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eBay expecting a third more businesses to set up via its marketplace this January

eBay [IRDX REBY] is expecting a third more businesses to set up on its marketplace this month than in the average month.

January is the most popular time to start selling via the marketplace, according to eBay’s own figures, with new traders most likely to register between noon and 4pm.

Rob Hattrell, VP of eBay in the UK, said: “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.”

Over the last three years, 75,000 new businesses started up via the eBay mobile app, and the top 10 most successful to register on eBay last year are now turning over almost £6m between them through their eBay stores – an average of £600,000 each.

Car parts and accessories feature strongly in the list of top products sold by new businesses, which is topped by rear light assemblies, with headlight assemblies coming third and wing mirrors and accessories coming fourth.

Case study
Jignesh Pabari, 22, from Southall, London, started his vehicle paint business Intermix Supplies Ltd, via eBay in January 2016. He left school at 15 and worked as a trainee in other trade businesses before taking the plunge to set up his own business in January 2016.

Two years later, he’s turned over around hundreds of thousands of pounds and is now planning to grow his business by expanding his product ranges and employing staff.

Pabari said: “There was no ‘lightbulb’ moment where I said I’d start a business, but the 2016 New Year felt like the right time to make the jump into starting my car paint firm. I’d always wanted to build my own company and always kept a casual eye out for gaps in the market. I noticed that consumers were increasingly repainting their cars, and re-colouring their vehicles to spruce up older models. In many ways, this trend inspired the decision to launch Intermix Supplies Ltd on eBay in early 2016.

“It’s hard to believe how far we’ve come since then. Through a combination of online sales on eBay and physical sales to local tradespeople, I’ve gradually been able to build up a reputation for good quality, reliable service and am seeing returning and referral customers, both online and in the physical shop. The key for the eBay shop is providing the same service for online customers as those who come through my doors.”

He added: “In 2018, the aim is to grow the business in new markets. By providing a wider range of products and building a team to manage demand, I can continue on an upward trajectory.”

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eBay is a multinational business-to-consumer and consumer-to-consumer marketplace. (more…)

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