Well, thanks to eBay, despite the recession the online retail and auction site has seen a surge in the number of millionaires trading on its website.
This is great news for the top business owners, who no doubt have worked extremely hard to get their business in perfect working order, delivering excellent customer service and offering consumers competitive prices and delivery charges by using a cheap international courier.
A report released today shows that eBay expects to see a 25% rise in the number of companies turning over in excess of one million pounds in 2011. eBay anticipates 159 businesses making a million pounds trading on the site, within the Home & Garden, Motors, Consumer Electronics and Fashion sectors.
Excitingly, this is the fourth year of consecutive growth in the number of eBay millionaires, so there are obviously huge opportunities on eBay for anyone thinking of starting up a retail business. With the news that over 10% of millionaires expect to turn over at least £3million, surely this has got your brain ticking yeah?
If you are considering trading on eBay, or if you already do, it’s definitely a good idea to think about trading internationally, seeing as 98% of this year’s millionaire business owners boost their sales through selling overseas, and offering international courier services.
Angus McCarey, Retail Director for eBay UK says:
“We’ve seen a surge of businesses starting up on eBay since the recession which shows the vital role online businesses play in supporting the fragile UK economy. Exports are helping to drive this success as UK SMEs benefit from the international audience that selling online gives them. There are considerable opportunities for SMEs willing to ship internationally to EU and global customers.”
So my question is, exactly how do you become a millionaire business owner on eBay?
There are certain traits that I think one must have in order to become a successful business owner. And obviously it’s vital to be able to manage your shipping costs effectively, as well as all your other overheads.
Do you have any tips for selling on eBay? Has your business flourished on the site?
I would love to hear from any successful business owners trading on eBay.
What has made your business successful?