As one of the biggest eCommerce platforms, eBay offers customer-to-customer and business-to-customer marketplaces. Starting in 1995 as an online auction website, eBay transitioned in the past years towards an eCommerce website offering fixed-price listings like on Amazon rather than auctions. This change is reflected in the share fixed-price listings of eBay’s gross merchandise volume in 2016, which was at 87%. eBay reaches more than 171 million active users in over 190 markets worldwide while running websites in 27 countries. They have more than 1.5 billion product listings worldwide, which demonstrates its popularity
eBay UK is one of the UK’s biggest online retail platforms with a market share of 8% in 2015, only behind Amazon (16%) and Tesco (9%). 23.5 million customers buy on eBay UK per month making it an attractive market for third-party sellers to offer their products..
Algopix’s eBay UK product research
For example, while searching for an iPhone 6 on eBay.co.uk, you are confronted by thousands of identical offers. On the one hand, this reflects the immense competition eBay’s marketplace inhabits. On the other hand, it reveals eBay’s cluttered way of displaying their search result page. In order to be displayed in the top 5 search results, you need to optimize your listings and have positive customer reviews, which in return, will increase your sales. Nevertheless, with fierce competition optimizing listings will have a limited effect on your ranking which is why assessing the competition level is an important aspect of sourcing new products. Algopix’s eBay UK product research helps you get an idea of the competitiveness of any given product by providing a competition level indicator.
Different seller fees makes it a challenge to estimate expenses and profit margins
When selling a product on eBay, there are different fees that eBay will charge you. Besides Final Value Fees (FVF), there are PayPal fees, Fixed Price Insertion Fees, and many more that will shrink your profit margin. When running an eBay store, like 91% of eBay’s top sellers, there will be additional subscription fees;however, other fees will go down slightly. In order to calculate your total expenses, you still need to consider taxes which further shrink your profit margin.
Algopix’s eBay UK product research tool automates the process of calculating your full expenses related to selling a product on eBay’s marketplace by aggregating all the relevant data and displaying it in a way that is user friendly. You will always have an overview of the full expenses and a detailed breakdown of the different fees and taxes. Additionally, Algopix calculates for you the expected profit margin from selling the product enabling you to make fast, informed business decisions.
Algopix’s eBay UK market research
Imperfect information regarding a product’s demand level and optimal pricing can lead to deadstock and will ultimately cost you money. Deadstock takes up storage space that can’t be used for more successful products in your sales mix.getting rid of these products either means selling them for a loss or trashing them completely. Algopix’s eBay UK market research provides crucial information that will help you understand every aspect relating to sourcing a new product so you can make the best business decision possible. Information about a product’s demand and competition level, a detailed expenses analysis, profit calculation, estimates for the sales volume and gross merchandise volume, and a product recommendation will help you see the bigger picture when researching new products. In addition, Algopix offers these insights for more than 14 different markets worldwide.
eBay offers a global network of marketplaces that should be used to its fullest by more eBay sellers
eBay UK is one of the biggest eBay marketplaces outside the U.S, contributing $1.32 billion (£1 billion) to eBay’s total revenue from international (non-US) marketplaces of $9 billion in 2016. Given eBay UK’s share of almost 15% in international revenue and the fact that around 60% of eBay’s marketplace revenue comes from non-U.S countries, this puts the share of eBay UK at almost 9% of eBay’s total revenue. Ebay’s website writes howeBay is a global eCommerce company which offers businesses opportunities to be successful in different countries and reaches customers in 190 different markets worldwide.
Before committing to a new market, many questions need to be answered surrounding a product’s demand and competition level as well as any related to costs. The answers to the questions are not easy to find but there is a reward to identifying an attractive market and expanding your business operations to it.
Algopix’s diverse market research platform offers you valuable information for any topic that comes up when considering international expansion. Its new Sales Estimator feature gives you insights into last month’s sales volume and gross merchandise volume for a given market allowing you to estimate a market’s demand level. Combined with Algopix’s competition indicator it gives you a clear picture about a product’s demand and supply. Finally, Algopix’s eBay UK seller tool delivers a detailed analysis of any expenses related to selling a product in an international market, like taxes, shipping fees, marketplace fees, and more.
Sourcing many products is a time-consuming task restraining you from achieving the full potential of your eBay store
A diversified sales mix allows you to react to sudden changes in demand level and ensures that you always have a steady cash flow. Sourcing different products means at the same time that you have to research hundreds of products in order to find the most profitable ones. When faced by hundreds of product offers and limited time resources, you can either pick random products or rely on data to find the right products. Algopix can help you in a couple of ways. Algopix’s eBay UK marketplace research delivers easy-to-read results allowing you to interpret the output in a matter of seconds. Additionally, Algopix supports bulk analysis of up to 200 different products at once and still delivers high-quality, detailed information about every single product.
