"On Yahoo Finance's Opening Bid Unfiltered podcast this week, Iannone said that an average household contains at least $3,000 to $4,000 worth of items that could be sold online. Collectibles like Pokémon cards and trading cards, for example, were a "massive business" that contributed to $10 billion worth of products sold annually. "The whole idea is to unlock what's in people's closets and garages and houses," Iannone said on the podcast. "And so, really unlocking all of that amazing inventory.""
"Besides collectibles, secondhand items are popular on eBay, especially among younger buyers. Iannone said that nearly half of the items (40%) sold on the site are used or refurbished. "We have a lot of accidental entrepreneurs, people that didn't intend to build a business on eBay, they just needed money," Iannone said on the podcast. "So they turned to eBay to make a little extra money and turned that into a side business.""
An average household contains an estimated $3,000 to $4,000 in items that could be sold online. Collectibles such as Pokémon and trading cards form a large category, contributing roughly $10 billion in annual sales. eBay aims to unlock inventory stored in closets, garages, and houses to connect sellers with buyers. The platform has 134 million active buyers in the second quarter and a market value above $40 billion, with stock up over 46% year-to-date. Approximately 40% of items sold are used or refurbished, and many sellers become accidental entrepreneurs seeking extra cash.
Read at Entrepreneur
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