In the fast-paced world of eBay dropshipping, finding the right products to sell can be challenging. However, with a tool like eBay Terapeak, eBay dropshippers can uncover valuable insights and gain a competitive edge. eBay Terapeak is an all-in-one research platform that provides sellers with valuable market data, sales trends, pricing, and competitive analysis.
By utilizing eBay Terapeak for our dropshipping business, we can find profitable products with low competition and start selling them immediately. It also gives us all the necessary data for us to make informed decisions about our dropshipping business.
With that said, in this article, we will learn about eBay’s Terapeak, what it is and how to use it. Consequently, we will learn how it can help us scale our business.
To start, we need to learn what eBay Terapeak is and how it can help us grow our business. In essence, Terapeak is an exclusive eBay tool that provides eBay analytics. The core purpose of Terapeak is to provide supply, demand, and pricing data to help online sellers determine what to sell, when to sell it, and at what price.
One of Terapeak’s key traits is enabling access to real-world sales data for millions of products and their variations. Plus, it provides extensive product research that helps us find our best-sellers. To elaborate, Terapeak does research on markets, competition, trends, categories, and products, all to find profitable products on eBay.
What’s more, this eBay tool helps us optimize our selling strategy. Actually, it provides high-performing keywords and selling times so that we can maximize our sales. Additionally, it also analyzes product supply and demand over time. So, we can use this data to determine what and when to sell. All in all, with eBay terapeak, we can scale our business with ease by listing profitable and in-demand products.
Now, in order for us to grow our business and find our eBay best-sellers, we need to look into the key insights of eBay Terapeak. Notably, eBay Terapeak has 9 key insights that paint a full picture of any product we want to source.
In fact, by analyzing these key insights, we can make an informed decision when sourcing products. And as a result, we can build a killer product catalog. Thus, it’s imperative that we understand the utility and importance of eBay Terapeak’s insights.
With that said, let’s dive deeper into the 9 key insights that will help us build a winning product catalog and boost sales:
To begin, Terapeak’s sourcing insights enables access to real-world sales data for every eBay category. As a result, we can develop our sourcing strategy and identify areas of opportunity.
Moreover, with sourcing insights, we can offer product listings that are based on ‘sold’ single stock listings. To clarify, this helps us discover what is in or out of stock to ensure our listings are optimized.
Additionally, with the sourcing insights we can attain metrics of categories that have high demand and low inventory. For example, we can see the search volume, click-through rate over one year, top listings and more. Consequently, we can take advantage of a high-demand category by filling the inventory gap.
Next, we can get data about the number of listings and items sold. So, by having insight into the number of listings for a specific product, we can get a sense of how dense the competition is. And, by knowing the number of items sold we can understand the profitability of a product. Thus, we can ensure we are building a product catalog that is profitable while maintaining a competitive strategy.
Furthermore, the average sales prices allow us to understand how much the average price for a product is. Plus, it gives us insight into how much customers are willing to pay for the given product. Thus, it makes it easier for us to set an optimal price that will attract customers and help us remain competitive.Â
Undoubtedly, the sell-through rate is one of the most important metrics we need to look at. It gives us data into how much of a given product has been sold compared to the amount of inventory. As such, we can understand if and how much a product is worth selling. Ultimately, this enables us to build a profit-making product catalog.
Next, Terapeak gives us insight into average shipping costs. As a matter of fact, with this information, we can comprehend how much the total order price for a product may be (price + shipping). Thus, we can make our best efforts to source products that have a competitive total order value. This will ensure that our customers won’t go to our competitor for a product that we also offer due to a difference in shipping costs.
Seller and buyer locations let us know where a seller or a customer for a specific product is located. What’s most important for us from this insight is the buyer location. As such, the buyer location allows us to set optimal target audiences.
Notably, sales trends give us insight into historical revenue and sales results in order for us to detect a pattern. Furthermore, we can use this information to understand how a product performs through time and when the best/worst time to sell it is. So, if a given product performs well during a specific time of year, we can list that product then and maximize our profits.
As the name suggests, unsold inventory shows us what inventory is not sold. As such, this gives us insight into what is selling and what isn’t. Essentially, it’s a good indicator of what not to sell because it’s not in demand.Â
Lastly, we can explore the listing formats of other sellers with eBay’s Terapeak. With that, we can see how successful sellers have built their listings and learn from them. Consequently, we can apply any successful listing formats to our own listings and attract more customers. Plus, it will help us stay head-to-head with our competitors.Â
Uniquely, Terapeak allows us to get a better understanding of what will work best for our eBay dropshipping store. As such, we can get great insight when researching market trends and products. So, by having access to detailed data, we can build a successful eBay dropshipping business that caters to demand.
Plus, the more we analyze important data and test out products, the better our listings will be. As a result, we can enjoy higher profits and grow our eBay business.
Now, let’s see how to take full advantage of Terapeak properly. By following these steps, we can ensure we are getting the best product/niche research results:
To start off; we need to do a simple search on the Terapeak Product Research page. In this section, we can use different modes of searching like keywords, universal product codes, ISBN, etc.
However, more often than not, we will use the keyword search option. Undeniably, the keyword search option is the easiest way to discover insights about products. On top of that, using keywords as a search method gives us more control and customizability in our search efforts. Thus, we can search for virtually any product idea we have.
Unquestionably, adding filters to our search efforts will narrow down the results. Additionally, it helps us pinpoint exactly what we’re looking for. Plus, it helps us find profitable, in-demand, and competitive products.
First, we can start off by filtering a time range. The time range shows us the search result for a specific period in time that can go back up to a year.
In addition, we can also filter our search by the marketplace. For example, we can filter out eBay.com, eBay.co.uk, and so on. This allows us to search for products in specific marketplaces on eBay across the globe.
In tandem, to further narrow down our search, we can filter buyer and seller locations. This gives us an idea of where the customers for a specific product usually are. Or, we can see where the sellers are located. As such, we can understand which geographical market to target and where the nearest seller is.
Then, we can take a look at one of the most important filters, the price range. To explain, this filters out products based on how much we want to source the product for and what our desired profit margin is.
Also, depending on the product, we can filter based on condition. Basically, we can filter out products that are new or have been used. However, we should only sell brand-new items when dropshipping to avoid issues like refunds, product defects, etc.
Lastly, we can filter our search results based on a product’s sale format. This means that we can search for products sold at an auction, best offer format, or at a fixed price. Ultimately, this can help us find better prices for the products we are interested in sourcing.Â
Last but not least, we need to analyze our results to come to an informed decision about our researched products. Typically, Terapeak provides us with two sets of results. Most often, those sets are items sold in a specific time frame and active listings.
With that in mind, there are various metrics that we can analyze. First, we can take a look at the average sold price. This gives us a mean sold price for single listings in our result set, excluding shipping costs. Notably, this metric is best taken in the context of product research rather than category research.
Then, we need to analyze the average price range, which is the lowest and highest sale price in the result set. Again, this metric is best looked at in the context of products instead of categories.
After that, we’ll dive into the average shipping metric. With this, we can see how much our customers usually spend on shipping. Obviously, we need to exclude any listings that have free shipping. However, knowing the percentage of items with free shipping indicates whether or not we need to provide free shipping to remain competitive.
As a result, we can search for products with shipping costs roughly the same as the average shipping. This way, we can ensure that our customers shop with us instead of jumping to our competitor’s store due to shipping charges.
Now, the total sold and sell-through rate metrics go in tandem and help us gauge how much competition we have. Plus, they can also help us indicate the demand for a product. The total sold metric gives us the total number of matching products sold. And the sell-through rate shows us the percentage of similar items that sold.
To demonstrate, let’s say the sell-through rate is 10 percent and the total sold is 100. With this, we can estimate that there were about 1,000 similar products listed.
Interestingly, the sell-through rate also indicates product velocity. Consequently, this helps us understand whether or not we should list an item. Â
In addition, we can also look at market share. For example, if only 10% of sellers hold almost 80% of the market share for selling ‘shoes’, then this leaves us with 21%. As such, we have 21% of the market share to penetrate and earn sales. To conclude, we can understand that this may not be the best product/niche to sell on eBay because the competition is high.Â
The best way to estimate our competition is to look at the total sellers metric. To explain, this metric tells us how many eBay sellers listed similar items for the given time period. On the other hand, the total sales metric can give us an idea of the market size for a specific product or category on eBay. In fact, total sales show us the revenue from all of the items sold.
And that’s that! Now we know how to use Terapeak to grow our eBay store properly. And, by knowing how to leverage the software, its tools, and metrics, we can start scaling.
Finally, we know how to take full advantage of eBay Terapeak to search for best-sellers and winning products. But, when dropshipping, we need to continuously optimize our business processes. For this, we can utilize various tools to help us. For example, by automating our dropshipping processes we can scale and have an efficient workflow. As such, we can multiply our profits while the automation software does the work for us.
So, our best bet is to utilize the AutoDS dropshipping automation software in tandem with eBay’s Terapeak for best results. But, don’t just take our word for it:Â
In fact, we can do thorough product research and get product ideas with Terapeak. Then, we can use the AutoDS product research tool and product importing tools to find and import our winning products in a single click. Isn’t that a stellar combo?
However, it doesn’t stop there. With great products and an automation tool, we can easily grow our eBay store. With that said, let’s take a look at some AutoDS tools that will automate and optimize our eBay store:
…and much more!Â
In April 2021, eBay made Terapeak Product Research available for free to all Seller Hub sellers.Â
We can access Terapeak on eBay directly from the Seller Hub Research tab. To gain access to this research tool, head over to the “Research” tab in your eBay Seller Hub and click on where it says “Terapeak Product Research.”
Terapeak uses recent eBay supply, demand, and pricing data to help you determine what to sell, when to sell it, and at what price.
At last! We’ve done it! We learned what eBay Terapeak is and how to use it. So, we’re ready to fill our eBay dropshipping store with the most profitable products.
As such, we’ll have a well-rounded understanding of the dropshipping world we are getting into. As a matter of fact, we’ll know more about the market we are tapping into, the competition, and the sellability of products.
With that in mind, to further expand our knowledge so that we can scale our business, check out these articles:
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