New eBay Features Launched – Featuring Coded Coupons Update & Payment Scheduling
This week has seen two big announcements from eBay regarding new features for sellers on the US marketplace. These updates are around an update for the coded coupons feature that was released last year and the introduction of new payout scheduling options for US merchants.
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eBay Adds Buyer Groups to Coded Coupons
The first update is to the relatively new coded coupons feature that was introduced last year. The addition is that of buyer groups which allow merchants to segment their customers to better target them with the most relevant coupons.
This added level of complexity and control that buyer groups will allow coupon users is a welcome addition to eBay’s seller tools and could be a powerful feature if used properly.
You can see the full announcement from eBay below:
“Last year saw the launch of the coded coupons tool, available to Store subscribers, that lets you offer discounts to buyers by printing, sharing, and sending coupons.
Now with buyer groups, you can send your coded coupons in bulk to specific groups of buyers. You can reward your buyers with discounts on your own terms, build your customer base and send a coupon code to some of your previous buyers on eBay.
Why use buyer groups?
Buyer groups are the perfect way to share your coded coupons.
- Encourage loyalty: Share your coded coupons with a group of buyers who’ve previously purchased from you.
- Flexibility: Buyer groups give you more control and flexibility to offer discounts without lowering the item’s price.
- Open up new opportunities: Define category-specific buyer groups to use when your seasonal inventory has the most potential to sell. (Update as of March 16, 2022: This feature will be live in the next few weeks)
How to get started
You can send coded coupons to specific buyer groups by going to the Seller Hub Marketing tab and accessing the new buyer group section. It’s quick and easy to set up a buyer group.“
New eBay Payment Scheduling Options For US Sellers
In the second update, eBay has also increased the options available to merchants when scheduling their payments. On top of the existing daily and weekly schedules, eBay has now added the options for payments to be scheduled bi-weekly or monthly.
You can see the full announcement from eBay regarding payment schedules below:
“We’ve recently enhanced our payout scheduling options to bring you more flexibility when managing your eBay earnings. In addition to the existing daily and weekly payout schedule options, now you have two more options for when to have your payouts sent-biweekly or monthly. Remember, choosing a longer payout schedule may mean that more funds are available to use towards selling costs such as shipping labels and refunds.
Monthly, biweekly, and weekly payouts will include the Available funds earned from sales with confirmed payments through the Sunday prior to your payout date. In the event of a bank holiday, the payout will be made on the following business day.
When to expect your payouts:
- If you choose to receive payouts monthly, payouts of Available funds are sent to your bank on the first Tuesday of the calendar month.
- If you choose to receive payouts biweekly or weekly, payouts of Available funds are sent to your bank on Tuesdays.
- If you choose to receive payouts daily, payouts of Available funds are sent to your bank 2 business days after the buyer’s payment is confirmed.
Once eBay sends payouts, your bank will generally take 1-3 additional business days to make the funds from these payouts available to you.
Review your payout schedule here. Learn more about payouts in the Help Hub.
As always, thank you for selling on eBay”
These are the main features that have been announced following the eBay February update from last month. We will keep you up to date with the latest announcements from eBay as and when they happen.
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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.