eBay is among the most high-volume yet underrated marketplaces online. Billions of dollars worth of goods are sold on eBay every year, and sales representatives must be apprised of it as an active and serious prospect.
If you are a sales representative, here are some eBay statistics that are sure to make your mouth water!
More than 182 million merchants worldwide use eBay to buy and sell goods. What's more, this number has only been growing, with the company observing a nearly 4% increase year-over-year.
As a sales representative, this large volume of users presents one of the largest markets to which you can expose your company. Selling on eBay, regardless of your scale, can improve your sales volume while also aiding your bottom line.
Here's an amazing fact: there are over 1.3 billion listings on eBay! With less than 15% of that number being the customer base, this represents significant competition among eBay sellers for the same customer.
Being a sales representative, it is important for you to know the kind of competition you are faced with. This will enable you to develop a sales strategy that puts you at the top of the pile for consumers.
Over USD 60 billion worth of goods were sold in eBay in the first three quarters of 2020. This number represents the huge contribution that eBay has to the revenues of eBay sellers.
Sales representatives can use such eBay statistics to pitch the idea of eBay as a selling prospect to company owners and managers. This number has only been growing over the past years, and with the number of people with stable internet access rising, it will only increase faster in the coming years.
In the US, over 60 million users actively browse or conduct transactions on the eBay app. This means one in every three American mobile phones has the eBay app!
Hence, eBay is not just close to the top in the eCommerce website list but is also a mobile app giant. Sales representatives can utilize this insight to encourage the development of a marketing and sales strategy more optimized for mobile sales.
One in every six goods sold on eBay belongs to the "electronics and appliances" category. A similar share of sales also belongs to the "clothing and accessories" category.
If you are a sales representative for any of these industries, you must make sure to add your company to the list of eBay sellers. With top eBay sellers from these categories clearly making a big buck, even a small slice of the pie can make you huge profits.
eBay sales statistics indicate that more than three-fifths of sales transactions take place on mobile. Combined with the above statistic on the huge number of users who have the eBay app, this makes a strong case for promoting online sales.
Users are unlikely to be on the laptop or desktop as often as they are on their mobile phones. With the capabilities of smartphones increasing over the years, the utility of desktop-based systems is only likely to decrease.
Over the past years, eCommerce trends have been suggesting an accelerating shift toward the online domain. Sellers who do not shift online within the next few years are likely to be left behind as early adopters succeed.
Sellers often shy away from using promotions on eBay since they represent an added cost and a supposed reduction in the profit margin. However, with one in five eBay listings using the "Promoted Listing" feature, investment in promotion is becoming the rule rather than the exception.
As a sales representative, you must aggressively promote your goods on all platforms. Even the promotion of one listing can have a domino effect if you receive positive reviews on your sellers' page.
With more than 70% of all eBay products being shipped for free, customers nowadays expect you to offer free shipping. Free shipping is a necessity if you want your company to succeed on a platform such as eBay. Not just the top eBay sellers, but a whole 71% of all the transactions made on eBay involve free shipping.
If you believe you will not get good margins by offering free shipping, you might include the shipping cost in the retail price you offer. This can be useful since your product will still reflect in the Free Shipping filter in the eBay search results.
While eBay has the reputation of being a platform where old goods are sold, four out of every five goods sold on eBay are actually new. The old goods option does do wonders for the versatility of eBay since it probably does bring in more customers looking for old stuff. However, the data seems to suggest that they eventually end up buying new goods.
eBay demographics make for an interesting case study. More than 25% of all eBay sellers belong to the United States. In fact, the US, the UK, China, and Germany are the top four eBay markets and, put together, account for 86% of the 25 million eBay sellers active on the platform.
This presents great opportunities in the other 186 countries where eBay is active but not home to a large number of sellers. You can obliterate your competitors by listing on the online marketplace and joining the eBay sellers hub.
The above statistics indicate the humungous power of eBay in the retail space. With little added cost, most businesses that list on eBay will observe a benefit to their bottom line. As a sales representative, you can gain many customers on eBay and deliver profits for your company.