eBay appears to be putting its holiday marketing budget into its handful of focus categories as it runs another sale in luxury goods to attract big spenders. After recently funding coupons to encourage shoppers in luxury watches and fine jewelry, it kicked off a sale on designer handbags on Cyber Monday.
Shoppers can get 15% off on a handbag or wallet selling for at least $500. The coupon discount is capped at a maximum value of $250 for purchases $500-$1,999.99; $350 for purchases $2,000-$4,999.99; and $850 for purchases of $5,000 or more.
Last year, eBay disclosed its strategy of going after what it termed “high value buyers,” explaining to Wall Street analysts that was the reason for the 2% decline in the number of buyers to 159 million in the first half of 2021. eBay Chief Financial Officer Steve Priest said high value buyers represented 20% of eBay buyers and account for about 75% of GMV (sales), while “low value buyers” represented 50% of eBay buyers and account for about 5% of GMV. (At the end of September 2022, eBay had 135 million active buyers worldwide.)
eBay ran a 10% off sale on luxury watches from November 15 – 24, 2022, with a minimum spend of $2000 and the discount capped at $1,300 for the highest tranche. That was followed by its 10% off sale in fine jewelry November 22nd through November 28th with a $300 minimum purchase and a discount capped at $500.
eBay’s current high-end handbag sale runs from November 28th through December 4th, 2022. Be sure to read the details for terms and restrictions if tempted to spurge.
eBay wants high-end shoppers? Well, they’ve got a funny way of showing it! They blocked my 8th most expensive item (out of over 1,000) from search because of a glitch that removes nude art (which is allowed according to their terms) from search. They promised monetary compensation by 8:17 pm Eastern Time on Thanksgiving, but that never showed up. They also told me that the issue was resolved on Black Friday (another lie).
With gas and home heating fuel (not to mention food) prices being what they are – the strategy is wrong.
Who has that kind of money? (better yet – where is eBay getting the funding for it all?)
If High End Buyers are their big idea, then why fight with sellers over selling refurbished items? (and illegally protecting certain sellers/kicking every one else?)
the emperor doesnt have new clothes
They would rather have 10 $1000 shoppers than 1000 $10 shoppers. Which are move likely to return and shop on eBay again?