Topic: Member Workshop: Use International Research to Maximize your Sales - Discover new markets and cash in on the New UK Listing Option!
Host: terapeak Date: Friday 06/06 Time: 11:00 a.m. to 12:00 p.m. Pacific time Location: Workshop Board
Description: eBay's recent addition of an option to include your listings on the UK site for pennies means that you can now advertise your sales to an entire new market! This month learn to make the most of your listings by using Terapeak's UK research. Understand this new market quickly and easily using Terapeak's market research. Join Denise from Terapeak to review how market research can take the guess work out of your auction listings and find you new and unique UK niche markets!
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Before we get started with the material, a quick note on what Terapeak is, and how these workshops work!
Terapeak is a web-based market research tool and we are an eBay Certified Provider. Our subscription service provides access to 90 days of closed eBay listings, and two years of category trends. Terapeak can help you evaluate items, determine how and when to sell them, and even guide you to new niche markets and hot sellers.
Any of the screen shots in this workshop are taken directly from Terapeak. You can visit at any time and try the free tool (which provides reports on a 14 day data set for free) at http://www.terapeak.com.
I’m going to post some information now, please read along and at the end we’ll open the floor for questions. I’m here until noon PST to respond to anything you’re curious about regarding market research and the material we look at today.
eBay's recent addition of an option to include your listings on the UK site for 10-40 cents per means that you can now advertise your sales to a new market without doubling your listing costs. Using Terapeak’s market research, you can attain an understanding of this new marketplace easily. By researching your products and looking for new niches in the UK market, you can arbitrage your items between the two separate countries.
The extra upgrade to UK means you can add your items to appear in UK searches as well as .com. This opens up a large opportunity for sellers, but because of the difference in markets, smart sellers will choose to do their research before adding their listings.
Today we’ll look at some examples of how to do this.
I think a really fun part of selling internationally is the market demand that exists for everyday items in one country that are sought after in another. I’m sure we’ve all been on vacation and found a neat candy bar or type of snack that we fall in love with, and can only purchase during our visit. Shopping online means that we can find those special items, and as sellers we can offer international shoppers products unique our country, at a healthy price!
Let’s look at an example of what I mean.
I’ve done a search within the UK Food & Drink subcategory for “American”. Let’s see what kind of ideas we can get:
Above is a general overview of sales. Now this is not necessarily a high-value area, but it’s a fun one so we’ll use it as an example. The sell-through rate for these items (this is the amount of items sold successfully over those listed) is really high, 72.63% is a very strong chance of sale. The following overview provides an idea of the numbers within this niche market of American food:
Here we can see that the total amount of sales for the past 60 days is over $42,000! Only 10 sellers per day move these items, so thus far that is a pretty small selection of sellers offering items of this nature.
Let’s look at what sort of products are selling - scrolling down our report on Terapeak we can see the top sellers:
Some of the prices here are very interesting! A buyer in the UK purchased 36 Butterfinger bars for $70.61! That’s nearly $2 per bar. 5 boxes of Lucky Charms sold for $13.73 each. These are all common grocery store items in the US, but unavailable in the UK!
This example highlights food products, but the concept encompasses all sorts of different items. A quick search through Terapeak can help you determine interesting popular items across eBay.UK.
Next, look at an example from the Category Heat Map. This Terapeak tool ranks subcategories based on sales, so you can determine what categories (and sub-categories) are most profitable.
Here’s an example of the Heat Map for Health & Beauty for eBay.uk:
The color coded targets indicate where the top sales are occurring. Fragrances are the largest market within Health & Beauty. Perhaps there is a US product line unavailable in the UK that is a potential hot item. A seller looking to expand their market might consider offering a new item to the already hot Fragrance market.
Once you’ve found a new item, or evaluated the demand for your existing stock in the new market, you’ll need to look at how to create your listings. If your listing is targeting UK buyers specifically (and you would want to do this with an item like those Butterfinger bars) determine when and how your UK buyer is shopping.
Not only is there a time change to consider, but also a difference in currency. It’s simple on the Terapeak reporting to change your preferences to use your home time zone and US currency if you prefer. This way you can determine what the best times and days to end your listings are.
Another important thing to consider when you’re creating your eBay listings for the UK market is that the language of an item may be slightly different across the pond. You can use research to figure this out too!
Different markets use different keywords, and since your keywords are essentially the storefront to your listings, you want to ensure that some of the keywords you add to your titles will be words that users in the UK market will search with. A great way to determine what words are searched on eBay UK is to use the new Terapeak Hot Searches tool. The Hot Searches tool expands on the eBay Pulse. It reports on the most frequently entered user searches.
For example, if you were selling in the Baby category, you could do a quick search within that specific category to review the words shoppers are most often entering into the eBay search field. The UK search results are on the LEFT. Compare these to the top searched keywords on the .com site(right hand side):
You see a lot of words here on the left list that you would not see in an American listing – were you selling items of this nature and listing in .com and .uk, you would want to be certain you were adding “pushchair” or “pram” to your stroller listing!
The above are just a few examples of how Terapeak market research can help boost your sales not only on eBay.com, but eBay UK as well. Take the guesswork out of adding your listings to the new market by spending a few minutes on research!
We’re going to open up the board now to your comments and questions. If anyone has any questions, we’ll be here till noon (PST) to answer!
Well I don't know about you folks, but in terapeak's research example, I spotted three of my favorites...jelly beans, marshmellow fluff and Lucky Charms...
Okay, back to business - we'd love to hear your questions. We'll be here for the next 50 minutes or so...
I have all my auctions listed to accept international buyers. I thought that I had exposure to all markets but am a bit confused on the ebay UK listing deal. Does that mean I have to do sepearte listings for each country I want my search to shop up in?
The new UK option means that your listing will be added to the UK site, so that when someone on eBay.uk searches for something, your listing will come up with the others.
This doesn't mean you have to make a separate listing (cool) but that you can opt in (for 10-40 cents) to have your listing included.
Hmmm, does that help? It's sort of tricky, but a great way to get your listing more exposure!
Does that mean ebay has or plans to do sepearte ebays for all countrys? Will we then have to do multiple listings for different sits rather then just ebay.com to sell internationally?
There are already a lot of sites for other countries- if you scroll down the page on eBay.com you'll see a list of the various countries included.
You won't have to necessarily list for multiple sites, international bidders can also search eBay.com. The option for UK is there if you want to target that market directly.
So with Terapeak I can now be more country specific in my request for selling information? Will this be for all country specific ebay websites or just ebay.UK?
Right now Terapeak offers research on the data from US, UK, Germany, Canada, France and Australia, so we can help you with any of them.
The purpose of this workshop was to show how you can choose to sell in the UK market with a good understanding of the market ahead of time using research.
This is exciting and a bit overwhelming at both times. I have a hard time staying up on ebay.com now. However I think I will start considering some for the specific markets like UK, Germany and Canada where I am seeing more sales thru my ebay.com listings.
the serarchs using terapeak for the other countries are included in the standard tera peak packages?
It is a whole new addition to your market, which is exciting. I think the cool thing is that you don't have to create an entire new listing for .UK, and can add it to that site for 10-40 cents, super cheap.
The international searches is an upgrade- for all the sites I mentioned above it is $39.99/mo. By arbitraging your items on the different marketplaces though, this quickly pays for itself.
Check it out! I think it's a great business booster!
Thank you so much for choosing to spend time with us today!
Please take advantage of our special two week trial to Terapeak – you will receive 14 days of free access to Terapeak before any billing takes place. Follow the link below:
Note that you will be billed after the 14 days, so if you do not wish to continue the subscription, simply cancel before the free trial is complete.
Thanks minniealdinger and lurkers too! for participating in and reading today's workshop material. A special thank you to terapeak for preparing the content.
This concludes the "Use International Research to Maximize your Sales. Discover new markets and cash in on the New UK Listing Option!" workshop. Be sure to check the Workshop Calendar for upcoming workshops.
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