Terapeak provides eBay market data and research services to buyers and sellers, and with the ecommerce industry abuzz about fashion these days, AuctionBytes sat down with Denise Hogue, Product Manager at Terapeak, to learn how online sellers might take advantage of eBay's push into the fashion space.
AuctionBytes: What can you tell us about how shoppers search for clothing, shoes and accessories (CSA) on eBay?
Denise Hogue: Brand names rule - it seems that the majority of searches in the category start with BRAND, and people are searching for high-end goods! Coach, Chanel, Burberry, Bebe, Anthropologie and Gucci are at the top of the list when it comes to what shoppers are looking for!
It also looks like the most popular thing to search for this season is handbags, then women's shoes.
AuctionBytes: eBay offers a wide variety of options - vintage clothing, used ("consignment") clothing, and brand new clothing. Do you see any differences in how shoppers search depending on what type of items they want?
Denise Hogue: In the Vintage Categories, shoppers are looking for specific items, or genres of clothing, and brands don't feature as much as they do in the broader CSA category. Chanel still maintains position within the top five search keywords, but other searches are more item specific - dress, girdle, sunglasses. We also see a lot of searches for genre like hip hop, Hawaiian, Victorian and couture.
AuctionBytes: Can you give us an example of how an item (or category) might perform differently in the auction format versus fixed-price format?
Denise Hogue: A search of the last 30 days for tshirt shows nearly $5 million of sales. Auction items represented about one third of the items sold, but the average price for auction is $3.92 less than fixed-price listings. That said, the percentage of tshirts that sell is higher in an Auction listing.
AuctionBytes: Can you provide an example of a fashion trend you're seeing on eBay?
Denise Hogue: Men's Handkerchiefs are trending up right now. Over the past 2 years this category has seen a slow and steady increase in total sales, from $1.2k/ week August 2009 to $2.8/k a week.
AuctionBytes: Terapeak has a "Hot Searches" feature - how does that help sellers researching product demand? (And how much does it cost to use?)
Denise Hogue: That's what I've used in our first examples - it's a great lead to see what shoppers are trying to buy. For example, if I'm selling women's vintage shoes and see that the top searches are 6.5, sandals and ankle boots, I might check through my available stock. Conversely, if I'm not sure what to sell, I can surf through some of the CSA categories and get ideas about what people are shopping for, and source from there!
The Hot Searches feature is an add-on to the Terapeak Advantage subscription, and starts at $4.95/month. As you can imagine, a single transaction often well pays for the price of access!
AuctionBytes: Is fashion on eBay cyclical, and how can sellers take advantage of seasonal trends?
Denise Hogue: Depending on how you "eBay," fashion can be seasonal or not. One of the great things about eBay is that you can run an international business - sell swim suits to the U.S. in your summer months and then spend the winter selling swimsuits in Australia! Smart fashion sellers watch trends in Europe using our international research, and prepare for the trends to migrate to the U.S. market.
If you're keeping it more local, there are the big sales times for CSA, and they are the same in brick and mortar. Back to School, Christmas, and major holidays feature just as large in ecommerce retail.
AuctionBytes: Do you have any tips on how clothing sellers can get exposure in eBay's search engine?
Denise Hogue: Any seller can make Best Match work for them. For those in CSA, it's important to look at your keywords, particularly if you're dealing in brand names, and how you list your items. Your listing titles are really important, and Best Match evaluates the descriptions and keywords.
Shipping is another important piece in the Best Match algorithm, so sellers are advised to do a bit of research around comparative items and make sure that they are charging appropriate shipping fees.
eBay also recommends the use of great photos - I imagine this is especially important in the CSA categories, as details are important!
AuctionBytes: Where can sellers learn more about Tereapeak's research tools?
Denise Hogue: Visit our website - we have videos and testimonials, and a free tool that searches 14 days of data available on this page.