Author: Bryan (Page 1 of 2)

Mercari Beta Ending: Prepare for 10% Fees

Update: Mercari has announced they will be postponing their transition to a 10% fee environment until November 21, 2016. This is their formal statement emailed to all subscribers/users. (Note that all comments below still remain true, just delayed one month.)

mercari-nov-21

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How to Take Great Photos for eBay, Poshmark, Mercari, or Etsy

how-to-take-great-product-photographs

I’m always amazed how truly bad some product photographs are. Whether you’re just clearing out your closet, flipping part time, or trying to make some serious cash, why would you shortchange yourself (almost literally) with off-putting product photos? It’s important to learn how to take great photos for eBay, Poshmark, Mercari, or Etsy!

Unfortunately, no one told these people…

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Sweaters in the Summer? Seasonal Selling Is Key to Success

four_seasons_by_nalmes

One of the things I find most surprising about thrift shopping in Hawaii is how much winter wear these people have. The Goodwill I go to is littered with sweaters, hoodies, and jackets that I just can’t possibly imagine people at this latitude wearing. But alas, I buy and sell a ton of cold weather gear.

I started taking flipping seriously during the spring months and began to hone my craft during the summer. While my strategy has always been to get items in and out as quickly as possible, even if they don’t sell for the most money possible, I quickly found myself developing an impressive hoodie collection that a New England native like myself would envy.

I had forgotten about seasonality.

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How I Save $2 on Almost Every Mercari Sale (And It Only Takes 60 Seconds)

Whether you sell on Poshmark, Mercari, or some other app, the shipping is almost universally the same.

A ripoff.

On Poshmark, every item, no matter the size, weight, or type, costs $5.95 to ship. That really eats into your profit margin.

On Mercari, the same is pretty much true. For items weighing 8 oz. or less, you can use Mercari’s minimum $4 shipping. If your item weighs between 8-16 oz., the only option they offer is $6 priority shipping.

That’s why I always ship it myself.

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Men, Women, Mindsets & Shopping Habits

Men are more impulsive than women!

Men are more impulsive than women!

In previous posts I’ve spent a lot of time telling you why it’s so important to help your potential buyers feel a connection to your items through irresistible titles, eye-catching images, and effective descriptions.

The reason is simple: you’ll sell more stuff when you make people feel connected to your items!

Part of that connection is the utility and usefulness they’ll get from buying what you’re selling, but part of it is appealing to the impulsive nature of people — making them want what you’re selling right now.

In my experience, it’s a lot easier to sell to men than women, which shouldn’t be a surprise because men are more impulsive shoppers than women.

In fact, a 2014 survey by Credit Cards.com backed that claim up with some numbers:

Impulse buys: men vs. women

Type of Impulse Buy Yes: Men Yes: Women
 $500 or more  21% 9%
 $25 or more 85% 74%

Of course, we’re (usually) not talking about $500 articles of clothing here, but in that same survey, 85% of male impulse buyers said they had spent at least $25 compared to 74% of women. That means men are 15% more likely to impulsively buy an item for $25 or more. That’s our target audience!

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5 Brands of Jeans You Can Resell For Awesome Profits

I have about 6 months of clothing flipping under my belt. That level of experience definitely makes me more than a novice, but I haven’t quite earned “expert” status yet (though I do as much reading and research as I can, which has greatly accelerated my development). From my experience (and research!), I’ve learned the best jean brands to resell for a profit.

And I really love reselling jeans.

Because I’ve bought and sold so many different items, I’ve learned a lot about what sells well and what doesn’t. I’ve also settled into particular niches that I like, generally because they both make money and there’s consistent supply. One such niche of mine is jeans, both men’s and women’s.

Here are 5 of my favorite brands of jeans to flip.

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Weekend Haul: My First Lacoste and a NWT Nike Polo

One of the things we want to do on Debt Free Dawn is share with you the items we find. Our hope is this will help you identify some great brands to flip while showing you the types of items we buy and the prices we look for.

This past weekend Dawn and I took a drive up to a Salvation Army we go to less frequently, about 30 minutes away from home (but down the street from a clinic Dawn works occasionally). As usual, the first thing we did was check the half-off date, which is how the Salvation Army moves their merchandise that’s been there for awhile. Luckily for me, some of the deals I found below were only made possible by the 50% off discount I was able to score!

Note: “Purchase Price” below includes HI state 4.7% sales tax. “Estimated Revenue After Fees” subtracts my expected shipping cost and site fees / commissions.

Lacoste Men’s Short Sleeve Orange Polo

  • Purchase Price: $7.32
  • Estimated Sale Price: $23.00
  • Estimated Revenue After Fees: $16.46
  • Estimated Profit: $9.14
WeekendHaul_2016_0815_LacostePolo

Lacoste Men’s Orange Short Sleeve Polo

Update: Sold it for $22.95, profited $9.05 after shipping and fees

I’ve never owned a Lacoste item before (not even as a kid) but Dawn has some experience and told me that anything with a big, bold, or standout piece of Lacoste insignia sells fairly easily. Seeing as we almost exclusively buy items in very good condition with very obvious branding, this made sense to me! This item sold in an eBay auction for $21.50 on August 1, and the big Lacoste croc fits the “standout” criteria, so I’ll ask for $26.95 and settle for something over $20.00.

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How to Create Powerful Listings, Part 4: 9 Ways to Seal the Deal with Effective Description

So far in this four-part series you’ve learned why it’s important to spend time creating great listings, how to write IRRESISTIBLE titles, and how to create eye-catching cover photos. The fourth and final installment answers the following question: How do I write a great listing description?

Descriptions matter, but how much?

This is an interesting question. In the next thousand words I’m going to suggest you take some extra time to write a really good description of your item, but does it really make a difference?

Yes, it does.

I have an eBay store. One of the benefits of having a store is that eBay gives me a whole suite of metrics that aren’t available to sellers without a store subscription. One of those metrics is “Sales Conversion Rate.” This is a crucial metric that tells me how often people who click on my listings actually buy my items.

Sales Conversion Rate is calculated by counting the number of people that buy an item divided by the number of people that clicked on an item. See below:

sales_conversion_rate

When I first opened my eBay store, I had your typical, bad descriptions. As a result, my Sales Conversion Rate was poor — about 0.7%. This means that for every 1,000 people who clicked on one of my listings, I generated 7 sales. To get one sale, I needed to get 150 people to click!

Now, after using the tips below, I’ve nearly tripled my Sales Conversion Rate, which routinely sits around 2.0%. For every 1,000 people who click on my listings, I’m getting 20 sales, and on average I need just 50 people to click on a listing before someone buys it.

What does this mean?

Without changing either my pricing or the items I’m selling, I have TRIPLED my Sales Conversion Rate.

That’s sales three times faster, which means more items getting sold, more new inventory getting posted online, and more rapid growth.

And all I did was use these simple strategies.

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How to Create Powerful Listings, Part 3: Eye-Catching Cover Photos in 5 Easy Steps

You’ve already learned why optimized listings are important and how to write irresistible listings titles, so let’s now dive into Part 3: perfecting eBay cover photos (or Poshmark, Mercari, or [insert marketplace here]).

When creating a listing, what you’re really creating is an advertisement for your product. Just like Coke and Pepsi battle in the advertising landscape, creating memorable commercials with catchy slogans and vivid imagery, so too are you! You’re not the only one selling second-hand jeans, so how do you advertise your jeans as being a better purchase than someone else’s?

You need to do the same thing Coke and Pepsi are doing!

Advertise your product with catchy slogans (we covered title writing in Part 2) and vivid imagery (we’ll do this today).

What do buyers want to see?

Put most simply, your cover photo needs to elicit the following reaction from your potential buyer:

“I want that.”

With that in mind, do some role reversal and think about the kinds of things buyers might want to buy, such as these:

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How to Create Powerful Listings, Part 2: 11 Tips for Writing IRRESISTIBLE Titles

In Part 1 of this four-part series, I discussed how selling items is just a numbers game. To borrow from that first post, this is the blueprint successful sellers follow:

  • They ATTRACT more people to their listings with clickable titles and eye-catching cover images.
  • They INTERACT better with those potential customers through accurate photos and complete descriptions that aren’t just a wall of text.
  • They CONVERT more of those potential customers into actual customers.

Today I want to discuss the first part of the first bullet point: attracting people to your listings with clear, effective, and irresistible titles.

Why do buyers click on particular listings?

You have items you want to sell. So do a lot of other people. And other people probably have items like yours. They may even have the same items as you. How do you make sure potential buyers click on your items and not other people’s?

You need to make buyers think your item will solve their problem better than someone else’s item. And yes, when you sell someone a sweatshirt you are solving their problem.

Before clicking on an item, buyers ask themselves these questions (whether they consciously realize it or not):

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