eBay just made a big move to help it dominate the multibillion-dollar sneaker-resale industry.
For the first time, the e-commerce site is eliminating fees for North American sellers on any sneaker sold for $100 or more, it announced on Tuesday. It previously charged fees of up to 10% for sellers, deterring some sneakerheads from using the platform.
The move is an effort to further break into the global sneaker-resale market, which a recent Cowen & Co. analysts estimated could be worth $6 billion by 2025. Nearly 6 million sneakers were sold on eBay in 2019, according to eBay’s sales data.
*eBay is eliminating North American seller fees for any sneaker sold at $100 or more, the company announced on Tuesday.
*The e-commerce company previously charged fees of up to 10% for sellers, deterring some sneakerheads from using the platform.
eBay also said it had partnered with the sneaker-resale marketplace Stadium Goods and would launch a series of sneaker drops this week.
*”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,” eBay’s head of men’s footwear and apparel, Jeff Chan, said in a press release.
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