The wholesale industry is like most others in that is uses specific jargon, abbreviations and lingo. When you write or speak with wholesale suppliers and you don't know the lingo, they will know you are an amateur.
I got an email from a reader who had just attended her first trade show. She told me she had heard all kinds of terms and initials at the show. She was looking at some nice beaded jewelry and asked the lady working in the booth what they sold for. The answer went something like this:
"They go for $50 in 12 in case lots. Our MOO is only $200 and we will give you free shipping if I can get a PO today?
She looked around for the cow and then at the lady with raised eyebrows and said: "Moooo?"
As you will see below, MOO is actually a common wholesale term.
So here are some of the more common terms and abbreviations you will encounter when buying wholesale: (not in any special order).
PO Purchase Order
MOO Minimum Opening Order
Keystone The ability to double your cost as the selling price
FOB Cost before shipping from a stated location. Example: FOB Atlanta, means you pay the shipping from Atlanta to your destination.
MSRP Minimum suggested retail price
MAP Minimum Advertised Price
CC, Net 30 OA We take credit cards or you can get 30 days credit on approval
PoA Point of Origin (where something is made)
USL Upsell Line - means this is a good product to upsell. Example: if you sell barbeque sets, then barbeque tools would be a good USL
SST/EIN You need a state sales tax number and a federal EIN number to do business with this vendor.
There are many more terms but these are some of the most common. The other issue is paperwork. If you would like to learn more about buying wholesale, take a look at The Wholesale Buying System where I explain all about the wholesale industry, how it works, how to negotiate with wholesalers, how to get into trade shows and wholesale merchandise marts, the paper work and terms and much, much more including access to my wholesale member's site.
Hundreds of top online merchants will soon gather in Chicago for the semi-annual Professional eBay Sellers Alliance (PeSA) Summit. This is a must-attend, educational event (happening April 24 – 26) where you´ll get important information that will help you extend your reach on the eBay marketplace.
Use the special Invitation Code below to save $50 on registration.
Want to speak with us face-to-face? Our very own Jen Cano and Danny Brand will be there, ready and willing to help you with your eBay market research questions. Also, Jen Cano will participate in an Online Market World class on improving customer lifetime value. Plan to attend her class to get some unique perspectives on customer behavior patterns on Wed., April 25, from 1:45—3:30 pm.
Don´t miss this information-packed event! We´re looking forward to meeting you!
It’s been nearly two months since Apple CEO Steve Jobs announced that “Apple is going to reinvent the phone,
and already eBay sales are bringing in more profits than Apple itself.
Although the phones are not scheduled to be
available until June of this year, iPhone sales on eBay have totaled more than $18,000 within the past month, according to research
conducted by HammerTap.
What’s selling? Buzz. $18,000 worth of buzz.
“People are so excited about new and innovative product releases like the iPhone that sellers find any way they can to make
a profit off that excitement, says Jen Cano, spokesperson for HammerTap. “And according to the research, anything iPhone related
sells for an average of $35.
Ranging from domain names and e-mail addresses to T-shirts and pictures, sellers are making an
auction out of anything they can get their hands on. For example, the domain name “www.iphoneforcheap.com had 11 bids and sold for $41.
“Whatever is selling now is just a glimpse of what is to come, says Cano. “Some sellers will make a lot of money on iPhone
accessories after the phone is released.
Currently, Apple iPods and iPod accessories are some of the hottest selling products on
eBay, selling for an average of $138 and $13.35 respectively. More information on the iPhone can be found at
www.apple.com/iphone.
11 January 2007
Vote for HammerTap!
Competition is a beautiful thing--it's what makes America great. It pushes us to create better and better products and services.
It stimulates innovation. And it drives continual improvement. AuctionBytes has declared an eBay Matchup between HammerTap and TeraPeak. As with all
competitions, in the end, a winner must be declared. In the spirit of good-natured competition, we ask you to
cast your vote for HammerTap.
We appreciate your help and support!
07 November 2006
HammerTap Partners with Infopia
Today we announce our partnership with Infopia, out of Salt Lake City. Infopia is the industry leader in multi-channel online selling solutions
for multiple markets, including eBay.
Infopia's latest version of of Marketplace Manager, a complete online selling solution, introduces
PowerWeb, powered by HammerTap. PowerWeb is the newest release for HammerTap. PowerWeb is a web-based, simplified version of the HammerTap3 PowerDesk
edition. PowerWeb now seamlessly integrates Infopia’s Marketplace Manager with HammerTap research, enabling sellers to research across markets
and power-up their sales.
Ralf VonSosen, vice president of marketing at Infopia said that “Intelligent merchandising is a cornerstone
to successful online selling. By incorporating HammerTap’s leading technology with our online selling platform, we provide our customers
with a unique edge – they have both the marketplace visibility and analysis with HammerTap as well as execution capability with Infopia.
HammerTap's Jen Cano said, “Online sellers want the direction market research provides, as well as a simpler way to do business.
Infopia’s integrated PowerWeb research provides both.
Have you heard about the Grow My Profits study that we are doing with Worldwide Brands?
Jen Cano, eBay Certified Consultant and HammerTap Education Specialist, has teamed up with Tish Rogers, Product Sourcing Expert
from WWB, have teamed up to conduct an in-depth study on the value of market research combined with product sourcing.
They selected three individuals to participate, and have been helping them use HammerTap research to build their inventory,
thus, building their profits.
You can learn from their experiences by visiting the
Grow My Profits study website.
Study participants receive one-on-one coaching from Jen and Tish, and keep track of their progress in a weekly journal which is posted on the website.
The latest version, version 3.0.1031, is now available. While this version corrects a few minor bugs, it greatly increases the
search speed of larger auction quantities of 20,000 or more.
Use this updater link to enable your current version of
HammerTap3 to accept automatic updates.
If you are updating from DeepAnalysis2, you will need to install
HammerTap3 using this link. Once installation is complete,
use the link above to enable HammerTap3 to accept automatic updates for your computer.
05 October 2006
T.M.X. Elmo Crazes Thousands of eBayers
After only a week of sales, the doll hasn’t been the only thing extreme.
Since Mattel's Fisher Price released the new and improved T.M.X. Elmo last Tuesday, more than 20,000 have been resold on eBay.
HammerTap conducted research to find the total resale revenues had totaled more than $1.6 million, averaging $84 per Elmo.
“It’s rare that people pay almost double the shelf price for a product on eBay, says Greg Cole, president of HammerTap. “But
that’s what makes it so great. The buyers are happy because they got a “sold-out item, and the sellers are happy because they made
a re-sale profit.
The day after Elmo appeared on the shelves, more than 15,000 were listed on eBay. And now that the shelves are barren in most brick-and-mortar
retail stores – and the next shipment isn’t scheduled for mid-October – eBay may be the only place to purchase the laughable
kid’s toy.
“I saw two adult men start arguing over the last Elmo doll at Target, said Jim Nye, an eBay PowerSeller who was looking to buy some
dolls to resell online. “It’s a great way to make a few extra bucks.
A few extra bucks is right, with the top ten sellers of T.M.X. Elmo selling more than 50 dolls and making a profit of $30 to $50 per doll.
Some sellers have even sold bundles of 10 Tickle Me Elmo dolls for $1,000, making a $400 cost turn into a $600 profit virtually overnight.
While the craze still rages, many eBay sellers will follow the same suit as long as the shelves remain empty. But even when the truck arrives
in October, you can be sure to find many eBay sellers to be the first in line to buy their next cash “doll.
05 October 2006
HammerTap3 Officially Releases
Up to 6 Months of Data, Streamlined User Interface, Seller-Specific Research After three months of beta
testing, HammerTapTM , a Utah-based online business intelligence company today announces the official release of HammerTap3. The new release has been
upgraded with even more powerful market research capabilities, including six months of data analysis, seller-specific research and a streamlined,
beginner-friendly interface.
“We extend a special thanks to all those who participated in our beta testing, says Greg Cole, president of HammerTap. “The finalized
version and upgrades in HammerTap3 give eBay sellers even more power to profit with optimized listings and a fuller grasp of their opportunities on the
market. HammerTap has been the leading provider of eBay market research since 2002, providing sellers with a solid research foundation which enables
them to become more powerful sellers on eBay.
6 Months of Data HammerTap3 now offers an unprecedented six months of data. When users complete lower category-level searches, they can view results for listings
that closed in the last 90 days; plus, they can view a 90-day period of data beginning one year ago. For example, this month, sellers can run reports from
March 2006 to the present day, as well as from June 2005 through September 2005.
The increased date ranges give details of market movement over the last three months, as well as an added forecast of what the movement of the market
is likely to be over the coming three months.
User Interface One consistent customer request was a streamlined user interface,
simple enough for the beginner, while maintaining HammerTap’s reputation for deep data.
“Customers want the best of both worlds, and our
job is to deliver. This is their product for their businesses, says Brian Clark, HammerTap CTO. “The solution was to provide clear answers to fundamental
listing questions on a single screen, and then to allow more advanced sellers the freedom to drill deeper for a more complete analysis.
Seller-Specific Research HammerTap waited to unveil this popular feature at eBay Live! With seller-specific research,
users can develop competitive profiles for specific sellers. The research includes answers about specific sellers’ listings, such as: • most
effective title words • most popular brands and styles • optimal ending days, times, and durations • best starting prices
and categories • Year AgoTM trends
HammerTap3 is available for downloading at www.hammertap.com.
16 May 2006
HammerTap announces the future release of HammerTap3
OREM, Utah – HammerTap, LLC, is in the final stages of releasing the beta version of HammerTap3, continue its tradition of
providing online auction sellers with the most powerful auction-market data available. This will be the first product release for HammerTap as its own company.
“Although HammerTap has become its own company, it will continue with our tradition of exceptional education, support and quality software, said Greg
Cole, president of HammerTap. “The upcoming release of HammerTap3 brings together the most comprehensive auction data, the top industry experts and the
latest technology to give sellers the information they need to be successful with their eBay businesses.
HammerTap3: Utilizing eBay licensed data, HammerTap3 will offer customers some exciting key features, including seller-specific data, shipping data and a
new user interface. With seller-specific data, HammerTap customers will be able to track competitors to increase sales and profits. New shipping data
will allow customers to list the best shipping price to close more auctions. The new user interface is designed to help researchers find the data they need
with graphical charts and reports.
11 January 2006
Breaking News: HammerTap's Latest Release is Live Year-AgoTM Data Provides a Glimpse into Selling Trends for the Coming Month
Late this evening the latest version for HammerTap was released following rigorous testing for speed and accuracy of results.
We're excited to announce the newest feature to be created for HammerTap, only available with version 2.18: Year-Ago Data.
“Year-Ago
data is designed to help eBay sellers pinpoint buyer habits more effectively than ever before, says Brian Clark, Chief Technical Officer at
HammerTap. “This new trending method is part of our mission to give sellers the information they need, not only to compete, but to grow their
businesses.
A New Concept in Auction Market Trending
Until now, auction research tools have only allowed
researchers to study recent months in order to discover auction buying and selling trends. Year-Ago data introduces a new concept in trending—a 30-day
snapshot of the coming month, one year ago. Instead of studying recent months, now sellers can look at market trends for eleven months ago in order to plan for
the coming month.
For example, in June, just as the Summer season begins, sporting goods sellers can look back at fluctuations in supply and demand
during July of the year before*. Sellers can use this information to determine which products to sell and how to optimize their auctions to increase their
profits.
With this newest feature, HammerTap begins closing the gap from the farthest end towards meeting our goal to share a complete year of data
at your fingertips. We're eager to hear how Year-Ago Data works for you and encourage feedback on our newest feature or any suggestions you'd care to share
regarding HammerTap software. Please share your comments in the blog or email to support@hammertap.com - We'd love to hear from you!
