by Kathy Terrill | Feb 18, 2023 | eBay
eBay’s Winter Seller Update of 2023, as with anything involving change, is greeted with great trepidation.
Relax, dear seller! eBay’s Winter Seller Update 2023 is live, and eBay’s sky is not falling.
Winter 2023 Seller Update, a Mixed Bag!
Like most updates, the Q1 release is a mixed bag of good and not so good news. So, the bad news is that as of February 15, Final Value Fees (FVFs) are going up in numerous categories. Fortunately, the good news far outweighs the relatively minor fee increases. Let’s look at the facts.
Got No Store or a Starter Store?
For non-store subscribes and Starter Store subscribers, FVFs in most categories will increase from 12.9% to 13.25%. This is an increase of .35%.
In some categories — namely Books & Magazines, Movies & TV, and Music (except Vinyl Records) — FVFs will jump from 14.6% to 14.95%. Again, this an increase of .35%). To see the complete list of fee changes by category, go to https://www.ebay.com/sellercenter/resources/seller-updates/2023-winter/financials.
Don’t be caught off guard by these fee increases! If you decide to raise your prices by a dollar amount or percentage so the higher fees don’t cut into your profit margin, you can do so using Bulk Edit.
Fees are Up!
Store subscribers from Basic through Anchor also face an average FVF (Final value fee) increase of .35%. Fees in Books & Magazines, Movies & TV , and Music (except Vinyl Records) will likewise go up from 14.6% to 14.95%. Categories with no changes include Heavy Equipment, Cameras & Photography, Cell Phones, and Computers, Tablets & Networking.
Again, take a close look at the entire list of fee changes by category at https://www.ebay.com/sellercenter/resources/seller-updates/2023-winter/financials.
In addition, keep a sharp eye on your cost of goods and shipping expenses. An FVF increase of .35% may sound small, but it adds up fast.
eBay Seller Fees are up!
eBay’s Winter Seller Update: Good News!
As it is now, eBay only gives you back the 30¢ transaction fee when a buyer asks to cancel an order before the item is shipped. However, eBay is now going to also credit sellers for that 30¢ fee if an item is returned and you voluntarily refund the buyer’s payment. That applies to returns for the following reasons:
- Ordered by mistake
- Don’t like it
- Changed my mind
- Doesn’t fit
- Found a better price
n other words, you’ll get the 30¢ back as long as the return is not due to seller error (INAD). You must refund the buyer through eBay in order to receive this fee credit. Like the FVF increases, this new policy kicks in on February 15.
Like higher FVFs, those 30¢ transaction fees add up faster than you might think, so this is excellent news for sellers.
No More Best Offer UPIs!
Ever accepted a Best Offer only to have the buyer then fail to pay for their purchase? eBay feels your pain. Both eBay sellers and eBay lose money on unpaid items (UPI.)
The eBay powers that be have also heard sellers’ frustration with this ongoing issue, and in this update, they announced the rollout of a long-awaited solution: Buyers will have to supply payment information prior to making a Best Offer. Read up on all the details at https://www.ebay.com/sellercenter/resources/seller-updates/2023-winter/business.
More Changes for the Better: Listing Upgrades and Scheduling!
eBay Seller Good News in the eBay Winter Seller Update 2023!
The Winter 2023 Seller Update also impacts listing upgrades and scheduling for sellers’ benefit. Two especially positive changes expand perks that non-store subscribers have enjoyed for years:
eBay Store subscribers can list auctions and offer a Buy It Now option for no additional fee.
Store subscribers also can schedule the start date of both auction and fixed price listings for free.
This is terrific, especially if you list in batches. You can create a bunch of listings at one time, then strategically spread out their start dates and time.
EIS eBay International Shipping!
eBay continues to roll out its new eBay International Shipping program, demonstrating their commitment to facilitating cross-border trade.
List More, Sell More!
In this post-pandemic world, ecommerce sites are losing buyers to brick-and-mortar stores. eBay’s answer to this problem is to increase inventory on the platform. That’s why they’re working to improve the listing flow, especially via the eBay Mobile app.
Furthermore, eBay also has invested in marketplace research tool Terapeak, making it even more useful.
What Does It All Mean?
The Winter 2023 Seller Update reflects eBay’s emphasis on increasing conversion (sell-through) rates. In other words, it’s geared toward helping sellers sell more and better, thereby making more money for themselves and eBay. So what’s in it for you?
That remains to be seen. Add up your last few invoices. How much did you pay in FVFs last month? Last year? Do you want or need to make any changes at this point in order to absorb the soon-to-be-additional costs? Or would you rather wait to see what future invoices look like?
eBay invests heavily in Google ads that bring us buyers. We also have robust seller protections. It’s a profitable platform on which to sell. So do the math as it applies to your business, then decide how to respond to the changes announced in the Winter 2023 Seller Update, and keep on selling!
by Kathy Terrill | Jan 21, 2023 | Selling on eBay
As an eBay seller, you’re always looking for ways to save on the costs of selling on eBay!
Here are three very simple and easy ways to reduce your eBay selling fees — and for two out of three, you don’t even need to have an eBay store!
First way to save on eBay selling fees is become a Top Rated Seller (eTRS).
There are many benefits to achieving and maintaining Top Rated Seller status, including enhanced visibility in eBay search results and increased seller protections. You can read up on the details in eBay’s Seller Center as well as in eBay’s Help pages.
Best of all, once you’re Top Rated, your listings become eligible for the Top Rated Plus seal.
This coveted seal earns you a 10% discount on Final Value Fees (FVFs). Here’s what it takes to become a Top Rated Seller: An eBay account that’s been active for at least 90 days 100 or more transactions and $1,000 in sales with US buyers during the last 12 months
A defect rate less than or equal to 0.5%, with 3 or less defects from transactions with unique buyers. Cases closed without seller resolution less than or equal to 0.3% and 2 or fewer cases. A late shipment rate less than or equal to 3% and no more than 5 late shipments. Tracking uploaded within your stated handling time and carrier validation for 95% of transactions with US buyers.
It’s really not all that difficult to meet these requirements.
If you follow eBay’s recommended best practices and provide top-notch customer service, than you’re probably already almost there. You can view a detailed breakdown of your seller performance in your Seller Dashboard.
Once you’re eTRS, in order to qualify for the Top Rated Plus seal, you must offer same- or one-day handling. Also you’ll need a 30-day or longer free return period with a money-back option. You can choose to offer these services on a listing-by-listing basis. You don’t have to do so for every listing. However, only listings that include them will get the Top Rated Plus seal and 10% FVF discount.
But wait, there’s more!
Here’s how to maximize your eTR+ savings: Consider free shipping. Why? Because an item’s FVF is based on the item’s price. If you charge for shipping, then the discount doesn’t apply to the shipping charge. But if you offer free shipping — meaning that the shipping cost is rolled into the price of your item — then your eTR+ discount will score you 10% off the whole shebang! Furthermore, eBay’s search algorithm LOVES free shipping.
Remember: You don’t have to offer free shipping and/or free returns on every item you list. But consider at least testing either or both for certain items. I talk more about the considerations involved in my recent video This Lowers Your eBay Selling Fees! Check the video for more useful information on this topic.
Second, join the eBay Partner Network and use EPN links.
The eBay Partner Network (EPN) is eBay’s own affiliate marketing program. Affiliate marketing is a time-tested way to make money online. Again, you don’t need an eBay store. You just have to become a member of EPN. Once you join, share eBay listings using links generated via the EPN Link Generator.
Sharing your own listing can score you a free FVF, while sharing another seller’s listing can earn you a commission. All it takes is for a buyer to purchase the item on eBay within 24 hours of clicking on your EPN link.
This can add up to a significant additional revenue stream.
Learn more about this eBay seller moneymaker in my recent blog post, eBay Seller Moneymaker eBay Partner Network EPN!
Also my YouTube video,” Improve Your eBay Profits Using These Powerful Links!”, offers you more great ideas on using the eBay Affiliate Marketing EPN program.
Then when you’re ready to take the plunge and give EPN a try, invest in a copy of my EPN guide.
Third, open an eBay store with a Basic or higher level subscription.
Without an eBay store, you get 250 free listings per month, after which you pay a nonrefundable insertion fee of 30¢ per listing. But when you have an eBay store, you also get access to a robust suite of free marketing and promotional tools, including Promotions Manager and a store newsletter, plus a storefront that enables you to brand and promote your business.
And that’s just for starters, literally: that is, when you sign up for a Starter store.
However, with a Basic or higher level store subscription, you also get more free listings, lower insertion fees, lower FVFs, and a quarterly coupon for eBay-branded shipping supplies. For a Basic store owner, that means 1000 free listings, 25¢ insertion fees, and a $25 coupon as well as lower FVFs — up to 50% lower in some categories!
In addition, insertion fees for auction-style listings that end in a sale will be credited back to your account.
With so much value added along with the savings you’ll realize, there’s practically no reason not to have an eBay store.
Get all of the details and fee comparisons on eBay’s Store Selling Fees Help page. Also go to Store Subscriptions & Benefits in eBay’s Seller Center and do the math.
So there you have it: three ways to lower your eBay selling fees.
Lower selling fees = higher profit margins = more money for you. Put these tips to work for you in your business on eBay, and those cha-chings will sound sweeter than ever!
by Kathy Terrill | Dec 25, 2022 | eCommerce Tips
In a world where bad weather strikes somewhere every day, your business on eBay needs to be prepared to ride out any storms that may come your way.
It pays to plan ahead. Here are five tips for battening down the hatches. Read on for your eBay seller’s bad weather preparedness checklist!
Your first action for your eBay seller’s extreme weather preparedness is to use Time Away.
Put your business on Time Away, and set up an autoresponder message as well. You can opt to allow sales for up to 15 days or shut down your store altogether, putting purchasing on pause for up to 30 days. If you’re facing uncertain times, you don’t need the stress of having to ship sold items.
Time Away is available to all eBay sellers, whether or not you have a store.
It’s also included in the eBay Mobile app. If you have an eBay store, go to Time Away under the Store tab on your Seller Hub Overview Page. Or you can go to My Messages and click “Change settings” in the upper right-hand corner. Either way, you’ll end up at Time Away. here’s what eBay says about this tool.
It’s better to overestimate how much Time Away you’ll need. You can always end it early. It may take a few hours for your Fixed Price listings to be hidden when Time Away starts and to reappear when it ends. I’ve used Time Away with great success. HERE is my video reporting my results and sharing some bonus tips.
Note that Time Away does not adjust delivery dates for accepted Best Offers, Second Chance Offers, accepted seller-initiated offers, athletic shoes eligible for eBay’s Authenticity Guarantee, or items with local pickup or GSP set as shipping options. You’ll need to change the handling time and/or shipping option for those listings.
Next, protect your inventory.
How is it stored? Cardboard boxes don’t provide much protection at the best of times. Consider upgrading to plastic bins ASAP, before disaster strikes. Get your items up off the floor, too, preferably onto sturdy metal shelves. Raise the bottom shelf if you’re worried about flooding.
Step three is back up your data to the cloud.
That way you can access it from wherever you happen to be, and nothing will be lost. You might also want to give your most essential passwords to a trusted family member, employee, or friend so that they can check customer messages for you if you’re unable to do so.
Step four is visit the ATM so you have ample cash on hand.
Make sure you’ve refilled any prescriptions for necessary medications. Fill up the gas tank of your vehicle (or vehicles). Charge up your devices along with whatever you have in the way of power bars or other portable chargers. If the electricity goes out in your area, your smartphone will become an essential lifeline.
Be ready when bad weather strikes eBay seller with this 5 point check list!
And finally, stay safe!
Your personal safety — and your family’s safety — are more important than any sale. The Red Cross has an abundance of emergency tips for different weather situations that can be helpful. Keep up with news bulletins (including eBay announcements, if possible), follow the authorities’ recommendations, execute your business preparedness plan, and focus on safety first.
Once the weather changes for the better, you can reopen your store, welcome shoppers, and get back to business as usual.
by Kathy Terrill | Nov 20, 2022 | eCommerce Tips, Selling on eBay
It’s that time of year again, eBay seller: Shoppers are searching for the perfect gift to put under the holiday tree for their special someone.
Now it’s up to you to make it more likely that YOUR item is the one they find — and choose to buy. But how? The answer are these eBay seller best Holiday moneymaking tips!
For starters on the topic of eBay seller best Holiday moneymaking tips, remember: It can’t sell if it isn’t listed.
Look through your unlisted inventory. Is there anything holiday themed? Or in holiday colors (i.e., red and green, blue and silver or white, etc.)? If so, then list it NOW!
Furthermore, consider adding that newly listed item to a Promoted Listings Standard campaign.
According to eBay, a listing in Promoted Listing Standard Campaign is twice as likely to sell. You can set your PL standard fee as low as 2%, and you only pay if the item sells. You can even boost the price a bit to cover the PL standard fee.
The option to promote a listing in a Promoted Listing Standard Campaign — and specify your desired percentage — is in the final section of the SYI (Sell Your Item) form. Also you can create a Promoted Listing Standard campaign and add items in bulk from the Promotions tab of your Seller Hub Overview page.
Speaking of price, it’s a good idea to include enough wiggle room that you can add Best Offer to your listing.
Best Offer is another good way to increase the likelihood that your item will sell, and sell quickly! You can still make a profit and also get the benefit of quick turnover.
Next, scan the titles of your active listings. eBay gives you 80 characters altogether. You should be using 75-80 of them. If any of your titles fall short, revise them to add more keywords. Not sure what keywords to add? Do a search on eBay for similar items, then filter by Sold to see what keywords have worked for other sellers.
Another eBay seller best Holiday tip is to check Terapeak.
It’s under the Research tab on the Overview page in Seller Hub. Put a couple of keywords describing your item into the text field, then search to find comparable sold items.
Be sure to follow other best practices for eBay titles as well: Front-load the most important keywords, because eBay’s mobile app truncates titles, and don’t forget “the noun” (what the item is). Think “Keyword Keyword Keyword”, in title case — never ALL CAPS.
There’s no need for punctuation; titles don’t have to read like a sentence.
And for goodness’ sake, don’t waste characters on nonsense like L@@K, Wow, special characters, or emojis!
Pro tip: If you include the word Christmas in your title, be aware that Cassini (eBay’s search engine) considers Christmas and Xmas to be the same keyword. Using Xmas frees up five characters, and your listing will still pop up when shoppers search for Christmas.
eBay Seller Best Holiday Moneymaking Tips!
An eBay seller best Holiday tip is find fresh inventory!
Be sure to shop holiday clearance events both locally and online. Don’t overlook pop-up stores, church bazaars, and flea markets. Then list your newly acquired inventory ASAP. Again, consider promoting those new listings and/or adding Best Offer.
In addition, if you have multiple quantities of an item, consider adding a Volume Discount to encourage multi-quantity purchases: Save x% on 2, y% on 3, z% on 4 or more. (You set the percentage of the discount.)
Both Volume Discount and Promoted Listings can be added to your listing from the very last module of the SYI (Sell Your Item) form on your desktop or mobile device.
These proven, actionable strategies will literally pay off for you right now in your business on eBay.
Your free 12 Days of Christmas eBay Money Making Tips!
Want even more ways to optimize your Q4 sales — and maximize your Q4 profits? Download your complimentary copy of The eBay Seller’s 12 Days of Christmas Holiday Moneymaking Tips!
Be sure to include things in your plans tat make the Holiday season meaningful to you. Is that a Christmas service, neighborhood caroling or volunteering at a local no kill shelter or food bank?
Here’s to you having a fruitful and meaningful Holidays!
by Kathy Terrill | Oct 21, 2022 | eCommerce Tips, Selling on eBay
A very important eBay seller super power is consistency. As actor/filmmaker Denzel Washington has famously said, “Goals on the road to achievement cannot be achieved without discipline and consistency.” The same is true of eBay selling. You’ve got to be both disciplined and consistent your business. Let’s talk about three crucial areas for eBay sellers to be consistent in.
#1- Your eBay seller super power, list, list list!
First and foremost, in using your eBay sell super power of consistency, you want to list regularly. eBay emphasizes over and over again the importance of doing so. Keep those new listings coming! It will enhance your items’ ranking in search results and help to drive traffic and sales.
One eBay tool that makes it easier to list every day is Draft listings. Always keep some listings in Draft, ready to be finished and go live. Draft listings can be created via your phone or computer, and they are available to all sellers. I speak about this in my video, Get Consistent eBay Sales This Way!
Get consistent eBay sales this way!
In fact, many sellers find it convenient to take photos via their smartphone camera and upload them directly to eBay.
Then they fill in a few of the blanks on the SYI (Sell Your Item) form, save the listing as a draft and finish it later on their desktop or laptop computer.
If you have a few partially completed listings stashed away in Drafts, you can list anytime you have a few spare moments. This enables you to list pretty much every day, which is ideal. Use my free guide. eBay Listings That Sell, to craft winning eBay listings
I hear sellers brag about posting a dozen listings in one day, but then they may not list anything else for a week — or even longer. You’re better off listing even just one or two items as long as you do so on a daily basis. Cassini (eBay’s search engine) likes fresh content and rewards sellers who create it by ranking their offerings higher in search results. So discipline yourself to be consistent about listing.
#2- Send offers to buyers!
The second aspect of selling on eBay wherein it literally pays to be consistent is sending offers to buyers. For this, you’ll need to keep an eye on Seller Hub via your desktop or laptop computer. The information you need is not shown by eBay’s mobile app.
Check your Seller Hub Overview page several times throughout the day so as to be able to send out offers ASAP. Look in the Tasks module for “Listings eligible to send offers”. Just click on the number of items. From there you’ll be taken to an Active Listings page filtered by listings for which you can send offers.
Don’t be stingy about your discounts if you want to make sales! When you send out an offer, you’re basically creating incentive for the buyer to make the purchase. Maybe it’s in their cart, or they put it on their Watch list.
Either way, it tells eBay that this shopper is interested.
Now it’s up to you to close the sale. A mere 5% or 10% off may not be enough to seal the deal, unless the item is priced very low. Try offering 15%-25% off. You can even offer more, especially if the listing is stale and/or the item is not generating much interest.
Furthermore, unless you are just too totally slammed to respond to offers manually, allow counteroffers. If you don’t, you’ve shut down any chance of a sale. Counteroffers give your buyer the chance to respond. This allows you to negotiate with them.
By the same token, if you set up your listings to automatically decline offers under X amount of dollars, you may be turning away business. That’s never a good thing!
So check your Seller Hub Overview page several times a day.
It will enable you to greet newly interested buyers with your special offer within 24 hours. Additionally, be sure to include an enticing message with your offer. You can say, “Thank you for your interest. I hope you’ll please take advantage of this exclusive limited time offer: X% off!”
#3- Know your numbers!
Be consistently aware of the financial metrics you’ll need to report for tax purposes: i.e., what you pay for inventory, shipping expenses, and eBay fees. Many times, sellers struggle to pull together these costs at the last minute. You also need to be aware of your gross income versus your net profit from your eBay sales.
My Reseller Genie (my affiliate link) can help. It’s the seller-created solution for eBay accounting and analytics. If you formerly used GoDaddy Online Bookkeeping, you’ll LOVE My Reseller Genie. It offers comparable accounting and analytics capabilities, then goes beyond them to do even more. MRG (as it’s known for short) will crunch your numbers for you so that you can concentrate on sourcing, selling, and shipping — and it can do so for multiple platforms.
To have proper accounting the team at My Reseller Genie advises checking and importing your numbers at least once a week.
Daily is best and does not need to be overly time consuming. It can take only a few minutes to double check your numbers, expenses and categories. Being consistent on checking your numbers saves you hours and hours at tax time. Try My Reseller Genie with my affiliate link, and use code KATHY15 to save 15% on your first month.
The eBay Seller Super Power of Consistency!
So there you have it:
- List consistently.
- Keep sending out offers to buyers.
- Do the math (or better yet, let My Reseller Genie do it for you).
See? Successfully selling on eBay really is as easy as 1 -2 – 3…as long as you’re disciplined and consistent.
The good news is that both of those traits get easier with practice. Think of it as your eBay workout
