eBay sellers have new resale opportunity
A new service called BULQ on eBay enables small sellers to purchase and resell excess inventory from large retailers.
Launched in partnership with end-to-end return platform Optoro, BULQ on eBay allows sellers to seamlessly purchase and resell liquidation lots on the eBay marketplace that include returned and excess merchandise from Optoro clients, such as Staples and Ikea.
Once a lot is purchased, the solution enables sellers to pull product information and create individual listings to edit, review and publish directly to their eBay store. eBay and Optoro are debuting this service as e-commerce return volumes increase – Salesforce predicts $280 billion in online purchases will be returned globally during the 2020 holiday season—30% of all purchases made. eBay invested in Optoro in February 2020.
eBay recently introduced another resale program, Certified Refurbished, which offers savings of up to 50% off on products that are guaranteed by their manufacturers to look, feel and work like new. The program features exclusive partnerships with manufacturers such as Dirt Devil, Hoover, Makita, Philips, and Razer.
“eBay was founded 25 years ago on the promise of empowering people and fostering economic opportunity,” said Marni Levine, VP of seller operations and engagement at eBay. “Now more than ever, simple and effective ecommerce solutions are essential for businesses of all sizes to grow and thrive. Everything we do at eBay is with our customers in mind — and this BULQ partnership will help transform our sellers’ experience with resale by making the listing process easier and more streamlined. We’re excited by this opportunity with BULQ and look forward to providing this resale experience so our seller community can continue to flourish in today’s global marketplace.”
“We created BULQ to solve an inventory problem for retailers and the environment by connecting their returned and excess goods to the many micro entrepreneurs looking to make a better living as resellers,” said Tobin Moore, CEO of Optoro. “As a result of store closures during the pandemic and record ecommerce growth, many retailers are now overloaded with such inventory and need even better outlets. We are excited to partner with eBay to create this more powerful joint BULQ offering that will both provide improved liquidity to the retail industry while also supplying quality inventory to the many individuals looking for ways to make ends meet in the gig economy during these difficult times.”