eBay CEO Jamie Iannone said the marketplace saw higher sales of refurbished goods and vintage fashion over the Thanksgiving weekend.
The CEO made the remarks in a post on LinkedIn on Wednesday, where he said more people are choosing pre-loved and refurbished items for their holiday gifting this season than ever before.
“In fact,” he wrote, “new research reveals that 60% of Gen Z plan to shop for pre-loved or refurbished items this holiday, a significant shift in consumer behavior. We saw this play out on eBay over Thanksgiving weekend, with more searches and sales of refurbished inventory – from brands like Sonos and Dyson – and vintage fashion items, ranging from classic streetwear to luxury watches.”
Iannone called eBay a recommerce catalyst, helping shoppers to save money while reducing their environmental impact. With a changing mindset around pre-owned products, more people were discovering unique and personal holiday gifts that only eBay can deliver, he said.
eBay has greater competition in refurbished goods than in the past, however, as we noted today on the AuctionBytes Blog about the Amazon Second Chance Store that opened in the UK.
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