Resale retail is hot —particularly when it comes to sneakers.
In a move to dominate the multibillion-dollar sneaker-resale industry, eBay announced it is eliminating fees for North American sellers of any sneaker sold for $100 or more. Previously, the online retail marketplace charged fees of up to 10% for sellers.
The waived fee, which applies to sneakers sold in Men’s and Women’s Athletic Shoes, make eBay more competitive with other marketplace sites, such as Goat, that have fees depending on how long a seller has been transacting on the platforms.
According to eBay, it has sold nearly 6 million sneakers on its platform year-to-date in 2019. With an average of nearly 1.5 million daily live listings for sneakers, eliminating the fee is expected to grow eBay's selection of new, rare, and emerging styles across every price and time zone.
“As the originator of the sneaker resale game, eBay continues to be a top source for emerging and collectible styles, and with high demand, we want our sellers and buyers to get in on the action," said Jeff Chan, head of men's footwear and apparel, eBay. "For our community of diehard sneakerheads, eliminating selling fees allows them to turn their kicks into more cash to fund future purchases, and results in a more robust sneaker inventory for shoppers everywhere."