There are almost 1,300 new 2019 eBay Millionaires, the most since 2009. The number has soared by 18% in the past 12 months to their highest in almost a decade and in total over 8,500 eBay millionaires have achieved the milestone since 2009.
eBay millionaires are defined as businesses trading on eBay UK with revenues of £1 million or more generated through the online marketplace. The analysis also reveals that when it comes to the fastest growing communities of eBay millionaires, it’s sellers under 30 and entrepreneurs in Coventry who take the crown.
The most successful age group of 2019 eBay Millionaires, nearly 20%, are ‘digital natives’ under thirty, with an eye for Britain’s changing shopping habits. However, the over 60s are the second fastest growing age-range (13%), demonstrating the value of new ideas and business experience respectively.
A proud supporter of British business, eBay has also revealed that the top three UK ‘eBay millionaire capitals’ are London, Manchester and Birmingham, with a total of 170 new 2019 eBay Millionaires.
However, you should send yourself to Coventry if you want to be part of the fastest growing community of seller millionaires. Traditionally known as the motor manufacturing capital of the UK, the city’s huge 41% increase in the number of new millionaires by far outweighs growth in traditional business centres including Birmingham (27%) and Manchester (25%).
The new figures follow research conducted by the company earlier this year, which found that optimism among the UK’s small business owners outweighed pessimism by a margin of two to one.
“The uplift in the number of eBay millionaires demonstrates how entrepreneurs up and down the country are keeping up with the ever-changing needs of consumers, despite some tough economic conditions.
We are passionate about offering entrepreneurs a shop window to 180 million consumers worldwide. Whether they’re starting their first business as a hobby while juggling studies or launching a second career as empty nesters, our sellers are making the most of our opportunities and making millions thanks to their spirit and ambition. There are 200,000 UK small businesses at the heart of eBay and we want to celebrate seller stars through this year’s eBay for Business Awards. We can’t wait to shine the spotlight on and toast to their successes.”
– Rob Hattrell, UK Vice President, eBay
When it came to Brits’ most lucrative products, home, furniture and DIY sellers had the highest number of new business millionaires in the last 12 months. This echoes findings in eBay’s latest Retail Report, which found that cash-strapped millennials are splurging on soft furnishings and homewares in order to make their rental properties feel more like home.
The growth in the number of eBay millionaires has been released to coincide with the launch of the 2019 eBay for Business Awards, The awards are eBay’s annual nationwide competition to find and celebrate the most successful and inspiring seller stars from its community of 200,000 British small businesses. Sellers who enter the eBay for Business Awards 2019 could win up to £5,000, a VIP trip to the USA and dedicated eBay business support.