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What is eBay?
eBay is the world’s most renowned website for buying and selling products, from both private and business accounts. There are millions upon millions of registered eBay accounts, with 17 million unique visits per month from the UK. According to Experian Hitwise, eBay accounts for about 15% of all online transactions.
So what about the buying prospect? Well, there are around four million who choose eBay to sell their products online every month, with approximately 190,000 UK companies included in this. Fashion has proven to be one of the most successful industries for online stores, accounting for about a fifth of this total (about 4.5 million shoppers search the eBay fashion category monthly).
How does eBay work?
Although eBay started as an online auction site, where the highest bidder wins the item, it is now much more than that. It is a real market where sellers can list items at a fixed price and even open their own “store.”
Essentially, the way it works is for a seller to list an item, add photos and a description, and choose a price and shipping options. Buyers can bid on it or “Buy It Now.” When an agreement is reached, buyers make payment through any of several payment options, and the seller ships it.
What are the requirements to sell on eBay?
If you have not yet set up an eBay account, you will need to do before the listing goes live. Again, this is a simple process, and the details can be changed and updated as desired. Some of the things to add to your eBay account include:
- Telephone number (including dialing code).
- Organize your automatic payment method for seller fees
- Make sure your feedback profile is public
- Choose the various payment methods that buyers can use
- Verify your PayPal account.
How do you earn money on eBay?
Before you can make money on eBay, you will need to set up an account and start listing items. You don’t need to have an eBay store to sell on eBay and make money on eBay. You can sell items with your eBay username without setting up a store.
How much money can you make on eBay?
200,000 sellers are earning more than $100,000 in sales
Pros of selling on eBay
- eBay’s easy-to-use inventory, listing, and sales tools make it easy to sell your products on-site, and they do it quickly.
- Immediate access to millions of potential clients
- Excellent Seller Protection: As eBay says, “We strive to help all of our sellers succeed on eBay, so we’ve put in place several protections so you can sell with confidence.”
- eBay listing is simple – you need to add your product to inventory, and it is LIVE
Cons of selling on eBay
- eBay tends to attract bargain buyers who visit the site for a cheap deal. That, combined with the large volume of sellers, means that companies must be prepared to list competitive prices.
- One of the downsides to eBay’s quick and easy setup is that there isn’t much room for customization.
How do I sign up to sell on eBay?
- Navigate to the eBay site you want to register
- Go to the registration page.
- The image shows eBay.com, but the link is in the same place on all eBay sites.
- Select a personal account or a business account.
- Enter the required details and select Register.
What is the website for eBay?
Does eBay have an app?
You can start selling with the latest version of the eBay app on iOS and Android devices.
You won’t win the coveted Power Seller title on eBay in just a week or two. It can take time to build a successful eBay store. As with any small business, identifying market needs, deciding on the right prices, increasing your customer base, and providing excellent customer service are the keys to success. But if you think you can run a successful e-commerce business without going through eBay and paying eBay fees, you can always set up your website and sell your items there.
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