This month, online marketplace eBay is returning to its roots by promoting exclusively pre-owned or refurbished Black Friday goods.
The platform asserts that it intends to take a novel approach to the pre-Christmas buying event.
Murray Lambell, eBay’s UK manager, stated that it was time to abandon the “purchasing for the sake of buying” approach.
He stated that a focus on secondhand will help people with the rising expense of living and be more eco-friendly.
It would also benefit vendors on the marketplace who offer refurbished goods, such as Ian Montgomery, who stated that the current economic crunch has already increased demand for his products.
Mr. Montgomery stated, “We’ve noticed a substantial shift in customer mood.” “Demand [for our products] is unquestionably on the rise.”
He reported that sales at his company, indirect, which sells coffee makers, mobile phones, and microwaves, were 20% higher than the previous year.
This Christmas trade season will be difficult for the remainder of the retail industry, as households have less discretionary income to spend.
Retail Economics expects that fewer individuals will participate in Black Friday this year and that spending will be 15% lower than in prior years.
Black Friday has grown from a frenzied rush to grab deals on the High Street to a month-long blizzard of marketing, including online, beginning on November 25.
However, Mr. Lambell argues that this industry-wide event no longer provides the same value as it once did, and instead promotes a “buying frenzy” that leads to unnecessary expenditure and waste.
According to eBay, their new strategy focuses on “thoughtful consumption.”
eBay was initially created as an online marketplace for the resale of old goods, but the majority of its transactions today consist of new goods. During the Black Friday period, new things will still be accessible, but aggressive promotion will be centered on used goods.
The company began focusing its marketing efforts on the “pre-loved” sector earlier this year by sponsoring ITV’s Love Island. In contrast to past seasons, in which contestants were given brand-new bikinis and other attire to wear on the show, this season’s contestants wore used bikinis and other clothing.
Other retailers have also observed an increase in client demand for secondhand goods.
At the beginning of this month, Zara introduced a new pre-owned service that allows customers to resell, repair, or donate garments purchased from its stores. Additionally, Primark has introduced a vintage concession in two of its flagship locations. Marks & Spencer and John Lewis have launched their projects in an attempt to tap into a rapidly expanding sector.
In a recent survey of buyers, eBay showed that around half intended to purchase used or refurbished gifts for Christmas.
