eBay Launches New Consignment Service To Woo Sellers — Retail Bum

eBay is introducing a new consignment service that will enable users to connect with expert sellers who can help list and sell pre-owned products on their behalf.

The launch of the new service will position the company to better compete with newer peer-to-peer (P2P) marketplaces such as ThredUp and The RealReal.

To kick off the initiative, the company is teaming up with Linda Lightman, an eBay seller with more than 20 years of experience operating on the platform.

The new service has been developed for “removing logistical barriers to entry into the secondary marketplace and bolstering eBay as a preferred destination for luxury and fashion consignment,” the company said.
Initially, the service will just be made available for designer handbags from brands such as Chanel, Hermès, Louis Vuitton, and Prada. It will be expanded to cover other categories by next year.

The announcement comes slightly over a month after eBay reported its Q2 earnings, which showed that the platform is struggling to retain its customer base and is losing ground to eCommerce giant Amazon and traditional retailers like Walmart, who have enhanced their online offerings.

During Q2 2023, eBay’s gross merchandise volume fell by 2% to $18.2 billion. Meanwhile, total active buyers declined by 4% compared to the previous quarter, leaving the company with some 132 million active buyers.

Originally published at https://retailbum.com on September 13, 2023.