Hello there, online business tycoon. Amazon could already be doing wonders for you. And that’s great. But just a little friendly suggestion, have you ever thought of making your presence known on other platforms too? Say, eBay?
If you had a physical store, I’d be telling you to set up another branch somewhere new. But since we’re talking about e-commerce here, eBay is also another competitive online platform where you could set up camp. If you’re looking towards achieving a new milestone for your business, eBay is a great place to do just that. Being the pioneer of online buy and sell, the site’s power in terms of traffic and sales generation is not something you should make the mistake of overlooking.
Mind-blowing numbers about eBay to take note
- $10.7 billion was the sales revenue of eBay in just the first half of 2020
- 4% user growth of eBay from 2018 to 2019
- 182 million, approximate user count of eBay in 2019
- 66 million monthly mobile users
- 476 million downloads for the mobile app making it the 3rd most widely-used shopping app in the US, following Amazon and Walmart
- 70% US-based traffic
- China, Canada, Russia, and United Kingdom come after
- 79% of eBay’s total sales are from fixed-priced products (Buy Now) listings
- 61% of customers are in the age group of 35 years old and above
eBay is highly regarded for having a user-friendly and customer-friendly experience. Return processes are made easy for customers. Among the best-selling categories on the platform are “Electronics and Accessories” and “Clothing and Accessories.”
Some unique eBay characteristics
Random, Liberated Listings
eBay sellers have the freedom to create their own listings and are not required to have them registered in a catalog. It does not have strict product categorization and classification policies. It’s like a yard sale where you just lay out everything you want to sell. You don’t need to be a fully established store. Individuals can just post whatever, whenever.
No standardized product listing system
eBay has always been known for it being a great place to sell used items. This means you do not need to comply with all the technicalities that come with posting a product for sale like Amazon which already has a preexisting description attached to any product that falls under that category. Since eBay does not have a catalog, there’s no system to follow. Everything you put in relation to your product posting is entirely your own. The display pictures can be your own as well. This gives an advantage for anyone who sells used items because you can be honest about the actual appearance of your product and put your own specific details and description.
You call the shots
Sure, competition is tough as well. Where else isn’t? But to say again, you get to decide how your posting performs. Optimization is all up to you. You can have an edge with competition through advertising and marketing strategies that are up to date and effective.
The home for the one-of-a-kind
All the other online marketplaces have their own vibe. Amazon is more of the online mall for the generic and common, Etsy is a hip and aesthetic store, while eBay is the place where classic items that people forgot existed but realized they’ve always wanted can be found. In eBay, items of high value are often auctioned. Collectors turn to eBay when they are on the hunt for a precious collective item. And since these items are one-of-a-kind, it does not bode well to have them sold on Amazon where the listing can be overshadowed and the need to be categorized.
Paid ads work differently
You boost visibility of your listing on eBay to improve your chances of reaching potential buyers at the cost of a small fee. You are free to decide just how much money you want to put into advertising compared to a tight competition of keyword researches and optimization strategies. You have the option between 1-20% of the product price. The system suggests a rate but you still get the last say. eBay sponsored ads appear on the top portion, and appear at a regular interval. Also, Learn more about eBay’s advertising by clicking here.
You can feel that you are in independent seller
eBay has this ability to make you exert your control and responsibility as a seller by letting you make your own decisions. From shipping options, return policies, mode of payment options, you are free to make your own rules. You can even choose not to allow product returns. You can set your own handling time, provided that you follow through with the estimated delivery date that eBay sets.
eBay grants an account 200 free listings every month. If a seller exceeds that limit, an approximate $0.35 fee is charged per new listing. But after a sale is through, eBay does require you to pay a commission fee. A small price compared to having to pay each time you post a new listing. Also, another good thing about eBay is that it does not rob you blindly of your sales. They are calculated first then the bill comes later. This system is an inconvenience for businesses that immediately need the cash.
Generally instant payout
One of the things that sellers like most about eBay is that their payments come through as soon as the transaction is completed. The amount you are due is automatically deposited to your Paypay account that you linked and are available for withdrawal that same time as well. Other marketplaces have a scheduled time of release for profits that work similarly like paychecks, given collectively every two weeks.
Multiple payment options
Yes, you read that right. Paypal, the most convenient online transaction medium can be used in eBay. Regardless of the mode of payment used by the buyer to pay for the product, it is still processed in Paypal. Other alternatives can be Apple Pay and Google Pay. Pay-upon-pickup system is also possible for local shipments.
What we’re saying is…
This is not with the intention to drive you away from your current market platform. We are simply putting in a good word for eBay to persuade you to branch out. Multiple platforms can give you better chances and many potential buyers coming from different places.
While there’s nothing wrong with sticking to one platform for easy management, a growing business needs to find more avenue to make itself known and have more than one income stream. eBay is just as good as Amazon, and all of the other marketplaces on the web. You are definitely in for a whole new audience and customer pool. It has a different system, a more liberated one at that. Plus, it came first!