If you are looking for ways to make money off Ebay, then your product choice is vitally important. What you choose to sell can make all the difference and very few people ever target the right products and they end up not making much money. Essentially there are two approaches: you can either sell a lot of products for a small profit or you can sell fewer products, but with a bigger profit margin. With the increase in online sales, combined with a renewed interest in Ebay, finding the best products to sell on eBay need not be such an arduous task.
Regardless of which approach you chose to follow, you need to ensure that there is a demand for what you want to sell. Trading is all about demand and supply. With a high demand and a low supply prices tend to be high as the perceived value of an item is high. If the supply was to increase the prices will fall as the perceived value will be lower. When it comes to finding the best products to sell on Ebay, gauging the supply and demand chain is a vital step in determining the perceived value of a product. When it comes to highly sought after items like tickets to the Pink Floyd reunion concert, the demand can become so high that prices skyrocket. This is where eBay is incredibly powerful and popular.
The first step then to find the best products to sell on Ebay, is look for the demand – what are people looking for online and what are they willing to spend money on? Head over to Amazon.com and select any category. On the right hand side you will see the ten most popular items and if you like you can even have all the products in that category displayed by popularity. This will give you a good idea of what people are actually buying online.
Next you need to head over to eBay Pulse (www.pulse.ebay.com) to see what’s most popular on Ebay. Select the same category as you did in Amazon and look for matches. What you are looking for is to see whether people are buying the same popular products on Ebay. Most of the time you will see at least three to five matches. You can do more demand research by heading over to other shopping sites, but for now we can be pretty certain that there is a demand on our three to five product possibilities.
Next, we need to check the supply. For this we will pretend to be a shopper on Ebay. Start by doing a wide search on eBay and take note of what’s on offer. If you found Pink PSP Console to be your hot product, start your search with PSP and then narrow it down. Of special interest would be the going rate, the amount of products on offer and whether they are eBay shops or just private resellers. Private sellers usually pose little threat to you as they only sell one product at a time and they tend to sell used, damaged or one-off products.
Note down all those products being sold by eBay store owners and check their item price, their shipping costs and their overall presentation and guarantees. We need to beat at least one of these and not just offer the same thing. The real question then is can we find the same products for a good price? Head over to SaleHoo and search for the product from the wholesale suppliers listings. Compare these prices to the prices of the store o