In this video you will learn how to make more money on eBay by finding and tracking profitable products and sellers in any niche using eBay market research software Terapeak. (This is HD video so you can watch it fullscreen if you want and turn on captions/subtitles by clicking small cc button)
Here is how to discover and research profitable products to sell and know exactly what the most successful sellers in any niche or category do in order to be successful; Choosing the right product to sell can be the difference between success and failure. Ideally the niche where you’re selling should be something you like or something you’re passionate about, this multiplies your chance of success. Anyone can create tremendous success for themselves if they do what they love. One time I went to this Russian restaurant and everything was amazing… their concept had enormous success and it is all started with one one man and his desire to cook…
Right now I am looking at “Hot Titles” report which lists best-selling items for the last 7 days. I am not really interested in iPads, iPhones and computers because it is very hard to get them at wholesale price if you’re “small” home based business but I noticed that “Dyson Vacuum” cleaners are listed as a hot item so I want to research this brand to find out if it might be good products to sell. If you already know what you want to sell and looking for product sourcing solution – check out Worldwide Brands wholesale directory.
I have done search for “dyson vacuum” in “Vacuum Cleaners” category and I can see that it is popular brand with good sell-through rate of 78% which means that 78% of all listing for this brand in the last 30 days have closed with a sale.
Now I need to get an idea of what models of Dyson Vacuum cleaners have the best sales. You can get an idea of best-selling models from listings at the bottom of each Terapeak report, but what I usually like to do is go to Google Insight and do a product search for my keyword in our case it is “dyson vacuum”. Google Insight will list popular product searches so you can see what models and features people are looking for. I can see that “dyson dc25” is relatively popular model so now I will go to Terapeak and do a search for “dyson dc25” – from the report I can see that sell-through for “dyson dc25” is even higher than for Dyson vacuums in general so this might be a good model to research even further. Usually I write down average sales-price so later on when I will be researching wholesalers or drop shippers I will compare their wholesale price with my average sales-price, this gives me an idea of how much I can make selling particular product.
Now I need to make sure that I am not trying to sell in the category that is significantly affected by seasonal trends because if you try to sell in a category that does not have a consistent volume of sales and only occasional seasonal spikes it might be not worth your time and it might be too late because hot season for that item is too short or about to end. For example St. Valentines cards – very few people are buying them during the year, except for the St. Valentine’s day.
We can see seasonality of the sales by looking at the trend report for the category – I can see that “vacuum cleaners” category have pretty consistent volume of sales throughout the year with average of about 500K in monthly sales. There is actually a spike in sales starting from the beginning of November through the end of December, so it might be a good idea to start selling “Dyson vacuum cleaners” right now during the summer so I can capitalize on the sales spike during the holiday season.
Now we need to find out how many sellers are selling vacuum cleaners on a regular basis, because if there are thousands of sellers selling 20 or more vacuums a month it might be very hard to compete. Looking at the top sellers report we can see that there are about 70-80 sellers who are selling 20 or more vacuums a month which is good considering that this category does around 500K in monthly sales and we can our share of those sales. What I usually do next is pick several top sellers from this category because they obviously doing something right and add them to value track so I can watch their sales strategy and find out – what products and models do they sell, what keywords and features do they use, what is their price options and so on… If you want become the best you have to learn from the best and value track helps you keep best products and sellers at your fingertips so you can react very quickly and base your decisions on solid facts.
So this is how you find good products to sell and research sales strategy of the most successful sellers in any niche or category to learn how to maximize your profit from every auction please check out this video: eBay Business – How to sell on eBay to make money.
For full textual review of Terapeak and more eBay strategies click button below. Check out this article to learn why eBay market research is important.