Online marketplace eBay have announced that they have more eBay millionaires in the UK than ever before. Although the UK has battled against economic problems and austerity in the last few years, eBay have revealed that the number of eBay millionaires has more than doubled since 2013.
It has been revealed that the number of British businesses which are enjoying a turnover of £1Million or more has increased from 443 to 663 - which is a more than 50% rise since 2013.
eBay have announced that the most successful and fast growing businesses today in their online marketplace are selling fashion, furniture and electronics. Of the new businesses which have been recently registered by eBay, over a quarter (26.3%) were fashion, shoes and accessories, 22.9% electronics and 20.2% home and garden.
Some of the new eBay millionaires are as young as 19 and this - teamed with the other data, is a good indicator of who is buying from eBay. It seems perhaps that the people with the most money to spend on the marketplace are the younger or young professionals generation.
One of the new eBay Millionaires, 20-year old Monty George, who runs Furniture Box - an online furniture store, advises other eBay sellers – The best advnice I could possibly give to those who wish to see rapid growth of their business is to research the market and study the marketplace in order to find the niche among competitors. If you come up with a unique offer, the sales will hit the roof!
eBay Business Awards
eBay have also launched their UK Business Awards. With the success of many of their British businesses, they are looking for some of the best rising talent in business - whether they are already online and using eBay or whether they are just getting started and need a helping hand.
The prizes for the awards include help with development, cash and a trip to the eBay HQ in the US.
Rob Hatrell- the Vice President of eBay UK explains that the thing that gives them identity is business trading on eBay, and that he is thrilled that more and more merchants are managing to surpass one million pounds mark. He also claims that they are looking forward to meeting a new generation of millionaires, and that the eBay awards created for businesses are designed to give the voice to the best and brightest businesses in the country. It does not matter if they are just startups or already established merchants – the point is to give recognition to the real talent from the UK, and to involve even more local entrepreneurs in the world of online trading
This is proof that eBay are making an effort to support and develop their sellers, giving a greater chance of success for everyone.