In this Thrifting For Profit Podcast we discuss … The Pain and Frustration of Selling Physical Products Online.
In this episode – I’m sharing your pain. We are all frustrated at some time… frustrated with sourcing, slow sales, product returns and all the other “stuff” that comes with selling on Amazon, eBay and other selling channels.
Today I am winging it on my own for the first time. No help in the chat room and I feel as if I’m talking with myself. LOL
1 – What’s up this past 2 weeks
Last week was the first time I didn’t have a podcast. It felt a bit like I was skipping a school day – a little guilty.
I did have a good reason for missing my weekly chat… I spent the day learning with Danni Akerman and a group of “Appsters” in Las Vegas.
This day may have looked like a day of shopping – but it was a day of learning. Of course, I did shop as well… I couldn’t help myself. It was also a day of many frustrations. We (hubby and I) were in charge of taking pictures and video of all the important “teaching moments” (which was constant) and our video camera decided to give us problems.
We ran out of battery after about 50 minutes of filming – and we couldn’t get the darn thing to charge! Hubby even ran down to an electronics store to get a new video camera, and of course nothing is sold at this store with all the “right bells and whistles”. My old video camera took regular batteries that you could buy off the shelf… this newer version does not.
Anyway… we were taking video with our phones, the still camera (that had a video function) and our tablet. What a pain in the neck! It was actually hysterical. No one in the group (except Danni), knew what we were going through.
You can read all about it the entire day here: A Day With Danni Ackerman
I Sold It On Ebay –
I made my first sale on eBay yesterday. Not my first “Ever” sale – but my first sale in I don’t know how many years. I had a total of 17 things listed on eBay and knew it would take a while for anything to sell. I wasn’t really worried about how to complete a shipment yet.
Was I surprised last night when this sale came through and I had to actually figure it out! Thank goodness for Facebook groups… I asked about the best way to ship this and got the answers I needed right away. Danni Ackerman’s The Danni App Facebook group and the private membership group – The Appsters saved the day.
I sold this Teak Salad Bowl Set – I got it at a thrift store for about $5.
We spent some time on the podcast talking about how to ship things when selling on eBay.
Also – Danni gave some good points about “WHY” you want to keep selling on other platforms and not keep all your eggs in the Amazon bucket.
2 – Thrifty Flips I’ve Sold This Week:
Fujifilm 3PK VHS-C VIDEO 30-MIN ( 23025038 )
Paid $3 NEW – Sold for $24.98 (I don’t know why it wasn’t priced at Magic $25???) – Took 9 months to sell
Nordic Ware Pro Cast Stadium Pan
Paid $5 – UVG – Sold for $49.99 – Took 2 weeks to sell
Danni beat me out sourcing this one when we were thrifting together:
She is selling on eBay because on Amazon only selling for $12 used – eBay triple that! Good idea to check where items sell for the most profit… it may not be Amazon.
Monopoly – Star Wars Episode 1 Edition
Paid $4 – CVG – Sold for $25 – Took 9 months to sell – This is an OS game which means the shipping is more and the fees are higher.
The Discovery Channel Nature Scrapbook
Paid $4 – New – Sold for $35 – Took 6 months to sell.
The Quiet Man [VHS Tape] 
This is a John Wayne movie.
Paid $3.25 on Ebay – Sold for $25 – Took 6 months to sell
My First Brain Quest Matching
Paid $1 – Sold $25 – Took 10 Days to sell.
Nickelodeon Spongebob Squarepants Jelly Fish Chase 2 in 1 Pillow and Throw
Paid $4 – New – Sold $29.95 – took almost a year to sell.
Want to hear about MORE GREAT FLIPS? We share flips often in our free Thrifting for Profit Facebook Group. Come join in the fun!
(note: this is a free group. To sign up just click here, then click on the “join” button and we’ll add you to the group ASAP.)
3 – Main Topic
Today we are talking about the pain and frustration of selling physical products online. I wrote an article about this very topic back in December 2011!
I’d only been selling on Amazon FBA for about 7 months when I wrote that article… and I’m still feeling similar frustrations now. They may not be exactly the same today as they were 18 months ago… but they are very similar.
Slow Sales – Days and Days Of Little OR NO Sales
I’ve been selling on Amazon for over 2 years now… and I still have days where I say – “Why did the sales dry up?”. I’ll be going along, selling products at a good clip… feeling great about my Amazon business and the profits I’m making – Then BOOM – the sales drop off to a trickle for days. I feel this sinking feeling in my gut.
I’ll spend time – “jiggling prices” (repricing my products) – which works “sometimes”, to get sales moving again. If I start seeing sales on products I’ve “marked down” – it feels better… until I start looking at the “profit” of some some (or all ) of these sales. That can start an entirely new sinking in your gut feeling.
I’ve even checked to make sure my products are still “active” – meaning I’m checking to see if Amazon has pulled my selling privileges for some reason.
One of the Facebook members wrote:
“When sales go fantastic for days then slow to a crawl it’s so easy to get discouraged…….then all of a sudden I sell a book I bought for 49cents for $75.66 and that old excitement comes back again! We just have to trust the system. We feed the beast, the sales will come. It may be all at once or spaced out but they will come.”
We talked about selling products locally on Facebook groups – one of the listeners shared this one:
Returns – They DO Feel Personal
I don’t mind a few returns – every so often – but some weeks it just feels like I’m getting slammed with returns. I take this very personally – and I shouldn’t.
I use http://www.fbamanager.com/ to keep up with returns and if I’m owned money from Amazon. I love – love – love this little “App”.
When You Owe Amazon Money – No Money Owed To You
I remember when I first started to sell on Amazon FBA… it just seemed like I was never going to get out of the red. And when I did – it only lasted for a few days and then some other fee or shipping cost would slam me back into the red.
Everyone Else Seems To Find The GREAT Scores
Do you ever feel “dumb” when it comes to sourcing? Yep, I’ve felt that way.
That’s my story… and I’m sticking to it…
Next week’s show….
Christmas In July! If you haven’t started thinking about it – It’s time to get ready for the 4th quarter.
Listen live to the show Fridays, 2pm ET at http://thriftingforprofit.com/listen