eBay is the biggest shop in the world and things change with dizzying frequency: it’s hard to keep up. But it’s important to raise your head above the parapet. You probably know your own corner of the Marketplace very well but a broader knowledge of what’s going on will help you take advantage of the eBay opportunity.
If you’re a professional eBay seller you’re staking a lot on a global business that you have no control over. So keeping tabs on what’s going in San Jose makes sense. At the very least, keeping an eye on the Annual Report and Quarterly Reports, that can be found in the Investor section of eBay.com, is time well spent.
Site Changes and News
The eBay UK Announcement Board is a must read, but do look at eBay.com too and other national sites. Much of the information is the same but you might get advanced warning of a change heading our way. Tamebay is, of course, a great source of information and there are lots of other handy blogs out there. Make it easier to keep up by using a reader, such as the Google Reader.
What’s everyone buying? What’s selling like hotcakes? How does your conversion rate look against the category average? The Marketplace Research Tool will tell you all this. You probably keep a close eye on what’s going on around you anyway, but with hard numbers you can back up your hunches.
Carry on Spying
If you aren’t buying from your key competitors (incognito of course!) then you’re missing a trick. Are they doing anything better than you? See what they’re doing and do it better. You don’t just compete on price, after all.