Member Workshop: Know the Best Time to List - Oct 06 in Community Help Boards in Community

Last Post Oct 6, 2006 12:02 PM by: deirdre@ebay.com

Replies: 74

Member Workshop: Know the Best Time to List - Oct 06

Sep 29, 2006 12:23 AM

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Topic: Member Workshop: Increase your eBay Sales – Know the Best Time to List

Host: terapeak
Date: Friday 10/06
Time: 11:00 am to 12:00 pm PT
Location: Workshop Board

Description: Terapeak marketing team Sarah Taheri, Dave Frey, and Morgan Brooks will be hosting a workshop introducing you to some tools that you can use to find the best times to end your auctions. There are a variety of free and paid tools that eBay Sellers can use to find out how long to list an item, what time of the day or week to end an auction, or what times of year see big spikes in demand. We will even show you a few cool trends that illustrate the huge spikes in sales that occur over the holiday season! Come join us as we show you some of the research tools available to eBay sellers!

Cheers,

Deirdre
eBay Community Development

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Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 10:58 AM

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Welcome and thanks for joining us today!

We love workshops to be interactive, so please feel free to ask your questions that directly relate to this topic.

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Cheers,

Deirdre
eBay Community Development

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 10:58 AM

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Slide #1

Greetings Everyone!

Welcome to our workshop, “Get More Money for your Items – Know the Perfect Time to List” The Terapeak marketing team, Sara Taheri and Morgan Brooks are here to answer any questions you may have. We like our workshops to be very interactive so feel free to jump into the discussion at any time. If you are unsure how a workshop is done, feel free to ask for help.

Today we are talking about how you can use market research to find the best time to list your items to achieve maximum profits. This is an important topic because planning your auctions can have a large impact on your sales. For example, selling school supplies too early could result in few bids and low sold prices, selling too late could result in no sales. You want to pick the best time that gives you high traffic and high selling prices.

In this workshop we will use analysis from Terapeak’s online market research tool to illustrate some simple things you can do with your auctions to increase your success rate.

Here is what we will cover today;

Planning your Holiday Selling

Best Time of Day/Week to List

How Long to List your Item

What Time of Year See’s Big Spikes in Demand

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:00 AM

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Slide #2

Planning your Holiday Selling

Being ready for the busy holiday seasons can be challenging. Thankfully, tools exist that you can use to be more prepared. For example in Terapeak research you can find out:

- What costumes are going to be the most popular at Halloween
- What items are going to be Hot sellers at Christmas

Although we are not psychic we can show you the current trends for your items (whether sales are increasing or decreasing), that way you can see if they are going to be top performers when it comes closer to the holidays.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:00 AM

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Slide #3

Example 1;

A common question for eBay sellers is what they should stock up on, for Christmas time. Every one wants to have plenty of the Hottest selling products!

A well known Christmas phenomenon was “Tickle me Elmo”. It has been 10 years since they were going for over $1000/toy. Since then they have released all kinds of Elmo’s, in hopes of another phenomenon. There has been Rock ‘N Roll Elmo, Country Elmo, Chicken Dance Elmo…etc. They released one each Christmas in hopes of another phenomenon. This year is Elmo’s 10th anniversary; to celebrate they are releasing a revolutionary new tickle me Elmo called “T.M.X”.

How would you know to stock up on these NEW Elmo toys?

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:01 AM

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Slide #4

With Terapeak you can watch the sales of this new toy directly after its release and see whether it’s going to be a phenomenon or not.

Within 7 days of its release, the new Tickle Me Elmo had sales of $3,304,073 and 379,914 Bids!!! After seeing this I know I will definitely buy one…if I still can!

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:01 AM

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Slide #5

Because Terapeak allows you to see the 2 years of data for Categories, this can be helpful with planning your selling. You can see that over the past two years Christmas sales for Elmo’s on eBay have been extremely minimal…until September 2006, where they shot through the roof!

This data shows that the new Elmo may not be a dud like all the rest, and may be something to invest in.

Learning Objective

You can use Terapeak to plan your holiday selling. Tracking the success rate of products can help you plan what items you should invest in.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:02 AM

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Slide #6

Example #2:

If you wanted to have an idea of the hottest selling costumes this Halloween you could check our list of closed listings and see which costumes have received the most bids;

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:02 AM

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Slide #7

If you are unsure of what age range you should carry for your costumes, you can also use Terapeak to compare different types of costumes against each other:

In the graph you can see that “Infant’s & Toddler’s” costumes are the top costume’s followed closely by “Women’s”.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:02 AM

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Slide #8

Once you have chosen which costumes to purchase, you can also use Terapeak Research to find out the best time to list to get the highest selling prices and increased traffic.

A 2 year trend graph in Terapeak shows you that sales for "Halloween Costumes" begin to rise at the end of August and sales reach a maximum in the week of Oct 11th – Oct 17th. After this week sales drop by 75% (in the week of Oct 21st-27th).

Learning Objective

Researching helps you get more out of seasonal sales patterns! If you were in the business of selling costumes you could use this data to plan your selling. You would know that you should start listing around the 3rd week of August, and try to have all your costumes sold by the 4th week of October. Terapeak research like this can be performed on the item of your choice.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:02 AM

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Slide #9

Best Time of Day

Another important part of selling on eBay is ending your auction at the right time of day. Every item is unique and each will have different demand throughout the day.

For example above is a search we performed for “US Collector Coins”. The graph shows the number of total listings vs. the number of successful listings for each hour of the day. Demand for this item seems to be very strong between 6-9pm.

If I were selling this item I would list between 7-8pm, at this time there is high demand and less competition than between 8-9pm.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:02 AM

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Slide #10

Best Time of Week to List

Choosing the best day of the week is also very important. If you look at this example of “Bob Mackie, Designer Edition Barbie” you can see that demand fluctuates throughout the week. As you can see Monday has the highest Average Sold Listings, the highest Sell-Through and the highest Average Sold Price.

It definitely pays to do some research to find the best time of the week to end your auction, that way you know when you will have the greatest success for your particular item. Research allows you to track buyer behavior and plan your sales accordingly.

Learning Objective

Timing is everything and with Market Research you can pick the best day of the week and hour of day to end your auction. Don’t just guess a time, do the research and come out on top!

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:03 AM

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Slide # 11

How Long to List your Item

When determining listing duration you want to look at both the amount of listings on that day and the amount of listings that ACTUALLY sold (Sell-Through) on that day. You want to make sure that the amount of listings is high enough, so there is a large enough sample size, but not too large, that there is too much competition.

Based on our research on “Golf Clubs”, we have found that listing for 5 Days would be the wisest. Of the 27,716 auctions listed that day, 44.19% of them sold. The sell-through rate is higher for 10 days, but this is only based on 3,804 auctions.

Learning Objective

Market Research can help you figure out how long you should list your item. Choosing auction details can be difficult and Market Research can be used as a guide to the best options for your auction.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:03 AM

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Slide #12

What Time of Year See’s Big Spikes in Demand

One of the big mistakes we see beginner sellers making is that they neglect to account for the time of year that their auction is listed. But the fact is, the time that your auction is listed will have a big impact on the number of people who see your auction, the number of people who bid on your auction, and thus, the price you get for your item.

To illustrate our point we will run through a few examples of how planning your auction properly is very important.

Hockey Cards

*Highest Selling = Feb-March*

Baby Clothes

*Highest Selling = Oct 9th – Oct 14th*

Baby Strollers

*Highest Selling = Mar 18th – March 24th*

As you can see every item is unique in regards to their yearly spikes in demand. Research can be used to find your item’s yearly spike in demand.

Learning Objective

Market Research can help you plan the perfect time of year to list your items on eBay.

Member Workshop: Know the Best Time to List - Oct 06

Oct 6, 2006 11:04 AM

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What is the best time of day/week to end an auction on jewelry? And on Art?

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Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06

Member Workshop: Know the Best Time to List - Oct 06