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impact of immediate payment?

Original Post

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(1 of 9)

impact of immediate payment?

Jun 16, 2012 02:03 PM

I have experienced a steep drop-off in sales coinciding roughly when I implemented Immediate Payment. I don't know if that is the cause or it's just the slow Summer season. I am still glad that I no longer have a slew of NPBs all the time.

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impact of immediate payment?

(8 Replies / 430 Views)

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impact of immediate payment?

Jun 16, 2012 02:03 PM

I have experienced a steep drop-off in sales coinciding roughly when I implemented Immediate Payment. I don't know if that is the cause or it's just the slow Summer season. I am still glad that I no longer have a slew of NPBs all the time.

Last Post

Jun 23, 2012 04:20 PM

by keziak (14945

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blue*skies*ahead* (2417

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(1 of 8)

Re: impact of immediate payment?

Jun 16, 2012 03:07 PM

Keziak - You are a "Shooting Star" Powerseller that probably has more sales in a week than I have in a month.

You can try to micro-manage your selling stategies via this board, but nobody has the EXACT same inventory as you. So take this with a grain of salt....

Arguments can be made pro & con for Immediate Payment vs. Combined Orders vs. Fixed Price vs. Auction Format vs. NPB's........ ad nauseum. There is no righ answer these days.

You have to do what is right for YOU and for what YOU are selling. Don't micro-manage your hundreds of listings. You'll drive yourself nuts. Pick a strategy that works for you and stick to it.

And have some fun now that school is out.

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(2 of 8)

Re: impact of immediate payment?

Jun 16, 2012 07:49 PM

You have to do what is right for YOU and for what YOU are selling. Don't micro-manage your hundreds of listings. You'll drive yourself nuts. Pick a strategy that works for you and stick to it.

<

I do have a bad habit of trying new things in an attempt to psych out the market. I'll probably be better off to just stay the course for a while this time and see what happens.

gillchubb (7094

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(3 of 8)

Re: impact of immediate payment?

Jun 18, 2012 10:53 AM

I have a few listings in my store myself, and I can attest to the drop-off that keziak is talking about.

I've studied the impact numerically - the loss through NPB is a fraction of the lost sales. So, I dropped the requirement for immediate payment.

99+% of the buyers pay on time, even if they take a few days to do so.

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(4 of 8)

Re: impact of immediate payment?

Jun 18, 2012 12:08 PM

When you say you dropped immediate payment do you mean you edited it out of every listing or just stopped using it on new listings?

gillchubb (7094

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(5 of 8)

Re: impact of immediate payment?

Jun 18, 2012 01:21 PM

Dropped it from all listings, and didnt do it on new listings.

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(6 of 8)

Re: impact of immediate payment?

Jun 22, 2012 05:31 PM

I removed the immediate payment feature from my listings a few days ago and sales are back up. Coincidence? I don't know. But at this time of year I'll take whatever sales I can get! They are even being paid for. Immediately.

ifixtoys4u (1156

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(7 of 8)

Re: impact of immediate payment?

Jun 23, 2012 03:12 PM

I removed the immediate payment feature from my listings a few days ago and sales are back up. Coincidence? I don't know. But at this time of year I'll take whatever sales I can get! They are even being paid for. Immediately.

I don't think is a coincidence. On my buyers account I regularly buy things that I know I won't be able to pay for at the moment, bu twill be able to in a couple of days. I normally send the seller a "heads up" communication telling them I won't be able to pay them for a few days. Those are sales they may not have got with their BIN price had they required immediate payment.

On this account I give people 5 days to pay before opening a dispute and state in my listings that people have 5 days to pay. Being liberal on payment time and stating so in my listings has increased my sales, especially at Christmas time. The number of non paying purchases hasn't changed. I average about 4 per hundred, most of them at Chrismas time, no matter what my policy is. Most people still pay very quickly.

I've learned that advertising a liberal time to pay brings me more cash flow than being a prick and demanding quick payment and that it doesn't affect the NPB ratio.

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(8 of 8)

Re: impact of immediate payment?

Jun 23, 2012 04:20 PM

ouch, I never meant to be a prick but I gave it a try because I was experiencing a much greater rate of NPBs than just 4%.