How to Make Money on eBay in 2023

Last Updated:
November 17, 2022
Author:
Mike

Make Money on eBay in 2023

While it was originally an online auction site, eBay is now a popular online platform for entrepreneurs and small businesses. In fact, there are many ways for people to make money on eBay in 2023, whether they have a business, or not. Below are tips on how you can start making money using eBay.

Understand Your Customers

While it is possible to sell the same product on multiple marketplaces, however, it’s important to understand who shops where. Often, shoppers on eBay are looking for niche items or limited edition items. So, if you are looking to sell used items, vintage products, limited edition products, collectibles, or any hard-to-find items, eBay is the best marketplace. However, be aware that eBay buyers are often looking for a great deal, so you must price products competitively.

Ensure You Can Restock New Products

Once you have decided on products to sell, whether it is collectibles or vintage goods, you must work out where you will source the items. Many eBay sellers frequent yard and garage sales, along with thrift stores to find inventory. This will be inconsistent, especially during winter when there are fewer garage sales. Additionally, this can get costly so ensure you have a budget in mind when you go shopping, so you can make a profit. To build a sustainable business, you will need to find a way to source products, or have a large inventory where you release small amounts of products.

Make a Plan For Order Fulfillment

One of the biggest challenges you will face after you build your inventory is shipping. Shipping products, especially heavy or larger products can be expensive. Luckily, you can charge the customer for shipping, but, many customers won’t want to pay a large amount for the shipping. Therefore, you must investigate your shipping options to get the best prices and service. After all, you want to be sure the shipping provider takes care of the package during transit to avoid damage. Consider having your processing time clearly listed, along with any shipping provider details, so customers know how long it should take for products to arrive to them. You can even consider outsourcing your order fulfillment through eBay or a third party.

Offer Amazing Customer Service

To make money on eBay, you must prioritize customer service. Customer feedback and ratings are critical components for success on eBay. After all, potential customers will not buy from you if you have a low rating, even if they love the product. Ensure that you always respond to customer queries within a reasonable timeframe. Typically, eBay shoppers expect a response within 24 hours, otherwise, they will likely look elsewhere. Set up a plan for how to respond to customer queries before you start selling, as having templates can speed up response times, especially if you have multiple conversations happening at once.

Take High-Quality Photos

The best way to sell products and make money on eBay is by taking good photos. As people are buying the products without seeing them in person, a range of photos is crucial. You should make sure that you have photos of the product from all angles, showing the front, back, and sides. Furthermore, if there are intricate details or damaged spots, include close-up photos of them. This not only improves your listing but also customer service, as customers know exactly what to expect.

List Items Each Day

While it may be tempting to list all your products right away, this isn’t a great strategy on eBay. This is because eBay will promote the newest listings at the top of the search results. Therefore, for the most visibility, post new items every day.

Use the tips above to make money on eBay in 2023, and start earning a little bit of money on the side. Or, find a good niche, and create your own business, the choice is yours.

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