I must say, I enjoyed my vacation very much, but I’m glad to be back! Even when I’m not eBaying and “taking a break”, I still feel the itch to look something up and see if I can make money. This drives my wife crazy, and it’s something I really need to work on. We all need to turn eBay off in our minds once in a while. With that said, this time of year is our time to shine as eBay entrepreneurs. If you played your cards right, orders should have been flowing in and your PayPal account should be growing!
I took three different approaches this Holiday season, and it really paid off!
1. One Hot Product: This year I decided to focus most of my efforts on finding one hot item. This needed to be something that was niche enough that I wasn’t bombarded with competition, but popular enough to make several sales a day. I also needed to make sure that I had an inventory source that could keep up with the demand. This year I really hit a home run! Somedays I was shipping out 30 boxes of this particular item! My strategy was to price low enough to encourage shoppers to buy from me, but high enough to average out $10 per item. I’m still making sales on this product, so I’m not going to share what it is just yet, but once the sales are dead I’ll let you know. This will help you with next year sales and finding niche items in general.
2. SaleHoo: This is the first Holiday Season that I used SaleHoo as a inventory source, and I couldn’t be happier. About 20% of my sales came from inventory that I got by using SaleHoo. About half of them were drop shipping items, and then the other half were wholesale items that I bought beforehand. I initially was nervous about buying wholesale items in bulk, but the risk paid off. Most of my wholesale items were bought from one merchant that sold gag gifts and party supplies. Who would have thought that the rattlesnake egg prank, can nuts prank, fake loto tickets, and various other gags were popular to give as Holiday gifts. If you haven’t checked out SaleHoo yet, Cick HERE! You won’t be disappointed.
3. Thrift Store: Although getting eBay inventory from online retailers is much easier than sourcing at Thrift Stores, there still is something really exciting about finding home-run items at a Goodwill! This is something that I love to do, and most of the time, you can find an item that pays out much more than those at a retail store. I have told many stories of different items I’ve found and how they have brought me in a lot of cash, but one item that took me by surprise was in a box that I found over my break. I was driving by a Goodwill and decided to stop in. I gave myself 2o minutes tops, then I was going to leave. The very first aisle I go down had a box of old brass belt buckles. This is something that I know nothing about, but it still pulled my interest enough for me to check eBay’s competed listings. I was blown away when I found out that most of the items in the box were going for $30 or more! These are definitely on my radar now!
It’s important to remember that the Holiday Shopping Season actually extends into January, so keep going! Many people will be receiving eBay gift cards as a present, and will be looking for you to sell them your item.