eBay Broke All Sales Records Over Cyber 5 Weekend Record
eBay’s Jordan Sweetnam penned a blog post about the marketplace’s performance over the big Cyber 5 shopping weekend (Thursday to Monday) which broke all sales records for the platform.
Don’t Miss
- Do you need a business bank account for your online business? Have a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits.
- AI can change your entire social media game today. Learn how you can save time writing engaging content faster. [sponsored]
- How to lower your taxable income and pay less in taxes. [sponsored]
- ‘My Community Made’ is a new marketplace to compete with Etsy and Amazon Handmade.
- EXCLUSIVE: Interview with Chris Prill, VP eBay Motors, discussing the new Guaranteed Fit program.
Refurbished and hard-to-find items, but also luxury items, emerged as top trends this year with shoppers searching on eBay for everything from Playstations to Jordans to Rolex watches.
Refurbished products may be becoming the new normal for many shoppers as buyers bought certified refurbished items like never before, from top brands such as Bose, Skullcandy, Cuisinart, DeWalt, Makita and iRobot.
eBay’s own research showed that 80 percent of Americans were open to receiving refurbished items as gifts. With sales of refurbished items increasing by 170 percent during the Cyber 5 weekend, actual sales seemed to have validated their research.
Of course, gaming systems increased by 215% vs. last year during this busy shopping weekend. And it’s not just the latest generation of consoles ringing up the numbers, but previous generation Playstation and Xbox consoles spiked 460% on average since last month.
Luxury goods are also alive and kicking with 10 luxury watches and 20 pairs of sneakers selling every minute on the eBay platform during Cyber 5.
Collectively, it appears eBay sellers had a great Cyber 5 weekend. With the COVID pandemic forcing more restrictions, lockdowns and people taking additional precautions by not shopping in stores, it seems eBay sellers should continue to see increased sales over the next two weeks.
But, with strong sales being reported by online retailers of all sizes, and as the days to December 25 dwindle down, can shipping carriers deliver packages on time? That may become the biggest challenge yet.
Connect with us: Head over to our Facebook Group for Small Business Sellers and interact with other small business owners.
Follow us on Facebook, Twitter, or LinkedIn to stay up to date with relevant news and business insights for your online business.
Subscribe to Our Newsletter
Business Insights for Your Online Business Presented with a Dash of Humor
We do not share your information and you can unsubscribe anytime.
Richard Meldner
Richard is co-founder of eSeller365. He has over 17 years of experience on eBay which includes tens of thousands of sales to buyers in over 100 countries and even has experience with eBay’s VeRO program enforcing intellectual property rights for a former employer. And for about two years Richard sold products on Amazon using Amazon FBA in the US.
To “relax” from the daily business grind, for a few weekends a year, he also works for IMSA as a professional race official.