August 16, 2022

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Lettuce seeds, eBay tech growth revamped as consumers hunt for bargains

E-commerce market operator eBay says customers are flocking to its platform in droves as stress mounts on the price of dwelling to search out offers and bypass provide points which can be plaguing the remainder of the retail sector.

Paperwork filed with the Enterprise Inspectorate in late June present eBay’s companies in Australia and New Zealand carried out strongly final 12 months regardless of widespread coronavirus-related lockdowns.

eBay’s income rose greater than 40 % in 2021. Recognition:AP

The retail big’s native operations generated revenue of $13.6 million in 2021, up 47 % from $9.2 million within the prior 12 months. Income reached $74.2 million, a 12.5 % enhance over the earlier 12 months.

Rising rates of interest and inflation have prompted warnings that Australians will begin spending much less on sturdy items, however an eBay spokeswoman mentioned consumers are utilizing the location to search out bargains and generate profits amid robust financial situations.

“Individuals used our fiscal-end gross sales to get a cut price on laptops and residential home equipment, whereas we see individuals promoting used menswear, video video games and LEGO to make a fast buck,” the spokeswoman mentioned.

“We’ve additionally seen modern methods to bypass provide chain points and worth hikes, with lettuce seed gross sales on eBay rising by greater than 200 % as individuals look to develop their very own produce at residence.”

The variety of refurbished smartwatches, headphones and vacuum cleaners offered on eBay has additionally elevated over the previous two months, the corporate mentioned.

Ebay mentioned a lot of product classes that grew at the beginning of the pandemic are nonetheless gaining momentum.

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“Hobbies which have accelerated throughout COVID, like buying and selling playing cards and sneakers, proceed to develop on eBay,” a spokeswoman mentioned. Lettuce seeds, eBay tech growth revamped as consumers hunt for bargains