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| priceitwholesale (7776) Priceitwholesale |
September 2003 |
The entrepreneurial spirit thrives on eBay, and no one better exemplifies that than camera and electronics dealer Joe Edery and Priceitwholesale, which has become one of the site's top overall sellers at a lightning pace.
With 30 years of experience in the retail and wholesale camera business (including operating 520 Camera, a retail showroom in Manhattan), the allure of the Internet was strong for Edery and company. Happily, his foray into e-commerce has been an overwhelmingly positive one.
"Immediately, as we put up product on eBay, we found a tremendous response with a very high conversion ratio of about 70 to 80 percent," Edery recalls. "We also found that we were realizing 4 to 5 percent more in gross profit margins than in what we sell in wholesale."
That was only the beginning. Each subsequent month, Priceitwholesale experienced strong, steady growth, eventually expanding its product line to include consumer electronics. Going into the second quarter of 2002, the company made an even bigger move.
"eBay became our main focus," Edery explains. "We partnered with some direct manufacturers. We told them what we were doing. We wanted to put out a clear message-that eBay is the place where we trade. There's no other source. This is going to be our focus."
Priceitwholesale now averages 1,000 to 1,200 listings a day-a number that will continue to climb, promises Edery. "On the turn of a dime I can constantly add new products," he says. "It's just a matter of how much we can handle. It really is limitless."
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