Simple objective eBay market research will boost your profits 25%-50%.
TeraPeak Review: What to Sell and How to Sell on eBay.
TeraPeak is the second leading eBay market research tool. Let me emphasize that: Market Research. If you want to sell profitably you need market research, because you need to be in control of your own auctions. You need to know how much profit you can make from a product before you sell it. And thats what TeraPeak and HammerTap is all about. This online auction analyses software will help you to develop solid sale strategy, discover products trends, top sellers you have to compete, hot products and categories.
Watch how to increase sales and profit with TeraPeak market research video.
So far TeraPeak has following to offer:
Closed Auction Research
-Search millions of closed eBay listings
-Determine profit potential for any product, with that knowledge pick the most profitable product.
Top Sellers
-View the top sellers by eBay category for sales, volume, and total bids.
-Research your competitors sale strategy, analyze, improve it and take the top spot.
Category Research
-Understand category patterns & make informed decisions
-When you understand most profitable categories you can adjust your product sourcing strategy, and that lead to more sales. For more info on Product Sourcing you can check here.
Trends
-See product sale fluctuations distributed in the time frame- trends, they will help you find seasonal products, when you can buy them dirt cheap off-season, and sell much higher during the season.
- You can also see trends in the closing times of successful auctions, which will help increase the effectiveness of your auctions and ultimately increase your profit.
Hot Research
-View super hot, very hot, and hot categories, media,searches,products and titles.
TeraPeak vs HammerTap
You can use TeraPeak at no cost, just sign up for their free research tool. Free search is not so powerful as regular service and there are some limitations, but you still can dig some valuable information. You can check TeraPeak free research tool here. As I always say: ''No tools or software can compare with your mind- your brain is the most powerful tool you can imagine''. With that in mind double analyze search results, for the newbie, the mountains of data could be pretty overwhelming, especially without understand what the data means. Comparing market research data from leading tools (HammerTap and TeraPeak), I can say that they use the same data the only difference is representation form, TeraPeak is more intuitive and easy to understand, which is good for beginner, but I think with HammerTap you getting more information to analyze and I think that their search results give you more value to make informative objective decision. To better understand how to use data from market research software some tricks and sale techniques you can check HammerTap market research techniques.
How to find what is HOT for YOU on eBay
Ever looked at an eBay ''What´s Hot list?'' (Check it out here) These lists are great at giving some initial direction, but what do they really mean for you? Yes you might find out that 16Gb iPhone is extremely HOT item in Consumer Electronics. So what? If you don't know where to get iPhone for wholesale/reasonable price you not gonna make any money from it. So this item is NOT that HOT for your business.
What´s HOT for YOU Depends on What You Can Sell
What do you mean, "what’s hot for me depends on what I can sell"? If it is selling on eBay, why wouldn´t I be able to sell it? A lot of factors go into being able to sell a product. For example, you first need to understand the supply and demand of that product, and then you need to be able to find a product source. First, know the supply and demand. You should never commit to selling a new product without trying to gauge what the demand for that product will be. With TeraPeak it is easy. Research a product you think is right for you, and check the Results for the Total Listings (supply) and Sell-Through (demand). Now that you have right product you need product source. You can check some wholesale drop ship solutions here.
What´s HOT for YOU Depends on How Much You Can Make
So, by now you should have discovered a hot-selling product, determined its supply and demand within the market, and found out where you can get it. Unfortunately, that is only one side of the equation. Although you are confident you can sell it, do you know how much money you can make? TeraPeak will help us again. Check Average Selling Price(ASP). But we won´t sell it at the average, using market research tools and determine proper selling strategy we can significantly boost our selling price.
So now we have both side of equation and it is time to solve it and find out how much money we can make selling product. Profit=Sales Price-Cost of a Product. Don't forget include in Cost of a Product: wholesale price of a product+ shipping and storage+listing and closing fees. The key here is to sit down and do the math before you go buying a large inventory of hot products that either 1) you can´t sell or 2) you can´t make a profit on. That's why market research is crucial “MUST” for serious business, and performing this without proper market research software is impossible.
Conclusion
You making money selling something online, and if you sale better than your competitors you making more money, everything simple. And market research can prevent you from many costly mistakes and put you head above your competitors. TeraPeak and HammerTap are tools I think any seller should not be without.
Especially you can try them for free. You can check TeraPeak basic search here and HammerTap 10 days free trial here.