New eBay retailers are often overwhelmed with all the choices they have to make–what to sell, what to charge, how to list an item. Thankfully, there are numerous tools available to answer those questions. eBay sold the data on every sale they’ve ever made to various companies. They’ve in turn, created tools to interpret that data and spot trends and patterns in it. According to Anthony Sukow, CEO of market research giant http://Terapeak.com, “Having access to eBay data empowers you with respect to the market.

“What Can Market Research Tell Me?

You never want to sell a product without researching it first–it’s like taking a test without studying. Only instead of getting a bad grade, you lose the time and money you invested. There are some things you need to know that you’ll only learn by researching:*

Is there a market for this product, and can I compete in it?

Most market research tools let you see how many of an item sold recently and how long they were listed before selling. Look at the supply and demand. If there is too much supply or not enough demand, consider finding other products to sell.

Is this the best time to sell this product?

Some products are seasonal and these are fairly intuitive. But sometimes market data reveals surprising trends: black iPods may be outselling white ones by more than double. Or a celebrity may have gotten some PR that sent the value of their merchandise soarin

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Originally posted by Ty Tribble on September 2, 2006 in Ideas.

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