirus fears Successful Farming David Hasselhoff is auctioning off his personal K.I.T.T. car from the iconic 'Knight Rider' series CNN Trump auctions drilling rights to Arctic National Wildlife Refuge on Wednesday - The Washington Post Trump auctions drilling rights to Arctic National Wildlife Refuge on Wednesday The Washington Post Arizona Auction Week 2021 disrupted by coronavirus concerns The ClassicCars.com Journal More Than $80B Spent In FCC Auction, Wireless Providers Recalculate 01/19/2021 MediaPost Communications Potter’s Wheel hosting online benefit auction Eyewitness News (WEHT/WTVW) Mecum Auctions returns to Kissimmee with collector car auction Orlando Sentinel Sauk Centre Area Auction • Thursday, January 21 | Auctions ECM Publishers Mike D Sells Hester Diamond's Art at Auction The New York Times Goldin Sets Opening Day Auction Record; Plans Additional, Shorter... Sports Collectors Daily Rare 1993 Cizeta V16T headed to auction Motor Authority Belgrade Area Auction • Thursday, January 21 | Auctions ECM Publishers Long Prairie Area Auction • Friday, January 22 | Auctions ECM Publishers Long Prairie Area Auction • Tuesday, January 19 | Auctions ECM Publishers C-band Auction Brings Home $80.9B EE Times Humble ISD set to host 74th annual Livestock Show and Auction this week Houston Chronicle Modern Era Cards Get Spotlight to Themselves in New... Sports Collectors Daily Chilean 5G spectrum up for auction after deadlock on technical offers Developing Telecoms $2 Million for T-Shirts? How Supreme and Nike Cracked the Auction Market The Wall Street Journal Chris Bachalo's “Death of the Endless” Sandman Sketch Hits Auction Bleeding Cool News C-band nears $70B, rockets above prior US spectrum auctions FierceWireless C-Band auction nears the $80B mark Connected Real Estate Magazine Stevie Ray Vaughan’s first electric guitar headed to auction Advocate Media This $160 Million Estate Is the Most Expensive Home in the U.S. to Hit the Auction Block - See Inside HouseBeautiful.com Local restaurant owner supporting other businesses with silent auction KOAA.com Colorado Springs and Pueblo News Collectible or unacceptable? Auction of Nazi memorabilia part of debate Poughkeepsie Journal IPL 2021 Auction: 3 players CSK, MI, RR, DC, RCB, KKR, KXIP and SRH will likely release; Check out InsideSport Tomlinson: The failed auction of oil leases in Alaskan refuge signals big change in oil and gas Houston Chronicle A Whole Case Of The Atari ET Game Is On Auction At Heritage Today Bleeding Cool News ACV Auctions' ‘confidential IPO’ filing: what it means Buffalo Business First Chile to auction 5G frequencies in 3 bands next month, assign 26GHz band without tender Telecompaper Pokémon Fire Red Sealed 9.4-Grade Copy On Auction At Heritage Bleeding Cool News The Next Super Radio Auction is Wednesday, Jan. 20th Heart of the Rockies Radio Harris County's January foreclosure auction canceled Houston Chronicle A Record-Breaking 5G Spectrum Auction Is Nearly Done. What It Means for AT&T, Verizon, and T-Mobile. Barron's Highlights from the Roadside America auction: Here’s how you can bid on a piece of Pa. history pennlive.com Here are the new C-band auction estimates – Urgent Comms Urgent Communications Report: ACV Auctions files papers in preparation for IPO Buffalo Business First Lexington cattle auction report | Livestock Markets | hpj.com High Plains Journal Tama feeder cattle auction summary | Livestock Markets | hpj.com High Plains Journal JANUARY AUCTION kmmo.com |
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