Last year, eBay introduced the Certified Refurbished program and the commerce company is now introducing eBay Refurbished with multiple condition grades and a wider range of price points on like-new products. This new option shares an assortment of products from pre-selected brands and top sellers on the platform, all based on standardized condition grading.
This expansion of the program helps buyers find the exact products they are looking for that are within their budget and available from trusted sources. eBay's press release cites a Wakefield Research survey that says "62% of respondents are considering buying refurbished electronics, and 84% are open to receiving refurbished gifts this holiday season."
In response to holiday scarcity and supply chain challenges, eBay reports that consumers are buying refurbished products for themselves and people on their gift lists.
Refurbished E-Commerce Marketplaces
'eBay Refurbished' Shares Products from Brands & Top Sellers
Trend Themes
1. Certified Refurbished Programs - There is an opportunity for companies to introduce certified refurbished programs to build trust and attract buyers looking to purchase like-new products.
2. Refurbished E-commerce Marketplaces - There is an opportunity for e-commerce marketplaces to expand their product offerings to include refurbished items and cater to buyers looking for affordability and sustainability.
3. Demand for Refurbished Products - There is an opportunity for manufacturers to capitalize on the growing demand for refurbished products by offering trade-in and upgrade programs to encourage customers to purchase their latest products while also presenting options for affordable refurbishment.
Industry Implications
1. E-commerce - E-commerce companies can leverage the growing demand for refurbished products by establishing specialized platforms and programs for the sale of refurbished goods.
2. Consumer Electronics - Consumer electronics manufacturers can offer trade-in and upgrade programs to encourage customers to purchase the latest products while also presenting options for affordable refurbishment.
3. Retail - Retailers can invest in refurbishment programs for returned or damaged products to reclaim their value and capture the growing demand for sustainable, affordable options.