The retail trend is definitely going strong, with Amazon and eBay ruling the game. But, just as weâ€™ve covered our retail review of Amazon, we have to do the same with eBay!
Because what else do we know about eBay other than it is an eCommerce platform where people can sell stuff? If you plan to join the retail industry as a buyer or a seller, you have to understand the basic inner working of eBay. Also, it has recently become one of the greatest formidable retail forces, especially after going up against StockX! Weâ€™re not saying that you have to become an expert on the platform. But knowing the minimum goes a long way! So, let us begin!
WHAT IS eBAY?
Everything You Should Know!
First and foremost, we have to begin with the basic answer to the question: what is eBay?
eBay is an online shopping eCommerce website that is best known for auctions and consumer-to-consumer sales. People mostly use it as their own personal sales channel to sell some of the most exclusive retail items.Â
It is available in 180 countries, including:
- United States
- United Kingdom
However, it is also interesting to note that it wasnâ€™t always as big as it is today! Which brings us to: what is eBay history?Â
In 1995, Pierre Omidyar – founder of eBay – spent Labor Day writing code on his personal computer. He then launched a website named AuctionWeb, which functions as a middleman between buyers and sellers in an open marketplace. As time went by, the platform grew so much and so fast that Pierre decided to fully dedicate his time to it. He worked on developing the platform after selling a total value of $7.2 million worth of merch!
Then, in September 1997, eBay was born!
How does it work?
Next, how is eBay different from other platforms, and how does it work? Weâ€™re going to start by comparing eBay to one of the biggest and greatest marketplaces in retail: Amazon!Â
|– Both are the longest-standing and leading marketplace for retail
– Both allow people to browse available products and make purchases
– And, both allow people to list products and make sales
– Both eBay and Amazon rely on third-party sellers to list their products
|– Works like a traditional retail store
– Seller oriented
– Works like an auction
Anyone can open an eBay account â€“ free of charge. It doesn’t matter when you are opening the account to buy or sell! However, if you are going to sell on it, you have to take into account the transaction fees! So, what is eBay charging?
It charges between 12- 15% of every transaction made by sellers. Check the full fee list here! But, with over 250 MILLION people buying off the platform, it is quite acceptable and still profitable! The multi-billion dollar marketplace is one of the most popular on the internet. And all of this is due to the fact that it has been going strong since the 90s. So, if youâ€™re going to do resale, we recommend you try eBay!Â
Also, if eBay still does feel like the right option for you, there are other retail options. Click on the button below to dive deeper into the world of retail and start making money!Â