eBay UK released new research suggesting that Brits have only £184 on average to spend between Boxing Day (26 December) and the first payday in January, that’s on average £5.26 of disposable income per day.
What it means: The survey — which was carried out by Opinium in mid-December with 2,000 UK adults — also found 29% of respondents are setting savings goals, and 20% are selling items online to generate extra money.
Additionally, 44% of Brits surveyed said they are making New Year’s resolutions around saving money with inflation and the cost-of-living crisis continuing to affect their wallets.
And over half (58%) of Brits want to declutter their home and turn unused items into extra money, while 15% also believe doing so benefits their mental health.
eBay UK promo: To kick start 2023, eBay UK is motivating Brits to join the ReSELLution, to help people declutter their lives from unused items while boosting their bank balance.
Therefore, in January, those making their very first sale on eBay will not have to pay selling fees on that listing, reducing the barrier to selling on eBay while encouraging people to join the ReSELLution movement.
What they’re saying: “Over the past few months, many of us have had to turn down plans or put them on hold due to the increasing cost of living making us reconsider where we spend,” said Emma Grant, Head of Pre-Loved at eBay UK.
“Which is why we’re launching the ReSELLution in January – a movement designed to get the nation decluttering and making some extra cash post-Christmas.
“At eBay, we’re on a mission to help you save money, but also keep items in circulation and ultimately support your lifestyle as we kick off a new year.”
What else is important: Additional findings from the survey show that most respondents believe that the bedroom (20%) and attic (15%) are the most profitable rooms in their home.
Fueling the desire to look for an additional source of money, 47% of Brits feel apprehensive about next year because of financial struggles. 66% believe they are unprepared for 2023 due to rising energy bills, and 64% are concerned about continued rising food costs.
Of note: But while making extra money is a big motive, sustainability is another, with 62% of Brits willing to sell a Christmas present that they didn’t like or don’t use.
How Much Can Sellers Make on eBay UK?
What can new sellers expect to get from selling unused items on eBay UK? The company calculated the average selling prices of popular products on its marketplace to be:
- Bicycle – £284
- Tablet – £171
- Video Games Console – £158
- Smart Watch – £124
- Ping Pong Table – £120
- Vacuum Cleaner – £86
- Hair Dryer – £70
- Car seat – £65
- Pod & Capsule Coffee Machine – £60
- Air bed – £40
- Christmas Tree – £38
- Juicer – £36
Of course, these are average selling prices that vary by condition, original value, and other factors, but they provide a small idea of what is possible.
Bottom line: The ReSELLution aims to help Brits concerned about their finances by selling unused and undesired items in their home.
Households surveyed believe they could make £477 by selling items they no longer need and eBay UK is ready to help them get a start. It could even turn into a lucrative continuing side hustle or full-time job as eBay’s Small Business report found.
Connect with us: Head over to our Facebook Group for Small Business Sellers and interact with other small business owners.
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