06/29/2020 | News release | Distributed by Public on 06/29/2020 11:20
It's been a couple weeks since I last shared an update on shopping trends. But I promised we'd keep these coming, and wanted to pass along some interesting new data that shows a change in the consumer mindset. A recent survey is helping us better understand the resale market - from refurbished to pre-owned merchandise - not just on eBay, but how consumers are shopping everywhere, and how they are prepared to spend in the future. What we found is surprising and reflects a shift in buyer behavior: 90%of respondents said they are now buying refurbished and pre-owned to save while getting exactly what they want, and 75%said they are doing so for both cost and convenience.
This is good news for our marketplace, which has a dynamic selection of this inventory, and for our sellers - both individuals and brands who are looking for new distribution channels. People are looking for better value, and they also want to shop in a way that supports their own values. We're seeing that supporting the environment, making choices that result in less waste, is becoming more important, and eBay has always been a leader here. It's exciting to watch the spike in interest for like-new electronics, home appliances and other items - and many of these purchased on eBay include warranties, as we look to find new ways to meet consumers' needs. While some of the shift in spending reflects the current environment, much of this is driven by long term changes in consumer preference that we expect to continue for the foreseeable future.
I wanted to share these findings with you as a reminder that our customers are often looking for items in all different conditions and a variety of price points. The infographic below offers a closer look, and I hope this is helpful.
1The eBay Survey-U.S. was conducted by Wakefield Research among 1,000 nationally representative US adults ages 18+, between April 17th and April 23rd, 2020.
Thanks, as always, for selling on eBay.
SVP + General Manager, Americas Market