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It is viable to sell a £100 product and make £10 even with free shipping as long as you are selling enough of them.
You also need to be in control of your business overheads and take into account the actual cost of selling a product (as you said staff, advertising, marketing etc.)
The problem has been that the likes of ebuyer, watford etc. have all been trying to be the cheapest for many years and have been trying to undercut each other and gain market share, with no thought of the consequences of not actually covering the cost of running their businesses and making a profit.
If you look at eBuyer there prices are nowhere near as competetive as they used to be. Without a doubt they have realised that selling so cheap that they cannot make a profit is a pointless exercise.
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