When you’re selling on eBay, the summer months of June and July can seem endless. It’s blazing hot, sales screech to an almost halt, and there are simply never enough margaritas around.
Inventory which hasn’t yet been listed piles up and before you know it, there are boxes of this and bins of that cluttering your space.
Also, you might have items already listed that haven’t sold in months.
Those that know me, know how I feel about inventory. My motto is “Move it in, move it out, sell a heap, sell it cheap” – and as fast as possible! There’s nothing worse than old inventory sitting around in closets, garages, pallets, and/or warehouses.
When I see unsold inventory, all I can hear in my head is Mr. Wonderful saying, “You’re dead to me”.
Not only is this bad for your bank account but it freaks out the Feng Shui and ain’t nobody got time fer dat!
Well I’ve got the cure for those summertime blues!
I’m going to show you how to perform CPR – “Clearance Price Resuscitation”.
What the Heck is Clearance Price Resuscitation
In the name of organization, making room for more profitable inventory, and your own sanity occasionally you’ll need to purge “dead merch” – merchandise that did sell in X-amount of time.
While some eCommerce ‘experts’ will argue that clearance sales are not the same as selling off dead inventory, I’m like potato/potahto – let’s sell the whole thing off!
And, generally speaking, running a clearance sale/getting rid of dead merchandise means taking a loss.
Now, you will sometimes have to take a loss by selling inventory at below wholesale prices.
However, my job is to teach you how to sell on eBay. What that really translates to is “how to make money on eBay”.
In this article, you’ll learn how to revive dead merchandise so that by the end of summer your bank account isn’t a goner!
How To Perform Clearance Price Resuscitation
In just 2 easy steps, you can breathe life back into your eBay listings.
Why only 2 steps?
Because at the end of the day, merchandise ‘dies’ due to lack of two things – Research & Development.
So, let’s get started with Step 1 – Research.
Step 1 – eBay Research
As an eBay consultant and selling coach, I preach, preach, preach eBay research!
Before you go wild listing clearance items on eBay, take some time to reevaluate old stock as well as items which have already been listed. Properly diagnosed, you’ll find that many of your items are only “mostly dead”.
Conduct your eBay marketplace research using Terapeak.
Even if you researched items before investing in them, sometimes the market changes. Asking prices could have gone up or down.
The good news is, whether prices have gone up or down now is the time to see what kind of bundled lots you can put together. Bundled lots often bring in much higher dollars than selling items individually!
eBay research can be your best friend if you’ll just put in the time. Of course, time is money so read my in-depth Terapeak tutorial to learn all the best eBay research tips and tricks!
Click below and get your FREE TRIAL with Terapeak now!
Let’s move on to Step 2!
Step 2 – Development
Development is all about your listing strategies. What time of year is best to list certain items, is your inventory in line with current sales trends, how thorough are your product descriptions, etc.
Since the goal here is to shed unsold inventory, we’ll focus on product listings.
In the hustle and bustle of running an eBay store and business we can get busy and miss the “fine print” of a listing.
Whether you’re listing an item for the first time or going over existing listings, check to make sure you added options such as make an offer or free shipping.
Remember, it’s about the quality of eBay listings rather than the quantity.
Here are some other ‘fine print’ details to look for while “developing” your dead inventory listings:
- Can the title be improved?
- How’s my SEO?
- Should I rearrange or add new images – or take better quality photos?
- Does the price need to be lowered or increased?
- Add make an offer?
- adjust shipping or add free shipping?
- What’s my return policy – is it listed or could it be better?
- Send to auction?