eBay Thanks Sellers For 2022 & Looks To The New Year
eBay US has followed the trend a little later than its international counterparts and released a statement thanking sellers for their business in 2022.
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Adam Ireland, the new GM, and VP of eBay US thanked sellers for their contributions and accomplishments on the marketplace for 2022 and highlighted some of the biggest trends and what they expect to continue into 2023.
You can see the full statement from Adam Ireland below:
eBay Statement on 2022 Sellers & New Year Trends
While the end of a year can feel like a balancing act between work and family and holidays, I hope it also encourages reflection and optimism. As we greet 2023, I wanted to pause and express my gratitude to eBay’s most valuable partners — you, our Sellers — for your meaningful contributions and incredible accomplishments. The holidays and start of a new year are always a magical time, but the real magic for me is in the dedication, innovation, and inspiration you all bring to eBay each and every day of the year.
Twenty-seven (new) years in, eBay continues to evolve and push the boundaries of what’s possible for a marketplace, and I’m eager to share some themes from the past year that we’ll carry into the next:
Recommerce keeps booming
It’s no secret that in 2022 the ecommerce spotlight turned itself on resale, as shifts in buying habits and business models made headlines.
All through 2022 — whether described as ‘circular,’ ‘not-new’ or ‘pre-owned’ — resale items shed the stigma they once held. Today, vintage is trending, pre-loved is recognized as both a great way to save money and in-line with today’s street-culture currents, and #thrifted caught shoppers attention like never before. Refurbished is flourishing as a better economic and environmental choice. And with more quality control and authenticity protections in place, shoppers have more confidence than ever in their resale experiences.
Resale traction has tripled since 2020 and is predicted to reach $82 billion by 2026, with shoppers expected to shift more of their spending to pre-owned more than any other channel in the next four years. Cost-consciousness, particularly in shaky economic times, is a key driver for resale. So is access to ‘inaccessible’ items, like luxury, where we found that nearly 70% of consumers turn to eBay because we’re where the top-shelf inventory is.
Finally, let’s not ignore the tilt towards sustainability: more than one-third of eBay shoppers cite the environment as their main or secondary reason for shopping on eBay. Among the Gen Z consumer this is especially material, with nearly 50% sharing that environmental concerns affect their purchase decisions, and 80% purchasing pre-owned goods in the past 12 months.
Fun fact: Did you know that Gen Z’s use of eBay continues to rise? In a survey of Gen Zers in the U.S., 31% said they’ve purchased from us in the past three months, making them our second most popular generation on eBay — topped only by millennials at 33%. And among resale marketplaces used by Gen Z, eBay is ranked #1. Considering the oldest Gen Zers are just entering their mid-twenties, this leaves lots of room for upward momentum.
Enthusiasts are spending
Despite inflation and in the face of an uncertain economy, sales data showed that overall U.S. retail spending was resilient over the holiday season, and even rose year-over-year, according to third-party reports like Mastercard SpendingPulse. While sales and discounts on standardized items may continue into the new year, there’s really no comparison with the one-of-a-kind inventory you offer. Yes, many shoppers will be price-driven in the weeks and months ahead, but people will also continue to diversify to include more resale, and seek those ‘unicorn’ and ‘passion’ products they can’t get elsewhere — making budget exceptions when they find them.
This makes the hobbyist, expert, and collector communities that you attract and nurture a powerful differentiator for people seeking status brands, sold-out or discontinued items, and plain-old hard-to-get goods. And as resale adoption and enthusiast spending evolves, shoppers will organically discover new brands, parallel categories, and so much more that they didn’t know about before, or imagine they could afford, in your listings. So keep embracing your unique inventory — it’s your selling superpower!
We all expect awesome experiences
With more of us online than ever before, our long-term strategy of investing in great experiences will continue — innovating to build more trust, remove friction, enhance listing visibility, and even encourage exploration of different categories and markets. This metamorphosis began in 2019, when we embarked on a strategy of across-the-board investments in tools, standards and experiences to bring you new and more frequent buyers.
Fast forward to 2022, and our investments expanded, including the roll-out of eBay International Shipping, which we’ll continue to expand to open up new markets and wider audiences for your business growth. To bring your inventory to life in the most detailed and realistic light, we doubled your image capabilities — from 12 to 24 — to highlight items from every angle and perspective. We added video to all listings, not just stores. We expanded accessibility to high-def imaging technology like 3D true view. And we rolled out our eBay Live experiences, hosting more than a dozen live commerce events for Collectibles and Luxury, with even more planned for 2023.
Seeding for the future
I’ve only scratched the surface of the past year. To keep this momentum going, we have ambitious plans for 2023, including the hosting of more virtual and in-person Seller gatherings (some even on your turf!), the expansion of new retail experiences, and a continued cadence of recommerce insights and data — all to help you attract more buyers, showcase your listings, and grow your velocity.
In the meantime and as we greet the New Year, I hope that during the holidays you found time for friends and family, maybe tossed a few snowballs, and even indulged in at least one good long nap. I got to spend time with family and loved seeing the joy as my kids opened gifts, but am now excited to come back recharged, refreshed and ready to jump into 2023 — in service of you, our Sellers, who have built us into such an amazing community and platform. There’s a lot of opportunity on the horizon, and no greater privilege than tackling that opportunity together with you.
On behalf of us all at eBay, I wish you a happy and prosperous New Year. And, as always, a heartfelt thank you for selling on eBay!
GM and VP, eBay U.S.”
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Dave is a Co-Founder of eSeller365. For over 10 years he has been involved with eCommerce with a particular interest in the marketplaces and the huge opportunities available for sellers when utilizing a multi-channel strategy. After a year of being the UK’s youngest eCommerce consultant, he built an education platform called UnderstandingE that showed the world how to utilize Magento as the “Third Generation of Multi-Channel software”.
Dave has also created a YouTube channel dedicated to entrepreneurship and eCommerce as well as a podcast dedicated to mental health awareness. When Dave isn’t working his main interests include learning and playing Chess, researching the Crypto and NFT space, and trying to find the nearest beach.