eBay to Open "Hard to Find" Holiday Gift Shops

Rhea-AI Summary

eBay is launching 'Hard to Find Gift Shops' in Detroit, Miami, and Houston to offer sought-after holiday gifts starting from November 19. These shops will feature exclusive items in categories like sneakers, collectibles, and luxury goods, making shopping easier amid stock shortages reported by 70% of millennial and Gen Z shoppers. The sneaker shop in Detroit will highlight top styles, the collectibles shop in Houston will focus on trading cards, and the luxury shop in Miami will showcase iconic designer brands. For shoppers outside these cities, items are available online at ebay.com/hardtofindshop.

Positive

• Rapid growth in eBay's sneaker business, with purchases occurring every 4 seconds.
• The luxury watch segment has shown double-digit growth; the most expensive watch sold was $230,000.
• Strong demand for luxury handbags with sales from top brands up 4% year-over-year.

Negative

• Market challenges highlighted by 70% of millennials and Gen Z reporting stock shortages.
• Potential revenue impact due to the limited physical presence of the gift shops.

SAN JOSE, Calif., Nov. 17, 2021 /PRNewswire/ -- With the perfect holiday gifts more out of reach than ever, eBay is hooking up shoppers with the season's most sought after items through its Hard to Find Gift Shops. The new storefronts will pop up in select locations across the country - Detroit, Miami and Houston - beginning on November 19.

The Hard to Find Gift Shops will be just that - hard to find. Open to the most resourceful customers, a helpful location hint will be shared on eBay's social channels the day before the shop launches, with the final location being revealed 24 hours later.

"This holiday season will put even the most serious shoppers to the test, but eBay was made for moments like this," said Jordan Sweetnam, SVP and General Manager, eBay North America. "We created the Hard to Find Shops to bring our unmatched selection to life - from the rare and coveted to the sold-out-everywhere-else. The experience mirrors the impossibility shoppers are facing this year - and reminds them that eBay has something for everyone on their list."  

Each shop will focus on one hot holiday category and will be brimming with gifts for enthusiasts:

• The Hard to Find Sneaker Shop | Detroit, November 19 - 20
  Sneaker collector and seller Jaysse Lopez, Urban Necessities, brings his diverse collection of today's top styles to the shop. The event will also feature a rare display of all 50 pairs of the Off-White x Nike Dunk Low collection.  
• The Hard to Find Collectibles Shop | Houston, December 3 - 4
  In partnership with top eBay sellers, including two from Houston, the shop will be stacked with high value trading cards, collectibles and memorabilia.
• The Hard to Find Luxury Shop | Miami, December 10 - 11
  Find iconic Hermès Birkin and Kelly bags, Gucci's Psychedelic and Floral Collections, and rare timepieces from Richard Mille, Audemar Piguet, Rolex and more. 

Shoppers outside of these three cities are not out of luck, and can score the same inventory at ebay.com/hardtofindshop.  

This season, in particular, shopping early doesn't guarantee finding everything on one's gift list. A recent study found that 70 percent of millennial and Gen Z adults who have started their holiday shopping have reported that a product they wanted to purchase in a store was out of stock. One-third of those shoppers say this has happened multiple times as they've begun their holiday shopping¹.

For more of the season's hard to find gifts in these top categories, visit ebay.com and follow @eBay on social media.

By the Numbers

Sneakers:

• eBay's sneakers business in the US continues to grow at healthy double digit rates.
• 15 pairs of sneakers are purchased every minute. That's one pair every 4 seconds.
• The top 3 most popular sneaker brands on eBay in 2021 are Nike, Adidas and Yeezy (based on number of items sold).
• An average buyer who purchased a $100 pair of sneakers spent $500 in sneakers and $2,000 in other categories.

Watches:

• Luxury watches on eBay continue to grow at double digit rates.
• The average luxury watch buyer who purchased a $2,000+ watch spent over $9,000 in watches and $8,000 on more than 50 items in other categories.
• The most expensive luxury watch sale on eBay in 2021 was a Patek Phillipe Grand Complications Nautilus which sold for $230,000.
• Top 3 most popular watch brands on eBay in 2021 are Rolex, Omega, & Gucci (based on number of items sold)

Handbags:

• Since launching Authenticity Guarantee for luxury handbags in June, growth has significantly accelerated.
• The average handbags buyer who purchased a $500+ handbag spent over $2,000 in handbags and over $5,000 in other categories
• Purchases of luxury handbags from top designers and brands like Dior, Chanel, Gucci and Prada are up 4% year over year.
• The most expensive handbag sale on eBay in 2021 was an Hermes Ostrich Birkin in Beige which sold for more than 60,000 USD.

Trading Cards & Collectibles:

• eBay's Trading Cards category is growing significantly faster than the total marketplace.
• In the first half of 2021, Trading Cards hit $2 billion in transactions - equal to all of 2020 and a 175% increase year over year.
• In 2020 in the US, a sports trading card is purchased every second.
• There are an average of over 318 collectibles listed per minute on eBay.

About eBay
eBay Inc. (NASDAQ: EBAY) is a global commerce leader that connects millions of buyers and sellers in more than 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. 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 2020, eBay enabled over $85 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

1 "Early Bird Holiday Shoppers Are Already Reporting Supply Chain Challenges," Morning Consult, October 2021.

 

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SOURCE eBay Inc.

FAQ

What are eBay's Hard to Find Gift Shops?

They are temporary shops in Detroit, Miami, and Houston offering exclusive holiday gifts.

When do eBay's Hard to Find Gift Shops open?

The shops open starting November 19, 2021, with specific locations revealed shortly before their opening.

What types of products can shoppers find at eBay's Hard to Find Shops?

Shoppers can find sneakers, collectibles, luxury handbags, and more.

How does eBay address stock shortages this holiday season?

eBay's initiative aims to provide hard-to-find items amid reported stock shortages affecting many shoppers.

What is the impact of eBay's Hard to Find Gift Shops on its stock (EBAY)?

While it showcases products, there are concerns about revenue implications from the limited shop locations.