ClickZ eBay Insights Newsletter - 09.19.2024

PLUS: Temu overtakes eBay as #2 e-commerce site and GraphEx revolutionizes ad targeting

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ClickZ
September 19, 2024 • Estimated Reading Time: 6 minutes

Specialty Bites 🍪

eBay's at it again, folks. This time, they're diving headfirst into the luxury apparel consignment game. If you're itching for some vintage Balenciaga, Prada, Gucci, or even Supreme, eBay's got you covered.

Launched this week, the program lets casual sellers offload their pre-loved designer duds with a little help from eBay's luxury experts. Think high-end photography, smart pricing, and a whole lot of hand-holding. The kicker? The higher the sale price, the smaller the cut eBay takes. It's a win-win for anyone looking to make a buck while being eco-friendly.

Fashionistas are already on board. In 2023 alone, eBay saw 22 preloved shirts, six pairs of jeans, and eight coats sold every minute across the U.S., U.K., and Germany. This new service just makes the whole process smoother, more profitable, and, let's face it, a lot more legit.

Eligible brands include Aim Leon Dore, Balenciaga, Gucci, Kith, Louis Vuitton, Prada, Stone Island, and Supreme.

Temu has overtaken eBay as the second most-visited e-commerce site, just two years after its launch. With nearly 700 million monthly visits, a quarter from the U.S., Temu trails only Amazon. The China-linked retailer is rapidly expanding into over 70 countries, setting a $60 billion sales goal for 2024.

EBay is pushing a judge to compel newsletter publishers, harassed by its employees, to reveal their sources. This move aims to counter a $12 million damages claim by the Steiners, who allege the harassment hindered their reporting. Seven former eBay workers have already pleaded guilty.

Wisdom Kaye curated eBay's Endless Runway at New York's Pre-Loved Fashion Week, showcasing vintage designer pieces. The event featured 28 looks, blending elevated street style with second-hand fashion. Shoppers could bid on items in real-time. The show emphasised sustainability and the "circle of life" for garments.

Kendrick Lamar's worn-out Nike Air Force 1s, featured in his new song's cover art, sold out on eBay hours after his Instagram post. Fans speculated about the symbolism behind the sneakers, linking them to his ongoing feud with Drake. Lamar's upcoming Super Bowl performance also sparked debates.

Ebay researchers introduced GraphEx, a graph-based method for keyphrase recommendation in e-commerce advertising. GraphEx excels in relevance, scalability, and efficiency, outperforming existing models. It balances popular and niche keyphrases, ensuring accurate, real-time recommendations. This innovation marks a significant advancement in targeted advertising for e-commerce platforms.

Performance Platters 🍽️

Fospha's latest report, "The State of E-Commerce H2 2024", reveals crucial trends that will shape your marketing strategy. What's inside:

 📱 How the major platforms' KPIs have trended in 2024, and where you should be investing. 

 🚀 How to access Paid Social's huge scaling potential. 

✨ The most effective Google channel of 2024.

🎯 Full-funnel strategies for Meta, TikTok and Snapchat

 Let's break down the platform-specific insights: 

  • TikTok: Emerging as a powerhouse for efficient new customer acquisition 

  • Meta: Maintaining strong performance with competitive CAC 

  • Snapchat: Experiencing rapid growth, particularly effective during peak shopping periods 

These findings underscore how impactful platforms like Meta, TikTok and Snapchat continue to be for driving sales - yet how underinvested they remain. It's incredible to see that brands can triple spend in Paid Social before becoming unprofitable. Success now lies in diversifying across the entire funnel, understanding the nuances of each platform, and continuously optimizing to unlock more scaling potential.

Jamie Bolton, VP Growth at Fospha

Shopify partners with Roblox to integrate in-game shopping, allowing brands to sell physical items directly within the game. This collaboration targets Roblox's 80 million daily users, with a full launch in 2025. Shopify's president highlights the endless possibilities, emphasizing the future of immersive commerce in the digital world.

WPP and Coca-Cola topped the 2024 Cannes Lions creative charts, with Coca-Cola winning 17 awards. WPP was named Creative Company of the Year. Heineken and Apple followed in the rankings. The United States was the most creative country. The LIONS Creativity Report highlights impactful creativity driving growth.

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