eBay has revealed that the number of self-made eBay Millionaires selling on the marketplace has grown by over 300. Now, for the first time in its 22-year history in the UK, there are over one thousand eBay millionaire businesses in the UK.
An eBay Millionaire is defined as a British registered business on eBay UK with an annual turnover of £1 million or more.
The growth in the number of eBay Millionaires has exceeded 50%. In 2013 there were just 443 eBay Millionaires and this grew to over 600 by July 2017 so the number of businesses reaching this milestone is not only growing but accelerating on an exponential curve. eBay added almost as many eBay Millionaires this year as they had in total five years ago!
We shouldn’t think of eBay Millionaires as simply turning over £1 Million a year, there are many of those thousand businesses who are turning over multiple millions on eBay.
“eBay has been through an incredible journey in the UK over the past 22 years. 23 million Brits continue to visit us every week, and it’s no surprise that the nimble small businesses which understand and cater to the ever-changing tastes of British shoppers are flourishing. We provide Brits with the opportunity to make a living out of their passion – and our entrepreneurs are becoming more successful than ever, with a significant increase in the number of millionaires on the platform over the past twelve months.”
– Rob Hattrell, eBay UK VP
Top 5 new eBay Millionaire Product Categories
It’s interesting to see where the new eBay Millionaires are finding success, so here are the top five categories that the new eBay Millionaires are coming from:
How big is eBay UK?
In the UK and Ireland, over 24 million people visit eBay every month – that’s over a third as many unique visitors as walk down London’s Oxford Street.
The UK population is about 66.6 million of which about 47.6 million are adults. It would be a nice round number to say that 50% of adults visit eBay on a monthly basis and although the number is probably close to that, we have no way of estimating how many children who aren’t eligible for an account are included in the visitor numbers.
Worldwide, eBay attract 171 million visitors so with 24 million visiting eBay UK around 14% of the eBay world’s customers are concentrated in the relatively small British Isles.