Consumers turning to eBay in recession

The financial crisis has seen a drop in retail sales, with consumers holding on to their money, it would seem.

But for eBay, profits have increased as people turn to online shopping during the recession for cheaper goods and great bargains.

The auction site analysed millions of transactions by casual home-sellers and found that in Britain, users are making ten dollars a day selling good online.

The research revealed that consumers are looking for cheaper alternatives for their goods and services, and are even going to the extreme of selling their own items on the auction site, for an extra bit of cash to get them through tough financial times.

eBay just recently launched a “beta” version of eBay Bucks, providing further incentives for users, by allowing participants to earn a two percent reward on certain items bought and paid for using eBay’s online service PayPal, with rewards coming in the form of gift certificates, which can be used to buy other items through eBay within 30 days.

People who read this, also liked:
Retailers beat the recession by harnessing the web
Consumer spending down, stimulus needed

Related Stories