Over the past year, 300 new eBay millionaires have surfaced amid intense competition and growing customer expectations in the UK. We find out who these millionaires are and how they beat out the competition in ecommerce.
In the last 12 months, the number of eBay millionaires in the UK has shot up by 50 percent year-on-year. These self-made millionaires aredefined as a British registered business on eBay.co.uk with an annual turnover of 1 million or more.
These small businesses have taken their products to over 23 million customers a week just by virtue of being on eBay’s platform.
eBay has been through an incredible journey in the UK over the past 22 years. 23 million Brits continue to visit us every week, and it’s no surprise that the nimble small businesses which understand and cater to the ever-changing tastes of British shoppers are flourishing, “rob Hattrell, VP of eBay in the UK said.
we provide Brits with the opportunity to make a living out of their passion and our entrepreneurs are becoming more successful than ever, with a significant increase in the number of millionaires on the platform over the past twelve months, ” he added. “it’s this success that really motivates us as a business.”
Step aside, Londoners
The greatest volume of eBay UK millionaires per capita aren’t based in the capital. Most are in the midlands and up north, concentrated in Manchester, Birmingham and West Yorkshire. According to research from eBay, Greater Manchester has a higher concentration of small online businesses than anywhere else in the UK, and the sheer number of eBay millionaires in this region suggests that many are thriving.
Home, furniture and DIY: Compare the Bathroom
Home, furniture and DIY businesses have surged on eBay over the past year, with most new millionaires running businesses in these categories, fuelled by shoppers favouring outdoor living and a more sustainable lifestyle.
One such firm is Compare the Bathroom, a successful family bathroom business run by Ken Dawson and his two brothers, which has been in operation for 40 years. The firm now boasts three showrooms across North East England.
Compare the Bathroom began selling on eBay in 2010, and now receive an average of 80 orders per day, taking their turnover more than 1 million on eBay in 2017, driven by younger consumers making big-ticket purchases on eBay.
‘sales have increased significantly over the last two years as younger customers increasingly choose online to source the products they need for their home improvement projects. Unlike other customer segments who tend the prefer the physical store, younger consumers are much more comfortable shopping online, even for larger purchases like bathrooms, “ken Dawson, co-founder of Compare the Bathroom, said.
key to this has been that weve been able to combine 40 years of industry and customer service experience with a marketplace like eBay, to access millions of consumers up and down the country and even as far afield as Australia and New York.”
The company is seeing a lot of consumer trends take form based on shopping behaviours, according to Dawson. More customers opt for showers over baths as changing lifestyles mean people are living faster-paced lives in smaller spaces, he said.