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eBay - from zero to millionaire

Whatever the case, Pierre Omidyar had a head for business from the start. The first item he sold was... a broken laser pointer! The kind that was used in the bygone days when corporate presentations were projected from an overhead projector and the laser was used as a mouse. He found it in the garden. He wanted to test the newly developed internet sales system, so he said he would try to sell something of little value.

To his surprise, he unleashed a real bidding war. Offered for 1$, the laser was sold for 14,83$. The lucky buyer turned out to be... a collector of broken laser pointers! That's called being lucky in life....

This luck has not left Omidyar to this day. You can buy almost anything on eBay (which is not prohibited by law to sell ;)). From the very beginning, the platform has relied on the credibility and trust of its users. Annually, eBay boasts 183 million active users and a daily search volume of a bagatelle 50 million. The most expensive item auctioned was a 123m luxury yacht with a cinema room, helipad and all amenities worth 170 million $.

So what, ready for a zero to millionaire story? Meet eBay!

How do I start selling on eBay?

Along with setting up an account on the platform, you should think about PayPal. This is the most popular and convenient form of payment on eBay. It allows you to easily settle receipts, fees, process refunds and make payments from almost anywhere in the world.

The simplest is behind us. Now it is time to make choices. The next step is to choose the right form of sale: basic or advanced.

Basic form of sale

The basic form is, of course, easier. You are listed on the service as a Polish shop that sells to foreign markets. The ease lies in the fact that you only operate one service and your offers are automatically visible abroad.

There are, of course, downsides - due to the lack of adaptability to specific markets, the basic form is simply less profitable, especially for large businesses. Users see the description of your products in one language, the price from PLN is accurately converted into foreign currencies. Buyers can also (but don't have to) filter out your listings as international in the search engine. In terms of payment, to start with, you get a pool of listings, the listing of which is free of charge and the platform only takes a commission on sales.

Advanced form of sales

It involves customising offers dedicated to specific foreign markets. The advanced form requires more commitment, but also has more possibilities.

You can adapt your product descriptions for the relevant market, both linguistically and culturally. Your offers will thus be more visible, and you will gain customer confidence more quickly. Prices are set by you and are not automatically calculated as in the basic version. Free offers are not limited in the case of Large and Megastores.

Market analysis is fundamental

Now you can get to grips with your strategy with confidence. How do you prepare for the launch? The best thing to do is to analyse well the markets you intend to sell to, especially if it's your first time. Remember, the competition is huge. There are currently marketplaces on eBay in countries besides Poland:

- Australia
- Austria
- Belgium
- France
- Spain
- Netherlands
- Ireland
- Canada
- Germany
- United States
- Switzerland
- United Kingdom
- Italy

Listings on the general eBay.com platform, on the other hand, are visible in as many as 200 countries.

When starting to sell in any of these markets, you need to know it well beforehand. This ranges from regulations to the preferences of potential customers. It is useful to know, for example, what items cannot be sold in a particular country. The eBay list is constantly updated and not so obvious. It's good to stay up to date to avoid potential legal problems. However, when it comes to the consumer choices of given nationalities, here too eBay extends a helping hand. The platform itself encourages you to analyse the search engines in specific countries. By entering a category (e.g. "children's") into the search box, the most frequently searched products will appear in a list of suggestions, in order of most frequently entered. This method is also useful for price analysis.

In addition, eBay gives its users access to up-to-date data and analysis. In the 'seller zone', the most frequently sold products in a country can be found, along with tips on how to name them so that customers can easily search for them.

A professional audit can work wonders

If ready to take off? Fantastic!

Just remember that there are very quite a few like you. The demand for e-commerce has skyrocketed during the pandemic and its growth still isn't slowing down. If you want your business to get off to the best possible start and your brand to quickly become recognisable in the market, it's worth consulting a company that will look at the whole plan with the eye of an experienced professional, advise and guide you through the most difficult moments.

An audit will also be useful for those who are already in the market, but want to push the benefits. A team of specialists will analyse every element of your business, discuss alternatives and introduce you to the ins and outs of e-commerce.

We know how difficult it is to get caught up in the news of online sales, which is why CommerceBay's specialists can do it for you. We'll tell you how to make your position in the market the best it can be!