How can I increase the profitability of my online retail business?

Hey folks... I have a small business selling second-hand vinyl records (mainly dance music) on eBay and now on another site called Discogs. I have been going for 3-4 months now and April was my best month, but I am still not making enough to live on. Sales are quite slow and eBay fees and postal costs are biting. Competition is fierce and the whole process is very arduous and time-consuming. I notice big sellers are charging higher prices for the same items but I feel I have to keep prices competitive to make sales... Anbody got any thoughts? Discount for the best answer! Thanks.

6 months ago - 2 answers