Online marketplace eBay is going back to its roots this month, deciding to only promote deals on used or refurbished deals on Black Friday.
The platform wants to offer a different approach to the pre-Christmas shopping event.
It’s time to get away from the buy-to-buy mentality, said eBay’s UK boss Murray Lambell.
A focus on second-hand would help people with the rising cost of living and be more environmentally friendly, he said.
It will also benefit sellers on the platform who offer refurbished goods, such as Ian Montgomery, who said the current lack of income means there is already growing interest in his wares.
“We have sensed a strong shift in sentiment from our customers,” said Mr. Montgomery. “Support financially [for our products] definitely growing.”
He said sales of his company idoodirect, which offers coffee machines, mobile phones, microwave ovens and other items, were up 20% year-on-year.
- Energy fears are driving sales of electric blankets and air fryers
- Love Island could change second-hand buying habits
- The student buys second-hand clothes for high school
For the rest of the retail industry, this holiday trading season will be challenging as households have less discretionary income to spend.
Consultancy Retail Economics predicts fewer people will attend Black Friday this year and spending will fall by 15% compared to previous years.
Officially on November 25th, Black Friday has evolved from a chaotic rush for bargains on the high street into a month-long blizzard of promotions, including online.
However, Mr. Lambell believes this industry-wide extravagance isn’t delivering the same value it used to, and instead encourages a shopping frenzy that leads to unwanted spending and waste.
Ebay said its new strategy aims to move towards “prudent consumption”.
Ebay originally started as an online platform for reselling used items, but the majority of sales are now new items. New items will continue to be available during Black Friday, but active promotion will focus on used goods.
The company took a first step to focus its marketing on the pre-loved market with its sponsorship of ITV’s Love Island earlier this year. Contestants wore second-hand bikinis and other outfits, unlike previous series when they were given brand new items to wear on the show.
Other retailers have also recognized customers’ growing interest in buying more second-hand goods.
Earlier this month, Zara launched a new pre-owned service, offering shoppers the ability to resell, repair or donate clothes purchased in its stores. Primark has also launched a vintage concession in two of its flagship stores. Meanwhile, Marks & Spencer and John Lewis have also launched their own initiatives to tap into a rapidly growing market.
In a recent survey of buyers, eBay said about half plan to shop for used or refurbished gifts this Christmas.
Add Comment