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Last Post Jul 22, 2008 1:40 PM by: deirdre@ebay.com
Replies: 88
deirdre@ebay.com
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jun 29, 2008 11:10 PM
Topic: Member Workshop: Successful Product Sourcing for the Holidays

Host: whatdoisell
Date: Tuesday 07/22
Time: 11:00 a.m. to 12:00 p.m. Pacific time
Location: Workshop Board

Description: The holiday selling season is just around the corner and buyers are heading online to shop earlier than you think! But will you have the products they want? Creating the right product line mix is essential to your successful holiday sales. Without a correctly balanced product assortment, you'll be unable to offer your buyers the products that excite them, attract buyers to your listings, or increase your final sales tickets through cross-selling or up-selling. Please join Lisa Suttora Founder/CEO of Certified Provider WhatDoISell.com and featured speaker at eBay Live! 2008 Product Sourcing Panel as she discusses how to put together a winning product line for the holiday season and make this your best holiday selling season ever!

Cheers,

Deirdre
eBay Community Development
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:01 PM
Hi sallie7434,
Welcome to WhatDoISell.com! Be sure and stop by the Discussion Forum there and say hi! You'll find lots of great support and ideas there.

I took a look at your store and what I would recommend if you would like to pursue SouthWest collectibles is to dig deeper and see what unique SW collectibles that you can find that are being sold on eBay.

The more generic SouthWestern products are pretty saturated on eBay, however if you study the type of products that are being sold on eBay - and look for a niche or product line that is not heavily represented on eBay, you'll be able to approach your product line from a different angle.

The other thing that you'll want to do is research the demand for SouthWestern products. A few years ago, demand was really hot for that style. It may have cooled a bit.

That doesn't mean you can't sell successfully in that niche, but you'll need to source the types of products that people are looking for today in the that theme.

So picking up some magazines from the newsstand (There are a couple devoted just to SouthWestern living) will give you what you need to get in touch with what products buyers are looking for.

I love forward to you being a part of the WhatDoISell commmunity and helping you build your eBay business!

Lisa
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deirdre@ebay.com
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:01 PM
Hi everyone:

We're almost out of time. We'll close the workshop and Lisa will continue responding to your questions and look at your stores.

Please stay with us or if time doesn't allow, check back in a bit. Workshops are archived so the information is available when you are.

Thanks for joining us today!

Deirdre
eBay Development
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:09 PM
Hi bournent,
Great to see you here! And thanks for your comments about WhatDoISell!

There are a couple of things to think about when determining quantities for the holidays - because you're right, it's difficult to assess how much product you'll need if it is a product you haven't sold before.

If you under order, you run the risk of trying to re-order in October and finding that your supplier is out of stock.

If you over-order, you run the risk of having excess inventory at the end of the season.

It is challenge for all online retailers!

Here are a couple things you can do -

If you have any order history from the previous year, look at those sales reports and get an idea of what your past sales volume was.

If you didn't keep that information you'll want to track it this year so you'll have some guidance for next year.

Calling your suppliers and asking them about which products will sell is also a great idea. They will be able to tell you which product lines they anticipate to be hot sellers, which they have sufficient inventory on, and which they expect to be back ordered on.

Also, find out where their inventory is coming from.

If they have a hot product and they are re-ordering inventory for delivery in October. Chances are in reality, it will never make it to the supplier in time.

If the warehouse is in the US and they are building products in the US, you have a better chance of re-ordering - so that is an important question to ask them.

The other thing you can do is start "seeding" products early in the season as we talked about above in the workshop content.

If you start listing products now that you anticipate will be popular and they start moving quickly here in July, you have a pretty good idea that the volume will pick up for the holidays.

Then you can reorder more stock earlier.

Ultimately there is always a bit of guesswork involved in determining inventory volumes - no one - even the most experienced buyers for big department stores hits it right on!

But using the process I described above will enable you do make the best and most informed product sourcing decision possible.

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:21 PM
Hi golfc3,
I took a look at your listings and right now you only have 4 items listed, so it's hard to tell right off the bat what could account for your slower sales.

But let me give you some things to look into -

1. Were the products/brands you were selling in demand? You can determine this by using a market research tool like Link

If you find that demand is low on the products you were selling, you'll want to look at different brands.

2. Are you competing with a competitor who has major market share. If you are competiting against a big seller on eBay but are not differentiating your business in any way - it will be a tough go.

Golf products are a competitive industry so you'll want to look at your competition and then see what products and branding you can offer that are different from what everyone else is selling.

3. Branding. In order to attract buyers to your store, you're going to need to brand your business -and it's really difficult to do that without an eBay store.

With a store, people can find you 7x24. With listings only, there is no fixed place for people to find your products.

You will also benefit from the marketing tools that come with your eBay store.

5. Sub-niche and micro-niche. Look at sub-niches and micro-niches in the golf arena - there are new products coming into he marketplace everyday - so you'll want to read up on all the trending information for the golf industry to look at up and coming products to sell.

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:26 PM
Hi lettinggo444 ,
Yes, you'll want to get an actual copy of the book, look in the front and back cover/pages and find the publisher.

And then call the publisher to see who their distributor is. Sometimes you'll actually find the distributor's name in the book as well.

But the publisher will definitely be able to point you in the right direction!

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:27 PM
Hi rollingt1411,
Great to see you here! :)

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:31 PM
Hi Everyone,
Just to let you know I will answer all questions that are posted, so keep watching! :)

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:44 PM
Hi lettinggo444,
One thing that is important with gift sets is presentation - for example, you'll want to put them in a nice (eco-friendly) basket with wrapping and ribbon and then give them a name to make them exclusive.

For example "Healthy Cottage Bath Salts" (Healthy Cottage is a great brand name by the way.)

Or "The Healthy Cottage Weekend Spa".

By doing that, all of a sudden you turn your group of products from a bundle to a brand and product experience.

For your product line you've got some great products and brands, however there are two things that I would recommend that will help your sales.

First, hire someone to create a custom listing template and logo for you to brand your business - it doesn't have to be super expensive, but it does have to have a good look and feel to it.

You have a brand, now you need to market it!

Go to Google and look at how some of the other eco-friendly websites are branded. It will give you some ideas that will help get you thinking about how you want to brand yourself.

Secondly, look at bringing in some higher priced products that are not consumables.

Look at eco-friendly furniture, accessories, handbags etc.

Don't go all out buying inventory, do some test marketing.

These higher priced products will help to raise your average ticket price.

Also, for things like the eco-bags - sell them in sets of 3 as well.

Then one purchase becomes a purchase of 3 and your final ticket price goes up.

You really are doing a great job with your business - it's time to turn it up a notch and brand yourself, make the look and feel of your store and About Me pages and listings reflect the lifestyle products you are selling.

Oh, and start an eco-friendly newsletter for your customers and offer coupon incentives as well!

These strategies will help to generate more sales!

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:55 PM
Hi sherryssugarshackltd,
You have a fantastic store and great branding!

To get ready for the holidays you'll want to focus on three things, marketing, marketing, marketing! :)

Now is the time to start getting the word out about what a GREAT product you offer for the holidays.

For some ideas on ways to do this, Google the personalized M&Ms site. You'll see the sales copy they use to promote their seasonally branded M&Ms.

Start by writing Top Gift Articles. You can publish them on eBay in Guides and REviews as well as in article marketing.

Send out Press Releases. Ecommwire (over at Auction Bytes is a good place to start for press releases.)

Ezine Articles is a good place for article marketing.

Pay Per Click Ads to drive traffic to your products is another option (we have a class on how to promote your eBay business using Pay Per Click Ads at WhatDoISell.com)

Send out coupon incentives to everyone on your email newsletter list.

Run limited time specials each week in your store.

From a visual standpoint you need to spotlight different products each week in your store and tell your customers WHY this is the greatest gift they could give someone for the holidays.

Feature testimonials from past satisfied customers!

Give visitors to your store ideas of ways they could give your products as gifts and seed their minds with cool ideas they haven't thought of before!

Everything you sell now should contain promotional information about your holiday purchases and specials.

And don't forget offline advertising too.

Business cards and flyers for your products should go everywhere!

Car decal advertising would also lend itself perfectly to your business as well!

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 12:57 PM
Hi mrsdwyersgifts,
You absolutely need a store to brand your business and to give your customers a stable, branded, experience and a way to find you 7x24.

You need the marketing tools your store offers, as well as the search engine indexing that comes with a fully optimized eBay store.

In short, if you want to run a business on eBay, a store and listings must both be part of your business model.

Great question!
Lisa

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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 1:01 PM
Hi mrsdwyersgifts ,
The fastest way to find suppliers for you niche is to locate trade shows that sell licensed sports products.

Also, looking at the trade show websites and trade publications will connect you with those suppliers.

Google these keyword combinations "sports licensed trade shows" "sports licensed trade publications" "sports licensed trade associations"

look through the pages of the search results and you will find the industry shows and publications where suppliers exhibit their wholesale merchandise.

Lisa
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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 1:10 PM
Hi Everyone,
We've covered all the questions for today! Thanks for all your excellent questions and for coming to today's workshop.

And a big thank you to everyone for all your fantastic comments about WhatDoISell.com!

We really do have an awesome community people who are running many types of online retail businesses at WhatDoISell.com!

If you're not a Member of WhatDoISell.com but would like to received our free newsletter and 15 day e-course, you can get access here at Link

I'll be back the 3rd Tuesday of next month with another holiday product sourcing workshop "Holiday Trends 2008".

I look forward to seeing everyone at next month's workshop!

Lisa Suttora

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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 1:11 PM
For Further Information

Did you like the quality and value of the information you received during this workshop?

This is just a small example of the kind of online retail education and support Members of WhatDoISell.com receive each week!

Don’t put yourself in the unenviable position of trying to build a business on your own. At WhatDoISell you’ll have a partner in online retail success!

With step-by-step business building strategies, in-depth training from Lisa Suttora and other industry experts and ongoing personal support in our Success Forums, WhatDoISell.com is your partner in online retail success!

Give your business on eBay that WhatDoISell.com
Advantage today!

We look forward to having you as a part of the What Do I Sell.com™ community!

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Member Workshop: Successful Product Sourcing for the Holidays - July 22

Jul 22, 2008 1:40 PM
*whew!* another marathon workshop and a great one at that!

Thank you all for participating in today's workshop and for the great questions. This concludes the "Successful Product Sourcing for the Holidays" workshop. Be sure to check the Workshop Calendar for upcoming workshops.

Hoping to see you again soon at a workshop!!!!

Deirdre
eBay Community Development
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