Scarcity of goods and a desire for sustainability are changing shopping behavior, and eBay is seeing an “incredible movement in pre-owned inventory,” according to executive Jordan Sweetnam.
In a message to sellers posted on Thursday, “Navigating the “Hard to Find” Holiday Season,” Sweetnam said eBay has always been the destination for people to shop for the impossible-to-find, but that’s not the full picture. “The larger story here is that disruptions to the supply chain are significantly changing the way people shop, and this will have lasting implications well beyond the holiday season.”
eBay experienced “significant upticks” in sales of scarce brands compared to this time last year, Sweetnam said, referring to all types of luxury brands such as Rolex, Louis Vuitton, and Nike.
A new report backs up the assertions that this holiday season may be different. Consumers should expect holiday shopping to be affected by supply chain disruptions and by inflation, according to a new survey by First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania.
Retailers are handling increased cost of goods and shipping in various ways. According to Professor Thomas Robertson, Academic Director of Wharton’s Baker Retailing Center, “Over a third of retailers are absorbing the hit and keeping prices consistent; however, an astounding 59 percent of retailers said they will be passing on the cost to consumers. For this holiday season, we anticipate that consumers are going to bear the brunt of this disruption through increased shipping and product prices.”
eBay’s Sweentam said eBay North America continues to see substantial growth in collectibles (“approximately $2 billion of GMV in the first half of the year, equal to all of 2020”), but he did not address the disruption collectibles sellers are facing after eBay rolled up Collectibles this month, eliminating subcategories and instead relying on Item Specifics (product attributes) to show shoppers what they’re looking for.
Sweetnam wrapped up this week’s post with the following message for sellers:
“A season – or a year – marked by uncertainty is not new. Some categories will experience significant shortages and long-lasting shifts in consumer behaviors, while others will see very little disruption. Regardless, this is eBay’s core strength – a marketplace powered by millions of sellers with a distributed supply chain that ensures eBay is THE destination for the unique, the rare, the coveted, and the hard to find.
“We will continue to work hard and build this momentum, with your help. As always, thank you for selling on eBay.”
You can find the full post on the eBay Seller Announcement board.
Used goods are fine if buying for yourself, but incredibly tacky as gifts. The A.I. generations just don’t have manners anymore.