When you are accessing products from Easywholesale it most likely means that some others are selling the same products on Trade Me too and therefore you need to have a strategy for how you plan to list and price products that you decide to sell.
Often the first thing that we think of is to undercut the price and therefore you will sell more … but it’s not a great long-term strategy.
First You Need To Understand The Marketplace … Trade Me
Trade Me is New Zealand’s largest and most trusted marketplace.
There is a lot of information on the Trade Me website including an overview to selling on the platform which is also worth reading as it highlights a few ways to create a product listing, promoting a listing, the success fees to expect and a couple of ways to make it easier for buyers.
In this article we also go into some detail on what you should do when listing products and some tips etc.
Firstly you need to understand that there are lots of sellers and a lot of buyers.
One of the issues for the buyers is finding the product that they want, and the same translates into an issue for the sellers (you) as you want your listings to be visible to those people that want to buy, but you want to do this without spending too much on promoting specific listings.
Easywholesale Have Prewritten Listings
When you are selling items sourced from Easywholesale you can list them with a couple of clicks of the mouse. The product listings are imported to your version of Easylister and they contain the heading, text explaining product features etc and photos, plus the listing categories are included too.
It makes it super easy to to list the products, but if you want to make your listing stand out then you should spend a few minutes to change it a bit. Have a think about the product and see if you can change your heading, reorder the photos, change the order if the text used and you could select a different category with some products too.
You have a few options that can make your listing of a product a bit different to someone else that may be listing exactly the same item.
Determine Your Price
Some products that you source from Easywholesale will have recommended prices to sell for, but all products have the wholesale price that you pay included and there is the ability to set a fixed price or a mark-up that you want.
As an example we look at this 4-pack of GPS Dog Trackers.
It’s selling on the Cool Gifts website and Trade Me for $34.95 and yet you can purchase wholesale for $21.02 so that gives you a profit margin before sellers fees of $13.93 or $11.17 after the success fee ($2.76).
You could try selling for less in the hope that you might sell more items and therefore make more money, or you could leave at this price and you’d expect to make a few sales at a pretty good profit margin.
Sometimes you are better to keep the prices at a similar level to what other people might be selling for rather than trying to undercut the market which ultimately can just drive every sellers price and therefore profits down.
What Triggers A Sale?
Of course people that are shopping on a website like Trade Me may be looking for a bargain, but other times they may be just looking for an item at a reasonable price.
Don’t get stuck in the mindset that you need to be the cheapest. Buyers have different motivations for being on Trade Me and some are just happy to find the product that they are looking for.
The Easylister software also allows you to set an offer price which is then offered to anyone that was watching an item but didn’t buy. You can set this at a slightly discounted price and you may pick up a few extra sales from people that procrastinated and may otherwise have missed out.
List The Maximum Products
You are able to have quite a few products listed for sale and you should take advantage of those. When starting out you get 50 free listings and it’s a good idea to list 50 products as you never know what might sell.
Try to have most of the products listing that would be selling regularly but sometimes it’s a good idea to list a few different products too which may not sell that often, but may have a bigger profit margin.
I’ve listed these dog trackers since I started and have sold quite a few. I’ve got a couple of different listings for the 4-pack and singles and the sales just tick over and although the price is not big the profit adds up. Then there are the products that sell for $100 – $300 which generally give profits of $30+ and sell quite regularly too. You just need a few of these sales each week and you will start seeing the bank account grow.
I’ve also sold some larger items that produce large profits. Sales of some furniture items, gym equipment and BBQ’s have produced profits of over $200 per item.
