eBay has crunched its data, and is seeing a surge in new business registrations this month. While January has historically been the most popular month to start a business, the eBay for Business team are seeing a 30% bump in business registrations as aspiring entrepreneurs increasingly seek to diversify their income or become their own boss.
eBay also revealed that 75,000 businesses have started up via its mobile app alone in the UK over the past three years, indicating small businesses owners are getting evermore tech savvy.
The top 10 most successful new businesses that registered on eBay UK last year are now turning over nearly a combined £6 million through their eBay stores. This is an average of £600,000 per online business in its first year.
Petrol heads power an army of new businesses
The new car market in the UK dipped in 2018, potentially partially fueled by a legion of startups in the eBay Car Parts and Accessories industry, as drivers sought to repair their older models rather than buying a new vehicle.
Over a third (35%) of the top 20 new sellers on eBay over the past three years operate in the Cars and Car Accessories category, where buyers can purchase niche parts for specific car models. Home and Garden and Physical Media (such as vinyl) are the other most popular categories for most successful new firms.
Car parts also dominate the top 10 most popular products sold by new eBay businesses
2 Wall Decals & Stickers
3 Headlight Assemblies
4 Wing Mirrors & Accessories
5 Doors & Door Parts
7 Seat Covers & Cushions
8 DVDs & Blu-rays
9 Window Motors, Winders & Parts
10 Wings & Quarter Panels
Peak time for starting a new business
The peak time of the day for launching on eBay for Business is between 12-4pm, as aspiring entrepreneurs resolve to escape the office humdrum for the independence of running a business during lunch. Many have found success in making the switch.
“2017 was a fantastic year for our sellers, many of whom saw export growth, with countries like Australia, the US and France the lead destinations for UK goods on eBay. 2018 looks set to be even better with start-ups launching in droves this January – providing even more choice for savvy shoppers looking to find a unique product online. We are optimistic about the future for online retail, which is increasingly a story of changing customer demands and the nimble businesses that are able to adapt at pace.”
– Rob Hattrell, VP of eBay UK