When the new year rolled around I considered how I wanted to improve my ebay store. I had been busy since August trying to get my store inventory up in anticipation of the holiday shopping. I was trying to get items into my store that would sell, regardless of the selling price. I think that the lowest priced item I had was priced at $3.99. After looking at the profit margin on items priced in the range of $3.99 to $6.99 I decided to phase out those lower priced items. I also looked at things that didn't sell at all or took forever to sell. Those had to go also.
As a result of my decisions I have eliminated some items that just didn't do it for me.
I have been an avid seamstress since I learned to sew on my grandmother's treadle sewing machine when I was about 8-9 years old. Granted, it took a while to gain some skills on the sewing machine, but I kept at it until I could do a decent job. I proudly made both of my high school prom gowns. Not because I wanted to show my skills off, but because financially it was a smart move. I figure I save about $100 on each gown by making them myself. So to make a long story short, I know my way around a pattern or two.
I had a habit of picking up patterns at yard sales or the scrap exchange for 10c to 25c. Good profit margin when most patterns go for $5-$10. But most of the patterns I picked up just didn't sell. The ones that did sell were vintage craft patterns ($10-25)and Vogue Couture Patterns($25-90). So I have eliminated just about all of my patterns.
I like mugs. They are easy to find. Fairly easy to ship. Easy to store. But most mugs don't bring me the profit margin I'm looking for. I just can't sell a mug for more than $10-12 for the life of me. I need to be more selective with my mugs. I type this as a basket is sitting next to the computer with about 6 mugs in it ready to list. Most of the older listing I won't be relisting because I could use the space for things that will sell faster. And all you sellers out there that sell Starbucks mugs right and left. Good for you because I can't do that. I have two city mugs that I have had listed(maybe a little high$) for about 9 months and while 4 others that I listed at the same time have sold these two are holding up progress. Time to bite the bullet and lower the price.
Infant Loveys-Security Blankie
These are so sweet. What a good idea. Better than carrying around a full size blanket until you get married.(really happened) Or having the hotel housekeeper think it is trash and throwing it away (yep, same blankie)
But I can't sell them. I have a storage box full of them and while I sell one occasionally, it isn't worth my while or storage space to buy any more. I have tried raising my prices, lowering my prices, just about anything to get them to sell and zilch. And I have this one for sale that truly baffles me. I regularly get over 100 hits a month on this one item.Cute as a button and perfect shape.
But it has been sitting forever. Well, at least six months. When I listed the super hero there was one other in the expired listings for about $50. I thought that was too high so I went lower. Lets face it, this isn't a rare item. So mark these off my shopping list. No more blankies.
On to more positive things. Starting off the new year I decided to only list new items that will bring me at the very least $10 profit. And of course I immediately begin to sell lower priced items. Tuesday I shipped out 4 items. An average day. Total cost of these varied items were $5.80. The total profit on these 5 items was $46.79. Not a bad day. But a bad day when you consider one item, a boggle game sold for $6.99 and another item sold for $24.99, a new flannel gown. That's too much of a difference to make me happy. I want more $24.99 and up sales.
Now, I must go purge stuff. It makes me feel better, gives me more room AND I can go thrifting and buy stuff that will sell.