I'm lucky enough to have other ebay people in my town to bounce ides off of. In fact I belong to a meet-up ebay group here in San Diego. That's where I met Joe, a fellow ebayer who mostly sells anything worth his time. He started Free Shipping in October and a few months later he informed me he sells more with Free Shipping.
I had been using the ebay promotional shipping specials with my buyers such as "Spend $49 on 2 or more items get Free Shipping" and the reason why is because when I shop on line I tend to go for deals like that. If it works for Victoria's Secret it can work for Diva Monk. LOL But I decided to test Joe's experience and try Free Shipping for a few months. So far I think it's working but it could just be a "buying week."
There are two other reasons though that I wanted to try Free Shipping and I think they are important to mention. First, Pay Pal reports shipping as income. Paypal is required to report sales to the IRS that are over 20K, this includes your shipping. When you do your taxes you can later write off the shipping but it's important to know that it is considered income. Second, I use the Global Shipping program through ebay. When I charge shipping it's added on to a priority mail flat rate which really ends up being quite expensive for international buyers. If shipping is free to my domestic buyers it also lowers the shipping for my international buyers. Are these two reasons enough to get me to keep Free Shipping in a few months? We will see.
With all this said, I will be truthful and say Free Shipping scares me for the simple fact that I feel less able to lower prices the longer an item sits in my store. Make an Offer is also compromised as most people don't factor in the free shipping and make insanely low offers. Hopefully with Free Shipping things sell quicker. and I don't have to use these two tactics to sell items. It also scares me in that I am making less, yes I can mark up the retail price but to be competitive there's only so high I can go. If however things sell faster it would be worth it. So here we go! I will touch on this again in March.
Tuesday, February 10, 2015
Monday, February 2, 2015
Winter Sales 2014-2015
Stella It was a busy holiday season! The last few years I've noticed a drop in sales after December 21st, so this year I closed shop and went to Napa and Portland. Diva Monk was closed until Jan 3rd, but I came back re-freshed and ready for 2015. Before I share some sales from this winter here are a few pics from my trip:
Now for some Diva Monk Sales:
Stella & Dot Union Square Midnight Bloom Scarf sold for $59
Super soft Timing Aztec Sweaters in Small and Medium sold for $25 and Free Shipping
Silpada Silver Necklace Sold for $60
Custo Barcelona Adam and Eve Art Shirt sold for $20
Adidas Old School Hip Hop Track Suit sold for $60
These were some of my favorites! Wishing everyone a Happy New Year!
Sunday, February 1, 2015
6 Tips to Opening an ebay Store Selling Womens Clothing
It wasn't long ago when I decided to open an ebay store selling women's clothing and I remember googling, "Should I open an ebay store selling women's clothing?" to see if others had written on the topic. There wasn't much. There were people trying to coach or sell ebooks that looked outdated, but not much on specifically women's clothing and ebay stores. I made the right decision and I'm glad I did open the store and if you are wondering if you should then here's some tips. (Keep in mind I'm no expert, I have my lazy days, I'm still and will always be learning, but I'm happy to share what I've learned so far.)
Search ebay for a handful of sellers who know what they are doing. I still watch sellers, I find it inspirational. I watch one who uses mostly "Make an Offer" on her items, one who has similar feedback numbers as I do, one who cranks out inventory at mostly auction, and one who has 10+ years of experience. In the beginning I watched how they priced, times they sold, what displays they used, what they charged for shipping and how they described their items. I knew I would eventually find my own way of doing it and that as I grew that way would change. I also bought from sellers I liked to see how they shipped the item and packaged it. I really recommend this. Looking at feedback will give you an idea of how much you could be making, not everyone leaves feedback so add 40% to whatever you research. And lastly, if you have questions, reach out to a seller and ask. I now email and talk with some of the sellers I watch, once you open your store these are the people who are going to understand what you are doing. Your family and friends are going to tune you out once you start talking ebay talk! Most sellers are friendly; this market is not competitive because your store will attract buyers with your same taste. Ebay market research shows that even when an item is cheaper buyers will still purchase an item from a listing that they identify with.
Before a store, I sold my own used clothes and I was happy to get $5-$10 for most items. Those auctions were only a week, a store is open 24/7 365 days a year WORLD WIDE. You can price an item that is in excellent condition much higher because it has exposure, time and value. Opening a store means it's now your job. It takes time to list and select items for your store so you need to get the most you can and a store helps with that. When I shop for the store I try not to buy anything that wouldn't sell for less than 14.99 and prefer as much as 39.99 or 49.99 because that is what I would pay for the items I list. I list items at what they are worth here in San Diego, CA (our cost of living is higher then most US cities) and for what I would pay for them. That might not be what some women would pay in other states but I know there are other stores that cater to that buyer. Because I live in a higher cost of living state, I tend to attract buyers from other high cost of living states like New York and Hawaii.
Your business IS going to grow and ebay will gladly let you upgrade later if you need to, but downgrading is not as fun. Plus why waste money when you are stocking the store, stocking takes time because you may list 5 things that day and sell 3 so already you are behind in stocking (but ahead in financial independence..whoot whoot! ). You do need to stock to make consistent money. Your first 6 months should be at the first level of store while you learn and get used to the pace. You can still get the year deal and upgrade later. Ebay wants you to succeed and will work with you. The other reason to start here is that to begin, you will have selling limits mandated by ebay. They know people go in all excited and that sometimes that flame burns out so ebay has limits on how much you can list. As ebay trusts you more they raise those limits. Ebay will also be offering you special listing offers you can opt into, at least once a month they offer sellers free listing incentives. Take your time, enjoy the sells, soak up the independence... you got this!
While I'm a smart phone junkie and mostly use smartphones for all ebay tasks. I use a leather desk planner from Barnes & Noble that is in the monthly format to manually track my sales each day. This has helped me to see trends with buyers such as when they are getting paid and when they are not buying due to holidays and big events. I highlight Holidays so that I don't get down when things aren't selling and so that I don't end my items during that time. I also mark Superbowl, Oscars, and other once a year events that people tune into. Your sales will be all over the place ALL the time. It's like gambling, you will get on a role and then...crickets. Sales has a flow of ups and downs, so hang in there! If you are starting in the summer when ebay offers store opening deals, keep in mind it is our slow time of year. It's perfect to stock but you may not have an idea on what you will really be making until September.
I wrote this in the beginning of my calendar to remind me. In the beginning no matter how cute that top is, if it's a no name brand don't buy it for your store.Buy name brands people can search for. If you are listing things from your own closet, same rule applies. That cute top will sit and fill a selling spot. It will eventually sell but it's costing you more then you realize and you won't get the return. Every once in awhile I test this selling proverb given to me by another wise seller and every time I regret it. I'm passing it on to you.
I want to know I can trust a seller, I want shipping to be reasonable, I want good pictures and descriptions, I want my item shipped quickly, I want my item shipped in new packaging and not a macaroni box. (Yes that happened to me, and yes my feedback was "I will wear my new bra while eating mac-n-cheese." ) If a seller makes a mistake like sending me the wrong item or sends me an item with overlooked defects, I want that seller to communicate with me when I email them. Above and beyond all I just said, I like to feel like I know the seller, no need to be overly "business like"... be yourself. I use humor a lot and ok, many people won't get it but those that do...they come back. I also tell buyers why I'm doing this business, Diva Monk (that's my store) supports the arts. What I don't tell them is that it also supports hospital hospice care (I shop at their thrift store), pledging shelter dogs on the Euthenization list (I can't help it and I use pay pal to do it), and frees my time to be more present in my own life and the life of others. So to close I will say, ask yourself why you are doing what you are doing I bet there is an amazing answer behind the obvious one. Then go do it!
Be Sure and Visit the Diva Monk Store!
Sunday, January 25, 2015
IKAT Print - The mother of Tie-dye!
One thing that is very consistent in the inventory that is choosen for Diva Monk is prints! From plaids to leopard, prints inspire me. Today I wanted to share a "prized print," or personal favorite. Ikat prints are becoming more popular especially in Interior Design, so I researched this amazing print and here is what I found:
The word 'ikat' comes from the Malaysian word 'mengikat,' or 'to tie,' because the loose threads are tied into bundles using grasses or wax-treated cotton to specify where the dye is able to sink in and color the thread (basically a refined type of tie-dye). Basically, the weaver has to figure out where on the loose threads the dye should go in order for it to form the proper pattern when it is woven on the loom. It gets more complicated as you add more colors. Some ikats are made by dyeing the warp threads, some by dyeing the weft threads, and some by dyeing both, a technique known as double ikat.
The word 'ikat' comes from the Malaysian word 'mengikat,' or 'to tie,' because the loose threads are tied into bundles using grasses or wax-treated cotton to specify where the dye is able to sink in and color the thread (basically a refined type of tie-dye). Basically, the weaver has to figure out where on the loose threads the dye should go in order for it to form the proper pattern when it is woven on the loom. It gets more complicated as you add more colors. Some ikats are made by dyeing the warp threads, some by dyeing the weft threads, and some by dyeing both, a technique known as double ikat.
I found this Ikat on google as a free-bee so have at it if you want a background.
All my best,
DM
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