• Home
  • News
  • Retail
  • eBay UK to launch “Pay As You Grow” scheme

Retail

eBay UK to launch “Pay As You Grow” scheme

By Andrea Byrne

Oct 7, 2020

eBay UK has removed all fees for first time sellers for their first 100 sales each month as part of its new “Pay As You Grow” scheme for UK start-ups and small businesses.

Commenting on the offer, Murray Lambell, UK General Manager of eBay, said in a statement: “With all the economic challenges we’re seeing across the country, getting rid of the barriers to trading online will really help.

“We’ve specifically designed this offer for first-time sellers and start-ups, partly to help the growing numbers of unemployed to set up their own businesses and start making money.”

As well as no listing fees or final value fees charged for the first 100 sales each month, there will be discounted fees thereafter and businesses will only have to pay once their company starts to grow.

Fees will be reduced by 50 percent for the next 100 sales for first-time sellers and reduced by 25 percent for the 100 sales following that each month.

This scheme starts 9 October and will run until the end of the year.

eBay reports better than expected Q2 results

In Q2, eBay’s revenue was 2.9 billion dollars, up 18 percent on an as-reported basis and up 21 percent on a foreign exchange (FX) neutral basis. Its annual active buyers grew by 5 percent, making for a total of 182 million global active buyers.

“Our team’s focus on supporting small businesses and communities during a period of heightened need allowed us to re-engage our existing buyers and sellers while introducing approximately 8 million new customers to our platform during the quarter,” said Jamie Iannone, CEO of eBay Inc, in a statement.

Photo credit: ebay press room