eBay Announces Inaugural 'Recommerce Day' to Celebrate Pre-Loved Shopping

Rhea-AI Summary

eBay (NASDAQ: EBAY) has announced its first-ever 'Recommerce Day' on May 21, 2024, coinciding with the release of its annual Recommerce Report. This report measures global consumer trends and sentiments towards second-hand shopping, with over 28,000 people surveyed. The day will include a takeover of the eBay homepage with deals, educational content, and an eBay Live program featuring pre-loved items. eBay partners with sustainability advocate Alicia Silverstone to highlight the benefits of recommerce. A resolution has been introduced in the California State Legislature to officially recognize May 21 as Recommerce Day, aiming to increase awareness and support for sustainable shopping practices.

Positive

• eBay's inaugural Recommerce Day aims to raise awareness about sustainable shopping.
• Partnership with Alicia Silverstone, a well-known sustainability advocate, adds credibility.
• The 2024 Recommerce Report indicates a growing trend towards pre-loved shopping, especially among younger generations.
• 70% of consumers surveyed plan to buy pre-loved goods this year.
• The event includes a live stream with opportunities to win refurbished prizes, engaging the community.
• Resolutions in the California State Legislature and the city of San Jose to recognize Recommerce Day may boost public interest and support.

Negative

• The press release does not provide specific financial data or expected revenue impacts from Recommerce Day.
• There are no details on the cost of the event or the partnership with Alicia Silverstone, which could affect profitability.
• Potential shareholder concerns about the focus on pre-loved items impacting new product sales.

Bill Introduced to Recognize May 21 as Recommerce Day in California, eBay Partnering with Award-Winning Sustainability Advocate Alicia Silverstone to Launch 2024 Recommerce Report

SAN JOSE, Calif., May 15, 2024 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, today announced its inaugural Recommerce Day, which will be recognized on May 21, 2024 and will coincide with the release of the annual eBay Recommerce Report. Now in its fourth year, the report has traditionally measured eBay seller and buyer insights and motivations around pre-loved shopping. This year, the company provides a broader understanding of the importance of recommerce not only to the eBay community, but to assess the overall trends and sentiment around recommerce at a global consumer level, surveying a combined total of more than 28,000 people globally.

Recommerce Day will feature a "takeover" of the eBay homepage with opportunities to learn more about recommerce, find great pre-loved deals, and participate in an eBay Live program featuring exclusively pre-loved items. Throughout the day, starting at 9am PT, there will be opportunities to win fantastic pre-loved and refurbished prizes during the eBay Live stream.

eBay is also partnering with award-winning actor and sustainability advocate Alicia Silverstone to further highlight the benefits of recommerce. Alicia is a passionate defender of the environment and has frequently shared her preference for shopping pre-loved to fuel a more conscious and sustainable lifestyle.

"I'm so excited that people are getting more involved in the circular economy – both buying and selling. I'm conscious about everything I buy and it's why I shop pre-loved on eBay," said sustainability advocate Alicia Silverstone. "Recommerce brings me so much joy because I know I'm not contributing to the waste that harms our planet."

"eBay has been a driving force behind recommerce, and we continue to invest in tools and technology that fuel the circular economy," said eBay CEO Jamie Iannone. "Our team is making it easier than ever to buy and sell used or refurbished items on the marketplace, and eBay's inaugural Recommerce Day aims to raise awareness about the benefits of shopping sustainably."

The 2024 Recommerce Report, which goes live on May 21, 2024, shows that consumers around the world – both current eBay customers and general consumers – are increasingly turning to shopping preloved to find unique items and great values. Consumers also recognized another important benefit to recommerce – it's good for the planet.

Pre-loved shopping has been steadily growing, with younger generations increasingly turning to it for more authentic shopping experiences. The Recommerce Report survey found that while almost three in five (59%) global consumers bought pre-loved goods in the last year, over 70% of consumers surveyed plan to buy pre-loved goods this year. Consumers aged 18-24 are most likely to have bought pre-loved goods in the last 12 months (65%).

A resolution was introduced in the California State Legislature by State Senator Dave Cortese to recognize May 21 as Recommerce Day. The city of San Jose, CA also has introduced a resolution declaring May 21 as Recommerce Day. These resolutions will help further increase interest in pre-loved shopping, increase the conversation around supporting sustainable practices, and remind people of the benefits for themselves and the environment.

About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

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SOURCE eBay Inc.

FAQ

What is eBay's Recommerce Day?

Recommerce Day is an event launched by eBay to promote sustainable shopping practices, scheduled for May 21, 2024.

When will eBay's Recommerce Day take place?

eBay's Recommerce Day will be held on May 21, 2024.

What will happen on eBay's Recommerce Day?

The event will feature a homepage takeover, educational content, deals on pre-loved items, and an eBay Live program with refurbished prizes.

Who is eBay partnering with for Recommerce Day?

eBay is partnering with sustainability advocate Alicia Silverstone.

What is the significance of the 2024 Recommerce Report?

The 2024 Recommerce Report provides insights into global consumer trends and sentiments towards second-hand shopping, with over 28,000 people surveyed.

How many consumers plan to buy pre-loved goods according to the 2024 Recommerce Report?

According to the report, over 70% of consumers surveyed plan to buy pre-loved goods this year.

What legislative actions are being taken to recognize Recommerce Day?

A resolution has been introduced in the California State Legislature and the city of San Jose to officially recognize May 21 as Recommerce Day.