There are now over 1,000 eBay eBay Millionaires in the UK
eBay has revealed that the number of self-made eBay Millionaires selling on the marketplace has grown by over 300. Now, for the first time in its 22-year history in the UK, there are over one thousand eBay millionaire businesses in the UK.
An eBay Millionaire is defined as a British registered business on eBay UK with an annual turnover of £1 million or more.
The growth in the number of eBay Millionaires has exceeded 50%. In 2013 there were just 443 eBay Millionaires and this grew to over 600 by July 2017 so the number of businesses reaching this milestone is not only growing but accelerating on an exponential curve. eBay added almost as many eBay Millionaires this year as they had in total five years ago!
We shouldn’t think of eBay Millionaires as simply turning over £1 Million a year, there are many of those thousand businesses who are turning over multiple millions on eBay.
“eBay has been through an incredible journey in the UK over the past 22 years. 23 million Brits continue to visit us every week, and it’s no surprise that the nimble small businesses which understand and cater to the ever-changing tastes of British shoppers are flourishing. We provide Brits with the opportunity to make a living out of their passion – and our entrepreneurs are becoming more successful than ever, with a significant increase in the number of millionaires on the platform over the past twelve months.”
– Rob Hattrell, eBay UK VP
Top 5 new eBay Millionaire Product Categories
It’s interesting to see where the new eBay Millionaires are finding success, so here are the top five categories that the new eBay Millionaires are coming from:
How big is eBay UK?
In the UK and Ireland, over 24 million people visit eBay every month – that’s over a third as many unique visitors as walk down London’s Oxford Street.
The UK population is about 66.6 million of which about 47.6 million are adults. It would be a nice round number to say that 50% of adults visit eBay on a monthly basis and although the number is probably close to that, we have no way of estimating how many children who aren’t eligible for an account are included in the visitor numbers.
Worldwide, eBay attract 171 million visitors so with 24 million visiting eBay UK around 14% of the eBay world’s customers are concentrated in the relatively small British Isles.
Watch the number of millionaires slowly go down as they move trade off the site due the alarming reduction in buyers.
They have been throttling sellers listings since mid April and it is just not the dropshippers but all sellers
turnover vanity! profit sanity!
…and cash is reality.
Annual “turnover” of £1 million, with so many people selling at 3% margin level that is a whopping £30k for the seller and say £100K for eBay. In my sector there are many selling at a LOSS…
House always WINS. We have always been very margin focused and with a reduced turnover we have increased margins (it is getting harder every week however).
@northumbrian summed it up above….
It’s business to make ebay money not sellers. Being on 3% margin and ebay takes 20% makes no sense
Since when did eBay take 20% Jack? eBay takes around 11%
@josh. Take a look at your eBay invoice. Bottom left corner shows you the actual percentage you’re paying. This includes shop fees, listing fees on items that don’t sell etc – the less obvious costs of eBay.
In a polite and very nice way, I’m interested why you would think that eBay would throttle sellers’ listings? Drop shipping apart, would it be because they are not following the industry standard requirements eBay have?
eBay make most money on Final Value Fees, if a sale isn’t made they don’t get paid. If you are not the type of seller that will deliver the service and standard that eBay require then they’ll put a seller who does in front of buyers.
Is the sign in the photo supposed to have a typo?
Good spot and no 😀