To me, the word ‘cheap’ could be interpreted in several ways.
Cheap could be interpreted by some to mean rubbish! So, is the eBay executive saying that to be successful on eBay you need to sell rubbish tat that falls apart after one use?
I don’t think that’s what he actually meant but I would have thought he would have chosen
his words a little better, don’t you?
What he was getting at is that people want to find ‘bargains’ on eBay, the place to go to
get a good deal.
That’s all well and good, but it inst really the big ‘HURAH’ eBay sellers want to here.
I mean if all the sellers get into a ‘Race to FREE’ price war with each other, profit
margins will fall through the floor and there isn’t be much point selling on eBay..
OR is there..
I don’t know about you but joining the race to FREE is not my idea of good business practices
so I wont be participating in that race. Instead, what I will be doing is ADDING VALUE to
my products and offers. In fact, that is what I’ve always done and I believe is the methodology
of increasing the buyers perception of value in exchange for the price paid.
Whilst everyone else is currently cutting their prices and earning less and less, I’ll be putting my prices UP!
Yes you read that correctly. In fact I increased the price of one of my best sellers just last week and
It made just as many sales, If not more sales than at the lower price point.
I also added value to the offer not by sending more products but by amending the image and the
item description. I ‘INCREASED THE BUYERS PERCEPTION OF VALUE’ and the buyers are still coming back to eBay
and getting a bargain in eBay’s eyes.
So, when an exec at eBay mentions the word ‘cheap’ you could look at it in a bad way or a good way, but it’s
how you add value to make your products appear as bargains that will ultimately determine your return on investment.
So no more of this ‘cheap talk’ please Mr eBay executive!
By the way, if you do want to buy products ‘cheap’ to resell on eBay, you will find lots useful information in my newsletter and video series..