My eBay While shopping online, shopping has been a big business for a while now. The global pandemic that started in early 2020 sent online shopping soars. There is a massive crowd of online shopping sites on the internet. Some of them, like my eBay are undeniably very famous within the e-commerce industry. My eBay is an online shopping site that functions as a business-to-consumer E-tailing enterprise and a consumer-to-consumer E-tailing business. It operates as an online marketplace where buyers and sellers meet.
This online shopping platform charges 12% to 15% of every transaction sellers make. However, it was famous around the period of the Dot-com rave and has ever since remained in our faces. This platform is extremely famous among online merchants who use it as a sales channel. However, this online shopping site is best known for its auctions. Since eBay launched in 1995, it has evolved from an auction website into one of the world’s largest marketplace for e-commerce brands.
Essential Stats of my eBay:
The shift from auction platforms to e-commerce platforms happened because they want to cater to consumers who value a quick, convenient shopping experience that other big online marketplaces provide. Many buyers do not want to wait until the end of the auction and potentially get into a bidding war to try and make a purchase. Therefore, purchasing products instantly at a fixed price has become increasingly popular. Very popular that the fixed price format now accounts for 90% of Marketplace Gross Merchandise Volume of eBay. Here are some of the essential stats of my eBay.
- It is one of the leading online marketplaces, and its Marketplace Gross Merchandise Volume (GMV) reaches $21.3 billion in the first quarter of 2020.
- There are almost 174 million active buyers globally on eBay. There is a great opportunity to reach new customers domestically and in different countries.
- The website’s mobile has been downloaded a total of 514 million times. So mobile sales accounted for 12.9 billion in the first quarter of 2020, and growth looks to continue. This marketplace continues to place a lot of focus on this area and even lobbied the UK Government in the past for improvement to the mobile network infrastructure.
Reasons You Should Sell On eBay:
The e-commerce store has driven sales and patronage worldwide since its inception. According to many user reviews, eBay was one of the pioneers of the e-commerce move. However, one of the major reasons it was able to get this is that it operates as an online marketplace. It is open for operation across several countries of the world. The multinational eBay Inc was established in America by Pierre Omidyar in 1995. It got such brand awareness and patronage because it meets one of the pertinent requirements of buyers and provides an ease to sellers as they sell.
The e-commerce marketplace keyed into the trending need to want to purchase various products at one stop to cut out time wasting, and my eBay did right with it. Shoppers flooded the platform for the value of convenient purchases that characterized sales on eBay. While at the point of view of the sellers, it made selling attractive to all. There was plenty of selling, and just about anything was being sold. Of course, the sales on the e-commerce platform became interesting, and everyone started selling off items they did not need as the market was also available. Here are some major reasons you should choose eBay to sell your products.
Sell Plethora and End of Line Stock:
ebay is a great e-commerce marketplace for shifting excess and end-of-line stock, with plenty of ready-made audiences interested in bagging a great deal. However, various opportunities are available to make this approach work for your business. You could sell all your products through a single store or build alternative stores for various product lines or grades of stock. For instance, if you want to start selling surplus stock directly to consumers to complement their other distribution channels, that might not be suitable for selling this type of stock. You can easily get that goal by setting up my eBay store as an outlet store or under a different brand identity altogether.
Reach New Audience:
The huge number of active buyers is the most prominent reason to consider selling on eBay, whether you are interested in selling domestically, internationally or both. Another important factor is that the audience may include those not reached easily through your other channels. There are also many sellers, with nearly 1 million live stores, further demonstrating the platform’s activity. Given that eBay offers the e-commerce store functionality as well as a range of seller tools. That means you can focus more on marketing to that new potential audience and working to increase your brand’s visibility.
Develop Brand Reputation:
There are many ways brands can do to build their reputation on eBay. In addition to this, the eBay feedback mechanism is one of them, which was an innovation when the site launched. It will allow the buyers and sellers to rate each other and leave appropriate feedback. It was the beginning of what we now see as the norm today, with reviews playing a basic part in our decision-making process for everything from consumer goods to hotels, restaurants, etc. However, the mechanism of eBay has changed over the years, but feedback still plays a major role in seller success.
How You Can Open eBay Store?
Opening an eBay store is the simplest task to undertake. It is easier to run a store on eBay than to set up your e-commerce store. Here are all the important steps to creating your eBay storefront:
- Download the eBay app. Open your account and sign up for the sellers’ accounts.
- You need to Purchase a subscription because you can’t run the shop without it. After paying your subscription fee, start customizing your storefront.
- You customize your storefront to reflect your brand and differentiate you from others.
- After that, put your products into the store and set up the details about the product you sell and discount deals.
- Once you have done this, fill in your bio and start selling.
It is undeniable that eBay is a fabulous starting point for entrepreneurs who want to experiment with e-commerce. It is the second largest global marketplace, with a total of 1.6 billion monthly visits. Setting up eBay provides you access to a larger worldwide audience and potentially develops significant revenue.