Are You Only Selling on eBay?
You may have heard about people selling on multiple platforms such as eBay, Amazon, Etsy, Poshmark, and craigslist. Why do people sell on multiple platforms? What are some of the benefits in doing so?
First of all, let me say that I do believe you should sell on multiple platforms. And here are five reasons why.
#1: Different Items Sell Better on Different Platforms
Customers tend to flock to certain platforms to buy particular items. The demand for a type of item becomes higher on a specific platform. Then it’s up to you to sell your item on the platform that attracts the most customers for it.
Let’s say you are an eBay seller, and your main focus is on electronics. Or it could be antiques. Or rare coins. Or a multitude of other categories. But every now and then when you are sourcing your inventory, you come across a rare and profitable textbook. And because you are an eBay seller, you put it on eBay.
But here is the problem. Books do better, in general, on Amazon. It’s just the way it works.
Maybe you’ve inherited a closet of vintage clothing from your great aunt. As an eBay seller, should you put it up on eBay? Well, in this case Etsy is really the better option. For more modern clothing, Poshmark might be your go-to.
#2: You Reduce Your Risk
When you’re selling on eBay, Amazon, Etsy, or any of these venues, you’re selling on a third- party platform, which means you don’t have control. If a particular platform wants to kick you off—for something bogus or something you did accidentally—then you can be kicked off. You cannot sell on that platform anymore. I’ve seen it happen.
But by building up stores on various platforms, you reduce your risk of being put out of business completely if something goes wrong.
Say, for example, you get suspended on Amazon. If you are on multiple platforms, you can still have some positive cashflow to get you through the tough times as you fix your account. You have reduced your risk of putting yourself out of business completely.
#3: Every Platform Has Its Peaks and Valleys
As I have sold on various platforms, I’ve noticed that there are cycles. They are hard to predict, but every platform has its ups and downs, its peaks and valleys, its times when things are just flying out of the shop and times when you are left wondering if sales will ever pick up.
By selling on multiple platforms, you minimize the negative impact of any particular slow cycle of a specific platform. You have a better chance of keeping a more consistent flow of revenue in your business.
#4: You Get To Experiment
I’m a big fan of experimentation and trying new things. And there is more to life than just making a pile of money. If you can’t stand just packing boxes and shipping orders to Amazon—well, that does not have to be your whole life. If you want something more, something different, maybe something more personal, eBay or Etsy or Poshmark might be a better option for you because you are dealing one on one with the customer.
You also get to experiment to find out what your geographical area has to offer in terms of items to sell. Maybe where you live it’s easy to find outdoor equipment. Or you discover a lot of rare books. If you sell on multiple platforms, you can experiment with different markets as the opportunities arise.
#5: You Can Make More Money
I know I just said that making a pile of money isn’t everything, but you have to admit that it is a thing.
There are two schools of thought. One says that you should master one thing and go all in. The second recommends having multiple streams of income. I have always been the multiple streams type of guy. I like to experiment, and I want to reduce my risk. I want to play the whole field, and I don’t want to get burned out on one thing. And above all, I want a consistent stream of income no matter what particular platform is outperforming or under performing at the moment.
Don’t Be Afraid to Branch Out
So I hope these reasons will give you the motivation to check out various platforms. Don’t stick with just one. You are sure to find that branching out gives you a more fulfilling experience in selling and makes you more money on a regular basis.
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