eBay is the cheapest online marketplace to buy pre-loved fashion in the UK, according to research by the discount retail site VoucherCodes.co.uk. The study analysed pricing data for 20 popular fashion brands, including Dior, Nike, and YEEZY, across eBay, Depop, and Vinted.
The research found that pricing across the three marketplaces varied dramatically, with eBay typically featuring the lowest prices for pre-loved fashions.
Lowest Prices for Pre-Loved Fashion
The analysis showed that 12 out of 20 researched items were priced significantly lower on eBay than Depop and Vinted. Only five items were cheaper on Depop and three on Vinted.
Highlighting the price differences across the various online marketplaces, the study showed a pair of Nike Air Jordan 1’s were priced at £10.92 on eBay while they were available at £45.33 on Vinted, an increase of 315%.
Other items showed very little price difference. For example, Levi’s 501 jeans only saw a £0.35 difference in price between the lowest and highest cost platforms.
What Does This Mean for eBay?
This is good news for eBay. The online marketplace has invested heavily in promoting itself as a sales venue for pre-loved fashion, sponsoring high-profile events like TV’s Love Island and recruiting brand ambassadors like Tasha Ghouri. This investment is all part of eBay’s wider strategy of becoming the retail platform of choice for the circular economy.
Low prices will be important in recruiting and retaining buyers, particularly in light of the ongoing cost-of-living crisis.
What Does This Mean for Vinted and Depop?
While Vinted and Depop are relatively new entrants to the marketplace, they will not be immune to the economies of scale experienced by more mature marketplaces like eBay and Amazon. The more sellers they attract, the more competitive those sellers will have to become on price. This problem will be amplified by new entrants to the pre-loved fashion marketplace.
What Does This Mean for Sellers?
At first glance, it might appear that sellers could potentially find higher profit margins on platforms like Depop and Vinted. However, this doesn’t consider the depth of eBay’s user base. While the likes of Depop and Vinted are incredibly popular with young shoppers hunting for pre-loved fashions, eBay is much more inclusive.
As well as attracting shoppers looking for brand new, last-season, imperfect, and pre-loved fashions, eBay also attracts buyers for pretty much anything and everything else. This means eBay is constantly building reputation and trust across multiple retail verticals. As a result, eBay has created a frictionless retail environment with more than 185 million registered buyers who might purchase pet products one moment, household items the next, and pre-loved fashion at any other time. It would be foolish to ignore this potential if you are looking to sell in volume.
This doesn’t mean you should ignore the potential of Depop and Vinted. On the contrary, like everything else you do in business, these venues should be tested, analysed, and integrated into your strategy where they work best.
It also means you should never throw the baby out with the bathwater and abandon strategies that have worked well in the past. If eBay has lost its edge, you may need to look at how well your listings are performing and take action to optimise them accordingly.
What Does This Mean for Buyers?
Speaking to journals, Anita Naik, Savings Expert at VoucherCodes.co.uk, said “When it comes to buying pre-loved fashion, thorough research and shopping around is always the best way to make sure you’re getting the most value, particularly for some of the more ‘cult’ items analysed in VoucherCodes’ research.
“Many people also don’t know that you can use discounts on items sold through resale platforms. VoucherCodes has great discounts for the likes of eBay, and whether you’re shopping first-hand or pre-loved, all of our codes are hand-tested to ensure you get the deal you’re promised.”
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