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Friday, March 8, 2019

Making Cash With Apps & The Internet

Looking for some ways to make some extra cash? Here's a post by a reader with a bunch of different suggestions of platforms where you can sell your items over the internet.

Pretty often we use apps and the internet just to buy things. Pop-up offers with 10% drag us into making a commitment we weren’t sure that we wanted. Or that sneaky email that follows up and lets you know the items are still in your basket, 24 hours after the items have disappeared from your thoughts.

Clever.

But the flip side of that is that it has probably never been easier to sell your own stuff either. Apparently, we all have around 4 thousand (whatever your local currency is) of things in our homes that we just don’t use. Not to mention those of us with the skill to make, create and design. If you’re in the market to buy a car rather than sell, then consider visiting Car-Buying-Strategies.com for the best tips.

According to some of those big online retailers, people spent around $453 billion online in 2017, and that is meant to rise year on year. In fact that $453 billion was a 16% rise from the year before. Interested in reports then here you go - Amazon Report / eBay Report.

Mobile apps have been a key player in the massive increase in the speed at which people shop and the amount they spend. Websites being hooked up to the one-touch PayPal or Apple pay, make transactions quick. Maybe a little too quickly for the consumer, but not for the companies they are buying from. Impulse purchases at 3 am are more prevalent than ever.


Which is good news for you, actually, if you are going to start selling things online.

It makes sense for you to look at the rough capabilities of the websites and what it is going to cost you to sell things. After all, selling on any of the platforms is going to see them skim the cream off the top.

Let’s get into it, shall we?


DePop

This is an app only service, and you’ll find an odd mix of things on here. From vintage Levi’s to strange double soled trainers. You will see that if you have a couple of band tees and a leather jacket you can sell them pretty well on here.

You open an account, pop on a few pictures and then wait. The key to selling here is being really in-depth about the features of the item, making it pop up in searches. Great because it is easy to use, limited in that you can only sling 4 photos up and it is app online.

Vinted

Aside from the almost cool name, this is has a site which is pretty easy to use. The seller doesn't pay a fee here. Instead, the charges are passed on to the buyer. This fee is sold as ‘buyers protection’ and is either 3 or 8%.

Great because it has a range of payment options, and it has an app so you can check on your items quickly. Not for everyone because you will need a PayPal account to sell on the app. And, you can only sell second-hand clothing.

eBay

The behemoth of online selling - some say. The mobile app is one of the best around, and it has a lot of functionality. From communicating with potential buyers, accepting offers, uploading photos, and works well for selling locally.

You should work out what your item is worth in advance of putting it on there. Fees can be high, and for higher priced items pretty steep. In terms of costs, you’ll be looking at a final value fee, possible PayPal fees, closing fee, and listing fee. When it is all added up, it can be painful.

That said, the company is so big, and it has millions of users who are ready to buy - you’ll be hard pushed not to sell your stuff.




Newegg

This one is more for those who love to buy and sell techy items. They claim to have around 30 millions customers so they can show off your products to plenty of people. Spanning over 50 countries is pretty good going. People who head to Newegg are likely putting together custom PC rigs.

It’s easy to create well put together product listings, and you are only going to be showing your products to people who want them, being as the focus is solely on technology.

The downside, if you can call it one, is that this is only really for select categories. If you have a range of goods, you might not be wanting to manage multiple selling platforms.

Facebook Marketplace

Would a list of selling sites be complete without Facebook Marketplace anymore? This is really great for selling more locally. You can easily set the distance in which you are willing to travel, and the results are populated pretty quick. As well as having the ability to set alerts too. With 2.27 billion users, that is a lot of eyes on your products. The app and the website both make this an excellent option for more significant items that would cost a lot to ship and suffer a serious hit on the total profit like on eBay.

Biggest perk? It’s free and super easy. Biggest drawback? Well, because of the number of users, the listings can move really quickly. So you might miss out unless you keep updating your listing.

Amazon Marketplace

Amazon has a massive draw for sellers because that have so many users per month. Somewhere in the region of 180 million. The mobile app is just about perfect, and used loads. Amazon claims that sellers that decide to use Amazon Marketplace will see a 50% increase in sales - which is pretty significant.

The drawbacks are because of the number of sellers there will be a lot of competition in prices. And it’s global, not local.

The big perk for people who are selling a lot is that if you purchase the Amazon Professional, you will have your fees capped at $39.99 per month, rather than the 99c per item. That and they can take care of shipping and customer service for you too. Which is pretty decent.

Instagram

The platform where people share pictures of Bali, Buddha Bowls and bronze tanned influencers. Is also a valuable selling/ shopping app now. You can post your photo, add links and multiple images.

While you will get decent traffic if you pay for the advert, it might not all be ‘qualified buyers’. Unless you are pretty good with your analytics, and set the advert up on Facebook and push through to Instagram.

It is worth remembering that the main reason people use Instagram isn’t really shopping. But, if you were ever going to go viral for something you are selling it might be here.

Zazzle

If you are into designing things and aren’t looking to get rid of your old sofa, then you might like to check out Zazzle. It’s a great online marketplace that lets you upload your designs on to a bunch of pre-made items.

Pros? It’s easy to use, you don’t have to buy and print yourself but if you aren’t careful your shop might just end an oversaturated product mess.

Etsy

The handmade treasure trove. Filled with everything from wordpress themes and instagram templates, to hand carved photo frames. This is much more for the crafty types, who can make something spectacular with their hands in someway.

The perks? Direct deposit payments. The downside? The horrifically high 3.5% transaction fee. Oh, and if you happen to go out of stock of an item, it won’t suggest something else from your store, but from its own inventory - sneaky and a sale loss.

How To Choose Your Marketplace

It will come down to a couple of things really. Do you need to sell asap? In which case things like Amazon and Instagram aren’t for you. They’re more for people with a bulk amount of products to market and time to do it.

For a quick sale, Facebook Marketplace and eBay would be top contenders for being quick and easy, and Facebook would probably come out top with zero selling fees.

Try not to be drawn in by the initial lower fees. There is pretty much nothing worse than taking time to set up your shop, load the products only to find at the end of it, you’re going to make about 60% of what you had been hoping for.

Also, think about how you want to be paid and manage those payments. You aren’t obligated to only using a bank account, so you can explore things like Stripe, PayPal, and WorldPay (once again be mindful of the fees).

Making money using apps and the internet is just about as accessible as it’s ever going to get. From selling your old jeans, to design a line of pug covered cushions there is somewhere for you to do it, that no longer required you to stand in the rain at 6 am at a carboot. Which is nice.

See my disclaimer.

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