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Selling Products Online  

 

 

 

 

 

 

Improve Cash Flow by Selling Products Online


If you are struggling to pay off debts or stay afloat with your mortgage, it's a good time to think about improving your cash flow situation. Finding a higher paying job may not be in the cards, and if you are already scrimping and saving it's difficult to find additional areas to cut corners. Yet if you're like many Australians you probably have old clothes, books, and electronics lying about the house that you seldom use. These could potentially be turned into cash by selling them online. The recent ad campaign from Quicksales highlights this fact, with its emphasis on making cash. However, does selling old housewares online really work?


Online Marketplaces Are a Growing Trend


Many consumers have used eBay or Amazon's marketplace at least once, either to find the best deal on a product or to find something unique that wasn't available on the high street. According to a Nielsen survey from 2006, 1.3 individuals worldwide had used the site as a source of primary or secondary income. That number has only gone up since then, which can be seen in the number of websites that have attempted to improve on eBay's basic model or target a local market. The Australian ads for Quicksales.com.au are one example of this, as is the popularity of sites like Etsy.com and Craigslist. There has been a boom in online marketplace websites, with many larger retailers like Amazon and ASOS now offering separate marketplaces for consumers to buy and sell products.


Tips for Improving Online Sales


To maximise your online profits, you'll want to go into the selling process with reasonable expectations. Although you most likely won't become rich from selling your old clothing online, you could potentially start a business that grows over time. It's important to set the right price. A price that's too high or too low could deter buyers, so you'll want to do a little research to see what similar items are selling for. It's also helpful to set a competitive shipping price, which many sellers set too high. When you're ready to place your listing, be sure to take high quality photographs of your product and write a useful description that answers any questions the buyer might have. If you receive any queries from potential buyers, follow up with these as quickly as possible to provide excellent customer service.


Using Online Sales as a Future Investment Tool


If you have experienced initial success selling your old household items online and want to continue selling, the next step is to transfer this potential into a real business model. You'll need to source new products to sell and start building a customer base. Having already sold, you should have positive feedback from buyers which helps give you credibility. It may be worth starting an ecommerce store or blog to establish your own web space in addition to profiles on marketplace websites.


The beauty of selling products or services online is that you can put as much or as little effort into it as you wish. No matter what your financial goals are, this can be a viable source of additional income to help balance your household budget.