A surprising eBay stat has emerged courtesy of CEO, Jamie Iannone – 40% of everything sold on eBay is now made up of either pre-loved and refurbished items!
This is a massive number and is based not on the number of items sold, but on GMV – if we accept that pre-loved or refurbished are generally sold at a lower price point that new, by number of items it will be an even larger percentage.
eBay is committed to championing the circular economy and helping people shop more sustainably. In fact, pre-loved and refurbished items now make up 40% of the GMV on our platform.
– Jamie Iannone, CEO, eBay
For brands and retailers selling new, it’s also worth considering that auto Parts & Accessories on eBay are huge. Amazon, their main rival for decades hasn’t really made inroads into Parts & Accessories and the last stat I got wind of was that this category was growing at over 10% per year on eBay.
The net impact of Pre-loved or refurbished plus Parts & Accessories is that over 50% of eBay’s sales aren’t available to be contested for by brands and retailers selling new product. It’s a huge number and these three categories are the focus of eBay for the future and will only continue to grow. Plus there are the more traditional antiques and collectibles sold on eBay further lowering the pot of sales for new product sales.
Brand strategies will have to continue to evolve on eBay. It’s certainly not time to suggest pulling all your listings for new product, but if you don’t have a strategy for selling distressed, pre-loved or refurbished stock on eBay then you’re missing a trick.
Brand strategies for pre-loved and refurbished on eBay
We’ll be focusing a panel session at the ChannelX conference on the 9th of October, to help retailers discover how to unlock pre-loved and refurbished revenue streams. You can learn from from two industry experts plus two eBay category managers so get your free ticket here.
James Rigg, CEO, TROJAN ELECTRONICS
As the CEO of Trojan Electronics, James is at the forefront of driving transformative circular solutions within the electrical manufacturing and retail sector. Boasting over 15 years of experience, including a notable leadership role in steering growth across the Buy It Direct Group, he is deeply committed to advancing Trojan’s mission of reducing e-waste for retailers and manufacturers.
Mark Monte-Colombo, Head of Refurbished & Home Improvement, EBAY
An experienced senior professional with a passion for eCommerce, with over 15 years’ experience in retail, marketing, commercial and operations within fast moving and dynamic environments. Proven track record of delivering strong revenue and profit growth across general merchandise. A natural passion for customers, indulging in customer insight in order to understand and identify their needs and trends to drive businesses forward.
Matt Hanrahan, Co-Founder, RESKINNED
Matt Hanrahan, Co-Founder of Reskinned, is passionate about creating a more sustainable clothing world. He’s been involved in consumer marketing and innovative technology development for more than twenty
years. From his wealth of in-depth knowledge of innovative tech. Reskinned offers brands and their customers better ways to continue the lifecycle of their garments, an strives to develop smarter, more effective circular textile systems.
Jemma Tadd, Head of Fashion, EBAY
Jemma Tadd joined eBay UK as senior business development manager in June 2018 and was promoted to head of fashion in November 2022. She has previously held roles at The Hut Group and Zalando. Under Jemma’s leadership, eBay partnered with hit ITV2 reality show Love Island in May – the first time the popular show has shunned fast fashion brands in favour of pre-owned product.
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If history has taught me anything.
When you see a bandwagon, don’t ever get on it.