In the last 5 posts, I shared my personal story of selling on ebay and talked about all the basics including trading time for money, getting started. I also covered topics regarding Goal setting, making plans and how to work effectively and efficiently. Thank you for your patience and please understand all the basics are very critical and they are the foundation of your building. Without strong foundation, no income stream can last for too long.
Starting from this post I will talk about market research. I know many of you have the same question to ask me, “what kind of product can I sell on ebay to make money?” The bad news, which is actually also a good news, is I can’t tell you with a simple answer. The reasons are the following:
1. If I just simply tell you a product that is proved by me can earn you a good income stream from ebay, the chance is you are not the only reading my blog, so it will end up with too much competition and the product will not be good anymore.
2. I rather share with you the way I did it, because I believe many of you have way more better ideas than mine and you just need some little hint to become next Bill Gates or Mark Zuckerberg.
3. “Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime” – that’s why I create value and share here rather than simply giving you some cash.
Before you dive into the time-consuming market research, you will need to spend some time to locate your target market. Do not assume your product will be a good fit for everyone, that’s not reasonable, so be specific!
I want to give you some directions to start with and please think very hard and find your market niche to create your own kingdom.
Statistics is showing that 80% of online shoppers are ladies and the major age group is between 16 to 60 years old, so this tells us to focus on this particular group. Ask yourself ( if you are a lady) and your female friends, what kind of products ladies prefer to shop on ebay.
Down to the fundamental of economy, the gap between demand and supply creates business opportunities, so to find your niche products, come up with the keywords and research on google and see if the competition is overheated.
The best tool you can use from google is Adwords and I will suggest you to learn how to use it. On my blog, as my focus is to sell on ebay, I will explain the particular tools just for ebay researches.
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