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Online Retail

The growing "Buy now, pay later" market

POS SOFTWARE

A year ago here I spoke of the growing market of the "Buy now, pay later" market of which the two big players are Afterpay and Zip.  Well a year later, it is clear that the growth of these payment methods has increased.

Trend_buy_now_pay_later

Afterpay has replaced in google trend Paypal.

Afterpay tripled last year, while zip doubled which is pretty impressive. Now about 10% of Australia has used their services. Part of the appeal is that many that cannot get a credit card can get these cards. Here is a comparison from the retailer's point of view

 

Those of my clients that are using it report that a zip customer is a good customer, on an average they spend about $150 a transaction.


If you want to know more let me know.

 

 

 


 

 

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HOW TO PRICE FOR EBAY

Ebay Tools

 

Rather than discount the old worthless products completely just to get rid of it, try to sell it on eBay. We do it too, for example, with aged scanners and computers that are brand new but no longer sellable also for products that we do not want to handle any more. So I am pretty experienced with eBay.

 

If you are thinking of doing it, here are some tips to get your selling price.

 

You have to know your costs exactly, shipping, packaging, transaction fees, etc. once you have done that you can set a floor price.

eBay I have noticed is not always about the lowest price. Some other points like having days for them to get the products, local pickup, freight charges, free extras and just in general how you look to the client plays a part.

Currently, check who are the main sellers for the product. You should just by looking at eBay see how hot the product is and see what price most people are selling the product. Furthermore, check what is the lowest price, I would say try to set your price at what most people look like they are selling it for now. However, if you cannot match it all is not lost as in my experience, and you have about 20% prices range on eBay. So if say the price is about $10, you can still be in the market at $12, if however, your floor price was $13, I would say you are not competitive now and you either need to drop your price, wait another two weeks and check again because prices change all the time on eBay or forget eBay for that product.

 

One strategy that works well, is to try to make your product unique, which makes it harder for a person looking to compare pricing. The disadvantage is that people are very wary of products without looking at them, and if you are unique, it makes it hard for them to check whether it works for them, so they move on.

 

Moreover, eBay is not just about price; a few bad reviews will kill you as a seller. If you get too many bad reviews, close your account and make a new account. Try not to close too many accounts as big sellers get more business because they have trust. The more you sell the more people trust you.

 

We do offer a complete eBay integration in our point of sale software.

I hope this all helps and let me know how it goes for you.

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WEBSITE NAME

choosIng website name

The very first step in going online is making a name and the problem is that with more and more Australian businesses going online, it can be hard to find a suitable name. When setting up a website for a client, I have noticed that getting the right name takes a lot of time.

If you want some ideas, then write down your company name and your main products, then look up a thesaurus and try to get a few more ideas.

Now if you see yourself as a local business, I would suggest that you consider adding the main suburbs near you because that is what people will search on, e.g. if I am looking for a chemist in Blackland, I might search "Blackland chemist". Try to avoid street names if you can they do not help online. If there is a prominent site nearby you may be able to connect to that item. While if you see yourself as a national business, then you will be looking to connect your domain name to your major product and/or service.

The idea is that you are trying to make a name that people will find in a search. So it is worth doing some research as a good name will increase your credibility and improve your rankings in Google.

Then here is a website that can help you look for ideas.

https://hostingfacts.com/15-best-domain-name-generators/

 

Put your ideas in and try to find a name you like. Now write down say the top ten ideas and talk it over with a few people.

If you see yourself as a local business, I would suggest that you consider adding the suburb to your name because that is what people will search on, e.g. if I am looking for a chemist in Blackland, I might search "Blackland chemist". Try to avoid street names if you can they do not help online. If there is a prominent site nearby you may be able to connect to that item.

While if you see yourself as a national business, then you will be looking to connect your domain name to your major product and/or service.

The idea is that you are trying to make a name that people will find in a search. So it is worth doing some research as a good name will increase your credibility and improve your rankings in Google.

Now get a list of possibilities and now see whether you can get it. The site I use to get it is

https://ventraip.com.au/domain-names/register/

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