Topic: Member Workshop: What to sell? Research can help!
Host: terapeak Date: Friday 05/02 Time: 11:00 a.m. to 12:00 p.m. Pacific time Location: Workshop Board
Description: Join Denise from Terapeak Marketplace Research to look at how research can help you find new items to sell on eBay. Using Terapeak’s new Hot Product finders, you’ll learn how to determine hot sellers in the marketplace, find niche markets, and increase your sales on eBay.
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For those of you new to our format, I’ll give you the run-down of how this works. You experienced folk out there spare us a slide to get the technicalities out of the way and we’ll meet up with you in the next post!
Our workshop today is based on research gathered from Terapeak, an eBay Certified Provider and web-based tool that provides reporting and market research on closed eBay listings. All the screen shots and data today are directly from Terapeak.
Next, I’ll post the information, and then open up the “floor” for comments and questions. Don’t hesitate to participate; everyone has the opportunity to learn something from even the teeniest of queries. The board will be open until 12 noon PST and any remaining questions (or if you’re too shy to speak up in the open forum) can be sent to support@terapeak.com and we’ll get back to you!
Today we’ll address one of the top requests we receive from our users – generally it’s prefaced with, “I’ve had some profitable sales on eBay, and want to do more – “
And then the BIG question – “but what can I sell now?”
Once you’ve cleaned out your garage, spare room, and relative’s spare rooms, what next? The trick to launching your future sales is to determine what is selling on eBay and how to sell it. Using local sales, distributors, importers or drop shippers, you can source an amazing array of products right from your laptop computer. Of course, not all of these items are guaranteed to be the next big thing, or products that online shoppers are looking for. How do you determine your next hot seller?
Research! The new features of Terapeak 5.0 allow you to research the hottest products through each category within eBay, and also reveal the actual items eBay buyers are looking for, by reporting on their searches!
Let’s look at some of the ways to find new products using Terapeak’s new Hot Research.
One way to check out the top sellers on eBay is to review the Hot Searches option. This report reveals the top recurring searches entered into the eBay platform. The information here is great if you’re looking to generate broad ideas, based on what people are looking for – the most sought-after brands, products and colors will be included in this feature.
Here’s an example of a Hot Searches report – you can search eBay overall or you can drill through categories:
This is a report from the Jewelry and Watches > Watches category. We can see the top searched-for brands within the category, number one being Rolex. We can infer market demand for these brands, as they are being actively searched for on the platform.
Scrolling through the results (we received 989 search words for this category) we can also see the lesser-searched items – for example:
Though Batman is a popular franchise this year, he is near the end of the watch searches. Regardless, this inclusion indicates that there are people searching eBay for Batman watches.
That is one way to get the product ball rolling, but there are others as well. The next report we’ll review is the Hot Product report – these are products that have sold on eBay and are weighted by their sell through rate, average price and amount of items sold.
Drilling through categories here we can see not only items selling, but the pricing metrics and amount of existing competition. Unlike our previous example, this report tracks closed listings, so we see the information on value.
Here is an example of the Hottest Products within the Entertainment Memorabilia category on eBay. This result shows the top sellers over the last 7 days. Sweeny Todd items were super hot, and 35 Marlena Dietrich photos sold for an average price of $22.11!
You can select one of the products, and go directly to a product report if you wish. Selecting the Marlena Dietrich line opens a report specifically on these items.
Let’s look at another category within Hot Products – perhaps I’m already selling Hair Products and am looking to expand my market share in the Health & Beauty market.
A preliminary search of the entire category provides me a report:
On the left you can see the items, in the middle you see the subcategories. You can drill through the ones that interest you and review the top products within. I’ve selected Health & Beauty > Makeup to see the top sellers here:
At the top of the list are Mary Kay products, then Bare Escentuals (another big brand on eBay). I can drill further into those subcategories:
Above is a very specific report on the top sellers in Makeup > Sets & Kits > Bare Escentuals. These are obviously hot sellers, as the Sell-Through rates are above 75% across the report!
The final tool we’ll look at today is the Hot Titles report. This takes the Product report and stretches it to include all the top selling titles in each category. For example, in eBay overall (that’s all categories, across the board) the top selling titles are:
Since this is an overview for all of eBay, it’s pretty predictable. Everyone knows that there are lots of WIIs and car navigation systems, and we can see by this report that the first title sold $89,220 worth in the last 7 days! And that’s just for that specific title, not across the entire product sale!
What’s really cool is if we get more specific. What are the Hottest Titles within categories? This can help you find new items to sell, and determine best keywords for your listing titles!
This is the Hot Titles report within Women’s Accessories, Handbags category over a 30 day period. We can see the top Titles – the top one includes 254 listings with a sell through rate of 65%.
We can sort the report numerous ways, sorting by total sales reveals the top money-maker to be “Coach Purse” ($10,369), (and “Coach Handbag”) but the different styles of Jessica Simpson hair extensions are also top sellers here.
There you have it! A quick overview of the brand new tools available on Terapeak! As you can see, there are a lot of great starting points for developing an understanding of the eBay marketplace and the most current hot products. You may wish to enter the market with some of these hot products, or develop companion products!
Let’s open the floor to questions now – please ask away! I’m here until noon, PST.
Don't be shy - we're here for you. We'd love to answer your questions and if you don't questions, maybe we could research an item that you've been *wondering* about...
Hello, I'm a user since over a year and I love it but I use Terapeak in a different way. I take something I've in stock and look if it's worth it selling on eBay if yes, when, how etc... it cuts the leg work by 100%
Thanks for speaking up! For starters, you're obviously awesome bcs you're using Terapeak, and also, i appreciate that you brought up the other ways you can use research.
I made this workshop to run down our new tools that highlight product finding, but there's lots of other cool angles too
Hi I am new to the post so forgive if this sounds so repeatative for you. Is the cost fo the program $25.00 a month, and in your opinion do you feel it is worth the costs, and works? I see that it is fantastic, and if you want to be a selling making some money on ebay, that it works.
Hello, Your information and product look great. I was just wondering once we find out what's "Hot" how do we locate a business/wholesaler to sell the product to us at a reduced price in order to "make money on eBay"?
I think it's worth the cost, because it does work. What market research allows you to do is eliminate any guesswork in your listings. Instead of trial and error, you can use the benefit of past listings to build your sales.
I've seen many customers (and me too!) make back the price of subscription in a single transaction, and then some
Thanks for speaking up today! Good luck out there!
I am a current Terapeak subscriber but I haven't dug around in the new "Hot" areas of Terapeak yet. After seeing your initial postings, I did sign in to take a look and I see that it's just a small amount for these add-ons.
How do I go about adding them on? Are there any discounts that you can give during this workshop?
Denise, I just upgraded to the 'hot' feature and I love the Hot Media tendency rating... do you have plans to add the same feature to the other "hot" sections?
Thanks everyone for participating in today's workshop!!! This concludes the "How Customer Support Can Separate You From Your Competition" workshop. Be sure to check the Workshop Calendar for upcoming workshops.
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