We have all tried it. Whether it was an attempt at nabbing a vintage nostalgic item or a bid to find a sold-out treasure, almost everyone has shopped on eBay. This site allows sellers to make income by hocking their attic wares, and buyers get the opportunity to possess items that have been discontinued, sold out, or forgotten.
In 2020, it will become more and more important to make connections, especially to our past. eBay’s platform has become a wildly popular way to do just that. By creating an industry dubbed recommerce, eBay has made what once was the domain of garage sales into a booming market performer. Over 72% of people surveyed say that it is becoming more widespread and acceptable to engage with the platform.
eBay offers a unique service to its customers. Its auction-style setup makes it a truly unique experience for both seller and buyer. In recent years. Sellers have been founding a business off of eBay’s platform due to convenience and interest. In fact, eBay was integral in helping aid people who needed financial supplementation throughout the pandemic. In the UK alone over 68% of people turned to antique sites as a way to help subsidize their income during the pandemic.
A lot can be said about eBay’s gradual yet sudden rise to fame but it can be simply summed up to this. By offering a truly unique service eBay has solidified its place in the e-commerce realm and dominated and innovated the recommerce world as well. Its current trajectory is only going up and could very well compete with giants such as Amazon if they continue to innovate and stay true to its mission. However, one small deviation and it might be time to leave the market.
Learn more about recommerce and the rise of the secondhand economy in the infographic below:
Infographic Source: eBay