Now that we’re well into January 2015, I have been busy de-cluttering – not just my personal stuff but also my eBay inventory. I’ve also been working on my eBay “numbers”, getting them ready for the tax-lady. So, I thought this would be a good time to reflect on my 2014 business and how well it did – or did not do – compared with the previous year.
I started selling jeans in 2013 and they became my main product. The SA was a great source to get inventory because, twice a week, they sold their jeans for $2. A couple times a month, I would load up, usually buying between 40-80 pairs per trip.
It was a lot of work; but with the help of DH and DS#1, we sold over 700 pairs of jeans. All this time and effort definitely paid off because my revenue for 2013 was 30% above that of 2012. But we were burned out; and we had to take a break from selling jeans.
When 2014 rolled around, I knew I had to look for new ways and other sources of product to increase my profits. That’s when I discovered the GW outlet stores. I found some great stuff at the outlet, but it didn’t sell as quickly as the jeans, which would “fly out the door”.
When I decided to get back into selling jeans, I discovered that the SA thrift had a new regional manager and they no longer sold their jeans for $2. That was a real bummer since I really needed to increase my profits.
And then, there was that whole Cassini thing on eBay and sales were taking a major dive. Not good! That’s about the time I started looking at selling on Amazon.
Of course, by the end of 2014, our financial situation had improved and I no longer needed to depend on my online sales. By December, my online business came to a screeching halt as I took a break from all this nonsense.
So, what was the bottom line? My 2014 revenue was about $6,000 less than 2013 – or about 22% less and over 500 fewer items. This would have been unfortunate had our financial situation not changed. In the end, everything worked out just fine.
Here is a breakdown of my 2014 sales:
Number of sales: 1,025
- eBay – 976
- Amazon – 30
- Bonanza – 12
- Craigslist – 7
By category (top 4):
- Jeans – 246
- Toys_Games – 194
- Miscellaneous – 173
- Sewing Patterns – 109
By revenue (top 12 highest to lowest):
- Sewing Patterns
- Sewing Machines
I was surprised to see that jeans continued to be my top selling item; but it was no surprise that jeans were not the big revenue-producers. Their average price was just over $18 with a net profit margin of just 44%.
Another surprise was that toys and games were my highest revenue producers, with an average sales price of $25.88 and an average net profit margin of 50%.
The sewing patterns were part of my personal collection that I have been selling off. With some exceptions, they’re not big sellers, with an average price of $10 FS. Just glad to see them all gone.
2015 is definitely going to be a different ball game when it comes to my online business.
I mentioned earlier that I was clearing out my old 2014 inventory so I’ve been listing many items at auction for 99-cents. At this point, I’m more interested in seeing items go out the door; and what doesn’t sell will be donated to the thrift store.
I’m taking another break from online selling, so I’ve put my store on vacation, again, through the end of the month. I’d like to convert my “eBay room” back into my sewing/crafting room so I – we – have been busy reorganizing and painting instead of listing! I’ve also been spending a lot of time on Pinterest looking at ideas. I think I’m obsessed LOL!
Wishing everyone a great 2015!