This will Cause Many To Quit EBay Reselling
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- Опубликовано: 10 июл 2024
- ebay resellers face alot of challenges. now is the time to increase our profits and scale our business. selling on ebay is entering a new chapter and we need to capitalize
I'm a bit older (Gen X) and I generally stay far away from negativity and obvious click bait. I chose to watch this video specifically because it was a recent upload from someone who has proven to be an outstanding content creator! Thanks for the fact-based info and authentic, relatable delivery. Excellent work as always!!
You're a bit older ? He was born in 95, Gen Z started at 1997
Same here - GenXer already subscribed and watching most of what he puts out. So in that sense, you would attribute the view to "added value" and possibly loyalty. I know what RUclipsrs need to name their vids to feed the beast, but I'm just here to watch and learn.
Let's Play a Game! Enter your birthday and social security number to see what color you should dye your hair.😂
@@janderson9855the forgotten generation is becoming the I forgot generation 😢
I am a boomer. So I learn so much here from the videos and the comments. Thank you to all!
Jake, I pulled about 240 “dead” items from my store and added about 5 hstr items a day over the last several days and I kid you not it’s like someone pushed a magical button and I am getting 5-6 sales a day and prior to this I was getting 0-3 a day. My store is just above 500 items! I am just in complete shock. I absolutely love it and of course it makes sense but now I’m having to go through a HUMUNGOUS death pile and this time I’m weeding out and donating or lotting up the junk BEFORE LISTING it. Thanks for all of the fantastic info you bring to all of us. See… an old dog CAN LEARN NEW TRICKS. 🎉
Well done exactly what I need to do I have 500 with many dead listings thanks for sharing . Love your videos Jake I am still hanging it not wanting to quit ! Thanxs Sonia ps am over remotes lol
Hip Hip Hooray!
Sellers leaving the platform is good for the rest of us. There are too many sellers who simply don't know what they're doing and they hurt sellers with their lousy customer service.
Just purchased new lighting for pictures, used camera from eBay, set up better station for pictures, ordered backed for better inventory organization. Let’s go!!!
In 2023....80% of ebay solds where New in box items...the number of solds of used items continues to drop annually, and auctions which are what ebay kicked off with, are getting less and less. The trick to eBay is still the same as always...sell what customers want at a price they want, not stuff we think is cool, and the stats show they want new items, at the 25 dollar price point. Happy hunting all!
Depends. I haven't been listing much- my full time business keeps me busy- but I have a 40 items listed now and like 90 sold on my 90 days- right at 3k dollars worth sold. Last year i sold a 750 dollar chess board on eBay. Sent costume jewelry to China and France and other places- over 100 dollars a piece and lots of smaller sales too.
Who told you that?
Good vid Jake. We all need the economic reminder. We also need to use this time to source wisely, adjust our prices, run sales, and make sure our listings are the best. Those all take discipline and restraint.
Great video. I’m a boomer and have seen the many many ups and downs our country has gone through. I think sales are going to be great with so many decreasing sellers and as you said opportunities for growth
I sold on eBay for a few years about 20 years ago, but just got back into it again last year. This year, I'm trying to do it full time as my only income because I'm losing my job this month. Sellers leaving makes me excited cuz just means there are more customers for me :)
Thanks for an awesome video as always! I've learned so much from you.
Lots and lots of memories and experiences can be bought on ebay... i have tons of vintage toys that bring back so many memories. Sellers leaving ebay is amazing
Thank you so much for this. I was really excited to start selling and started to second guess after hearing so much negativity. Thank you for shedding light on what is really going on and for your positive mindset. I’ve been binging yours and other videos for the past week and am dropping the kids off at the babysitters tomorrow to go thrifting for the first time. Grateful to you for all the wonderful info. 😊
I think about it a little different way. Ive been a seller for about 15 years and of course I love listing the higher sell through rate items but if something might take 3 months or longer to sell I list it anyway. For example I bought a bunch of Monster High dolls a few months back. Most of them sold within a week of listing. The sales on lets say 15 or so are trickling in. Im not sorry I listed them even if they have taken longer.
Very insightful video. People see an overall decrease in sellers and need to assess WHY this is happening… many people who lost their jobs due to covid now have new ones and no longer need to use eBay, people started it because they were bored during the lockdown and decided not to continue their store, etc
Jake I so enjoy spending this time with your brain 🧠 lol it always has such good info spewing out. I just LOVE smart people. I have to say as a witch & a Gen X it made me rather happy to read your thumbnail lol less sellers is more customers in our shops instead & I’m stubborn to stick this out. I’m excited about the magic this year will be bringing us. Rock on Jake & thanks again for such a great video. Hope you all have a magical day 💚
You have the best attitude and insight of any RUclips Reseller I've come across.
Desert industries prices went up big time. And this year yard sales is a gamble. I hope someone doesn't see this and go all in on his business and family ends up homeless.
Ita all about consistency and about what you have vs what sells.
Jake....you, Tech, Casey Parris, Cayley Elaine and Trash Pandas are my go to sources of who I love learning from. All of you are amazing and uplifting and so helpful in so many ways.
We are going to kill it in 2024! My view is that more ppl will turn away from retail and look for less expensive alternatives on eBay etc. as the economy worsens (could be wrong). I'm confident that our summer will be strong as my listing volume will increase due to better inventory availability from garage sales. Thank you for your videos, knowledge drops, and especially your POSITIVE ATTITUDE.
Insightful video Jake. Regardless of your title, I will always watch your videos because you've built up a reputation for excellent content since you started this channel. Your advice has help me focus on more profitable and faster selling items which has seen my business continue to grow month over month over the last 9 months of reselling. There are a some content creators who I watched in the beginning try to attract viewers through sensational negative titles to their videos which I now skip regardless of their topic. Nobody needs that negative crap in their lives. I'm here to learn and build a awesome business to supplement my meager social security income.
I agree with everything you're saying about sell through rate putting good items in your store etc but there's another option for eBay basically the opposite of the way you run things we are semi-retired, we get a lot of low sell through rate, low-volume items but most of the items we get for free actually we like saving things from the trash, people will buy anything on eBay it's kind of funny I figured it up one month we maklde $900 in sales off just free stuff... would you buy good items and put it in the store. We do have a high number of inventory I think right now we're about 6,000 listings but it's fun for us I think our 90 day is $17,000... I also do about a grand a month off Amazon scanning books and media resell it is amazing for people that just need a little bit more money or retired people that want some extra cash
I’m retired and started to sell crafts at a booth but couldn’t keep up with the booth rent. So I’d like to start selling on eBay. Just doing some research before I start. Glad to read your post. 😊
@@karenbutcher5921 Cha Ching King and The Bearded Thrift Machine are also good channels to watch. Scot (of Cha Ching King) has a lot of videos for new resellers. And yes, Jake, we also very much appreciate your videos. Lol. Sadly, there are some resellers on RUclips who either aren't very well informed, or just aren't good at explaining things. That's why I wanted to suggest these other two channels, in addition to yours, for any new resellers wanting to learn.
I’ve noticed a spike in sales lately on stuff I’ve had listed for a while.
@joeyceo4123, the same thing has happened recently on Etsy as well. Very intriguing....I wonder why this has happened, but I'm sure we'll never really know.
Great video brother! We just have to double down and work harder. I feel like resell patterns often follow closely with retail markets.
IMO sourcing is becoming increasingly difficult (eBay seller since it was auction web here)
What type of places do you source? Thrifting has become almost impossible for me so I started going to the Goodwill outlet and find all sorts of good stuff (antiques, toys, etc)
I've noticed that ebay and other business have most of their sales during Oct-Jan, every year. Based on 20 years expeerience.
Ive personally never seen a summer slow down honeslty. Only time i ever see a big noticeable slow down is when i sell a bigger ticket item. $800+ My store will be dead for like 3 or 4 days. Its weird ill go all day without a sell then right before midnight something small will sell just to keep me alive lol strange
Thanks for the information as always Jride!
Not because consumer dept? Credit card debt at all time high? I think it might be a factor bro. I hope some familes dont wind up in a bad spot lisening to this guy. Stuff is getting way harder to find in most places. Evaluate your Town's thrift stores garage sales. Maybe it might be time to quit or downsize.
Great video thanks for being honest and breaking it down !
I’ve worked 30 years in workforce development, and the economy really is not bad. Wall Street keeps breaking records, unemployment is at historic lows, job growth is as well. There are more jobs than workers. Those are all great “problems”, but it also causes wages to go up because of supply and demand. That causes inflation because people have more spending power. I remember mortgage rates at almost 18% back in the 80s The economy is red hot, but it’s an election year, so there’s a lot of misinformation out there.
Who has more "spending power"? everything you need to live costs 2 or 3x what it did 3 years ago.
@@sparkyjerred419 Well, of course. We were in the middle of Covid three years ago. People were out of work and not spending, so demand for everything was low. Recently, wages have outpaced inflation nationally, but I’m sure there are some who haven’t been so lucky.
@@Cards-In-The-ClosetEven if you go back 5 years ago necessities are now 3x what they were. Wages haven't increased 3x.
You Are The Misinformation.
@@sparkyjerred419 I’m not sure how old you are, but wage rarely keep up with prices. If you look up “Consumer Price Index for All Urban Consumers: Purchasing Power of the Consumer Dollar in U.S. City Average”, you will see our purchasing power has gone down almost every year since 1933.
@@sparkyjerred419 Are you listening to yourself? First, not everything has gone up 3X, so the whole basis of your argument is misinformation to begin with. You must be young to not realize that wages and buying power have gone down almost every year since 1933. You can live in the world of facts, or you can create your opinion on emotion and bias. The numbers prove your are that latter.
I agree ! That's why I am selling. I want to make memories with my kids.
Thanks for the motivation.
Love your attitude!
It's crazy I hear youtubers say they have to drive far for sourcing I litterly live close to every thrift and goodwill and I'm in Texas so we have garage sales yearly I so need to take advantage of this slow time
Welp, I'll keep that in mind and use your info to combat discouragement. Set the bar low as I get started.
Did you go to school for Data Analasys? I studied poker theory for a while and have a basic understanding of "the long term". The information you provide is VERY informative and nonsensicla and straight to the point. By far one of the most informative places I've stumbled upon on my journey to starting my own store. When I do your math it makes sense and how you speak in just enough crayon helps tremendously. You really can't put a price on this kinda info when you are just starting out!
Excellent points. The Psychology of Selling.
Outstanding information. Thank You.
Good stuff, man. I didn't experience Summer Slowdown last year. Fingers crossed.
Thanks for the positive pep talk.
Beautiful insight as always brother, many thanks. #welovejride
Thank you, Jake.
I looked at my PY sales report and I had rather stable sales at 2k per month every single month. That made me happy to know my store is resilient to summer slow down
Great advice to follow.
If I sell items even if at a loss given that they're items with a high sell through rate, will the algorithm favor me?
Hey @jRide or anyone else. I see that j ride sells used or broken phones on the channel for parts sometimes. I recently ran into a bulk of broken phones thrifting and I checked if they worked.
Some did some didn't. But I was approached by a cellphone seller and he asked for the IMEI and I read online not to give people that unless they buy and pay.
When I said I don't give it out until payment he said I was sketchy and was going to report me for stolen goods.
I told him this same story and said they were thrifted and bought and that I would report him for threatening and harassment and even send pics of the articles saying not to give out the IMEI.
What should I do, and are there any rules to follow on selling broken phones ? I can't seem to find any on eBay.
Once the government presses go on the print machine, wreckless ebay spending comes in
In your opinion what clothing items is doing the best in summer ?
Since the economy is down that is all the more reason to get only really good stuff.
Summer slowdown? It’s still winter
He smokes the jolly green.
One reason sellers are leaving because at one time a seller could do $20,000 in sales before having to report income. When the new administration came in, he did an Executive Order to reduce to $600 in sales on any social media outlet and surprise you get a 1099k to pay taxes which a lot of sellers are hobbyists and not accountants.
Great video!
3:24 Where are you getting that seller numbers went up in 2020? The peak in seller numbers started dropping 10 years ago.
Last July was my 2nd best month
You"ve jus stated what ebay wants everyone to do. Only sell hstr items. Knowledge is power. Theres many other platforms to buy secondhand items now. Maybe ebay should look at how they're going to prevent customers going elsewhere. Its def an issue now.
That neck beard is insane lol love ya Jride, keep up the grind!
Shave that bad boy.
Hey quick question. When I ship things that already have a box, like an electrical edger for bushes, do I have to put that box inside of another when shipping through usps?
Hey, just happened to me yesterday, sold shoes in box, so I went to the PO and ask post master about how to go about this. The post master suggested to use garbage bag, put box inside of it and wrap it with the scotch tape, and so I did exactly that. She said many people wrap their existing boxes with a garbage bag w/scotch tape all around, or brown wrapping paper.
However, if you have a fragile item in your box, you might just use different bigger box with the bubble whap.
@@togetherrrr Woahh, that is so helpful! Thank you so much!
I'm new to this. That being said, I've had an account for a long time. I sold a couple of things and then restarted recently. Made a ton of mistakes and ended up with overpriced inventory. Going to take my lumps and try to break even on a lot of smalls, then move forward. It's MY fault. Ill get through it. Started watching eBay sellers; that's how I came across you . One video you had about people trying different shit to get better results from their shitty products was funny to me. One site I came across (Commonwealth Pickers), I watched a bunch of his videos. He seems to be doing well, living the eBay life and such. Every video he has is spent slamming eBay. If you hate it so much, just leave or start your own platform. I don't think ebay is out to fuck the people who are making them money. I'm sure some shenanigans happen on some level, as they often do with the hairless apes that we are running about. INK probably wrong.
Yes, what’re the items that sell better in summer except swimsuits?
Question - do u use a cross listing program? If so, which one? Maybe a talk on how u cross list? Do u sell on Poshmark?
I'm based in the UK and an everything seller but mostly clothing and trainers and i never ever get summer slowdown in fact it's the opposite when the weather is nice people tend to get their wallets out here
People have been buying and selling "stuff" since the beginning of time. Just find those niches and buy right and list , list, list. The magic for me happened when I reached 10,000 items listed. Good video.
I actually didn’t want to click it because it had a negative title but you usually give out good information so I clicked it. I try to stay away from negativity but I also try to be realistic.
I'm also a 1995 baby and I just started last year on November and wished I startd sooner.
Basically the growth is resetting
Does E-Bay sent you a w2 for your taxes? How do you sign up for ebay and how much does it cost? What is the website that you go to so find out how much it should sell for?
Waiting to list my inventory. Everything goes up and up.
It could also be that people who were better off before will need to save on purchases and start purchasing on eBay. An option for dealing with summer slowdown is to ride the wave and go on a nice several month vacation then return and list like crazy for the Christmas season .
Just started listing a few days ago. Trying to keep up with listing 4-6 items a day. No sales yet, I think I still need to work on the sourcing/picking the right items. Could even be a pricing thing, but I'm trying to keep things inline with other sold listings.
Your videos have taught me quite a bit.
I started a couple of weeks ago. Three sales so far. Sell through rate really important. Sourcing is not easy, thrift stores are pricing too high to make a profit even when it has a good STR. Lots to learn but I’m having fun.
You still need clothes, bags, suitcases, ect… to take on those trips.
The rumors of how hard it is to be a consistent seller on ebay are true. I have been a reseller since 2001 (as my main income). I have had to supplement that income with part time jobs over the years. There’s a cap to how much one person can find / clean / picture / list each day. Which means there’s a cap to how much net income you can make.
I hope more sellers quit, that way I (might) get more sales. I would also love it if Poshmark went away (nose dived to it’s death). I know a lot of the top poshmark sellers would just move to ebay, but- I feel like Poshmark is my direct competition (since I sell clothing).
I tried selling on Poshmark (and had some success), but I hate the platform, (the sharing/following), is in and of itself a job.
That’s my rant…😂
Not saying whether it's an option for you, but the bigger eBay sellers seem to hire help past a certain point.
So glad i have a real job , ebay just too unstable for me , i wish sales werengood enough , but they are not even close
Excuse my ignorance as I’m still new to selling but isn’t it early for summer slow down?
He's looking at this from a quarterly perspective. Q4 & Q1 are notoriously great. Q2 (April-June) & Q3 have historic slowdowns so I think he's just looking ahead to April which is just a few short weeks away.
Got it…thank you…funny cause I’d think it would be slow in January and start picking up now
I just put the epr in the oil and then drive it to wherever I'm getting the oil changed, that's the lazy way
The inflation and terrible economy currently is having an effect on everything. To say ebay is immune to this is a bit silly. I found an answer in my area. Illegal have poured in here and they are buying everything. Most stuff I don't even list I drive to them and sell in their parking lots. I have to talk into their phones to translate because none of them speak English but it works.
😲 That's definitely something I would not have thought to do! More power to you!
I think you have to be a bit careful with the "record high credit" thing because that will likely always be true in the macro trend due to inflation.
Also w/ a cursory glance at the chart it seems the trend is up outside of recession periods in the economy and the trend is pretty predictable. Generally when you're looking at economic metrics you have to be careful about cherrypicking
The credit card debt is outpacing inflation significantly
@@JrideFlips According to websites that end with org, not com: Between 2020 Q1 and 2023 Q3, nominal personal disposable income rose by more than nominal credit card balances...relative to disposable income, credit card balances were actually slightly smaller in 2023 Q3 than they had been in 2020 Q1. Of course, interest rates have risen substantially over this period, so the cost of carrying a balance has increased.
Not sure what the numbers are for Q4-2023, or our current quarter, but keep in mind your own words about negative headlines. Sources make a huge difference.
😂😅 Yall definitely missed the golden era haha that shit made people rich lol Good luck SMH your gonna need it lol
Thx Jake for another GREAT video! You're a Purty Fart Smella! 😁
❤❤❤
Isn't less selkers on the platform a good thing? Less competition and less bad sellers.
Not even spring and youre talking about summer slowdown.... lets reel it in a bit
People leaving grants us a bigger market share. Less competitive.
There is no shame in bowing out before burnout. Every business has a life cycle and all end before we want them to. Why get to the point of loathing it before you pull the plug? Get out before you're desperate to unload and lose your investment.🤔😐
🤔👍
isnt better to have less sellers, just saying.. 😁
Ebay isn't viable for our new business. Inventory is already expensive without a distributor, but ebay expects us to pay 13% when we expect to only profit 7-8% on the item, which is already priced higher than the established competition. Unless we plan on starting a net-negative business, ebay is a no go for us.
Which online platform are you going to sell 7-8% margin items on and make money?
omg, your eyes
If you said eBay sales are great people would be all over it lol purely for the reason of how did you manage it haha
It's SALES not SELLS!!!!
More people should quit 🤣
First! Not that I care, lol. Just surprised.
Oh you care.... you care.
Andrew cares, so Andrew shares
If keeping the RUclips tradition going, then yes. I suppose I do care.
Everyone is buying bitcoin
People will always look for bargains. Especially when the economy is tough. I've been selling for over 25 years on eBay. And sure, things can be cyclical. But if you are selling what people want/need, they will come as long as you are offering that item at a fair price. Also, a new seller may find it more difficult than a seasoned seller when it comes to grabbing customers. Your track record plays a big part in how comfortable a buyer may be when they choose to spend their money.
I kind of wanted this video to just be a 10 minute list of things it's not because of.