eBay has been undoubtedly one of the success stories of the internet age. Enabling the person on the street to easily set up their own online store and sell across their own country and the globe has been revolutionary for lots of online sellers, and a select number of eBay sellers are really raking the money in according to a new report out this week.
In the United Kingdom and Germany in particular, these so-called “millionaire sellers” have increased a huge amount in the past four years, with a 50% rise in both countries, with 1758 sellers there now, compared to just 1174 in 2013. The fact that the increase is so large in both the UK and Germany should not come as too big a surprise as these two countries are responsible for 30% of eBay’s global net revenue.
Examples of these businesses include MusicMagpie.co.uk which buys used CDs, DVDs, consoles and other electronics from consumers to resell on eBay in over 140 countries and MaxGear, which is now a £3.5 million a year business.
How eBay Has Evolved
eBay began life 22 years ago as an online auction site for consumers to buy and sell their secondhand goods. However, over time it has evolved and now 80% of all merchandise sold on eBay is new, largely fixed-price items.
Now one of the largest ecommerce platforms in the world. eBay’s United States market grew by 6.7% to $3.87 billion in 2016 while the rest of Europe and other international markets gained 9%. eBay is due to publish its second quarter results on July 20 where it is expected to post a 3.6% rise in net revenue.
eBay The Job Creator
In other news, it was shown this week just what effect that eBay can have on other businesses. With research in Ireland pointing to the fact that 81% of all Irish adults are now shopping on their smartphones, tablets or computers, Pitney Bowes announced recently that they have plans to create over 100 jobs in Dublin on the back of their increasing work with eBay.
George Berz Gal, vice-president for EMEA at Pitney Bowes’ global ecommerce group, told Siliconrepublic.com that the business is growing fast.
“A decade ago, we started helping with the shipment and logistics of parcels. We began having conversations with eBay in the US, and they approached us about enabling them and their sellers to transact and ship internationally. We are now extending that relationship to all marketplaces globally, and starting with eBay in the UK.”