This week eBay reported that its Offer to Buyer feature hit $1 billion in GMV (Gross Merchandise Volume) since January 1, 2020.
The feature, which is a reverse implementation of the Make Offer feature that has been on the marketplace since the early 2000s, enables sellers to close sales with buyers who added an item on their watch list or added the item into their cart, but did not check out.
Initially rolled out as a feature for C2C (Consumer to Consumer) sellers in 2019, B2C (Business to Consumer) wanted access to the feature as well as they saw an opportunity to reach more potential buyers.
eBay further enhanced the Offer to Buyer tool by allowing sellers to enable counteroffers, which allows them to keep buyers engaged for an eventual sale. And it is now possible for sellers to automate sending offers, reducing the time it takes for sellers to contact potential buyers.
By reaching the $1 billion milestone in 2020, it seems a fair amount of sellers have embraced the possibilities of the Offer to Buyer feature and it enabled them to increase buyer engagement and sales.
“This tool is fantastic and a total game changer for my business,” says Linda Lightman, CEO and Founder of Linda’s Stuff. “I’ve seen an impact on my sales from the day I started using this tool, and I can’t express how much I love it. It has proven to be so successful that we send offers several times throughout the day- morning, afternoon and evening.”
eBay said it will continue to develop and evolve this tool to make it even more useful for more sellers to help them close sales.
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