| Its recent moves show a new direction to seize the growing sneaker market
Growing Market
- The sneaker and streetwear resale market is worth $2B in North America
- Growing by 20%+ YoY with the potential to reach $30 billion globally by end of 2030
- Last year alone, eBay’s Canadian sneaker sales grew by 325%
In its Q3 2021 earnings, eBay noted its U.S. sneaker business was healthy
- Growing at double-digit rates
- Its buyer spends approximately $2,000 on sneaker
- It was expanding to other markets, including Germany
- Brought its authentication program to Germany
Recent moves
Purchases sneaker authentication service Sneaker Con this week
- 1.55 million sneakers have been authenticated
- Could be a direct competitor in authentication service with Mercari US
Invest in 3D image capability on sneaker listings
- Leverage the capability of AI & ML
- Would allow buyers to interact with a 360-degree view of the item
- Already giving a trial for the item listing
Launches ‘Sleigh Drop’ Sneaker Sales Event
- Removed seller fees in the sneaker category for listings starting at more than $100 and recently expanded its Authenticity Guarantee service
Reference
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