Local marketplace OfferUp takes on eBay with launch of nationwide shipping

Local marketplace OfferUp takes on eBay with launch of nationwide shipping

OfferUp, the mobile marketplace for buying and selling locally, is expanding its sights beyond your neighborhood. Today, the company is announcing an expansion of its service that will now allow sellers to ship their items nationwide to interested buyers, potentially netting them a larger audience than if trying to sell only within their local community.

The feature to browse the items outside your area will appear in a separate “shipping” tab in the new version of the OfferUp app for iOS and Android, arriving today.

When sellers list an item, they’ll have the option to toggle on a switch to “sell & ship” nationwide. They then pick the item’s weight from the options that appear (up to 20 lbs). Items must also be under $500, and are shipped via USPS. Buyers are kept up-to-date on the item’s status through the app, as well.

Listing items for nationwide shipping is free. Sellers are paid after the item is sold, less a 7.9 percent fee, which goes to OfferUp. (This is less than eBay’s standard 10%).

The transaction fee represents a new revenue stream for OfferUp, which before had offered paid tools to promote items for sale, but not a cut of transactions.

The company declines to say how much it makes from its existing paid offerings and ads, or if it’s turning a profit. Likely it needs to enter into transactions like this, to grow its revenue and justify its $220 million in VC investment and unicorn valuation. (The Information reported in December it was having trouble raising, so it may have needed this new path to revenue.)

The move will also pit OfferUp in more direct competition with eBay, which it already outranks in the App Store’s Top Charts where it’s No. 3 to eBay’s No. 8 in the Shopping category. While eBay still has a much larger user base – 171 million globally active buyers, as of its most recent earnings for example – OfferUp has managed to grow to over 42 million uniques during the past 12 months, just here in the U.S.

Longer-term, OfferUp aims to go international and including a shipping feature would be the first step.

“We definitely have global ambitions as a company,” says OfferUp co-founder and CEO Nick Huzar. But, he cautions, “we want to feel like, as a company, that we’re in the right spot to do that. So we don’t have a date in mind to do that.”

The company claims to reach buyers and sellers across the country, and not just in urban metros. And it claims its buyers are interested in a range of products, as opposed to favoring those in a single category or two.

“I think that’s why people come back so often,” says Huzar, explaining why users will return to the app, on average, 2 or 3 times per day. While furniture is popular because it’s a local marketplace, he adds, OfferUp users browse all kinds of things – from electronics to clothing to baby needs and even cars.

“It’s not like Amazon where it’s very intent-based – where you know what you want. OfferUp is more discovery-based. You go in there and you kind of look around and you find that thing you didn’t think you wanted that you end up buying,” Huzar says.

The app has also grown in popularity because of its systems to make transactions more trusted than those on Craigslist, which has been one of OfferUp’s bigger competitors to date, along with Facebook’s Buy/Sell Groups. Users on OfferUp can optionally verify their identity with Driver’s License uploads, and/or by confirming their phone number, Facebook or email. Users can also rate transactions, and see sellers’ response rate to questions, among other things.

The shipping feature has been in testing for a few months prior to today’s nationwide launch across the 48 contiguous U.S. states. To gain access to the option, you’ll need to update to the latest version of the OfferUp app on iOS or Android.

Source: Mobile – Techcruch

eBay’s mobile app can now fill out your listings for you

eBay’s mobile app can now fill out your listings for you

Ebay is rolling out an app update designed to make it easier to list items for sale on its online marketplace. Instead of filling out detailed forms on your mobile phone’s small screen, you can now scan the barcode on the item in question or type a description, choose the item’s condition, then click “list your item” to make the listing go live on eBay’s site.

After scanning or entering the description, eBay’s app will do a one-to-one match to its catalog to help to fill in the necessary information for that product. It will also offer sellers a pre-populated stock photo, eBay’s price recommendation and its shipping recommendations,

The change is meant to reduce to a matter of seconds the number of steps it takes to list. And if the process is less cumbersome, eBay hopes more people will choose to sell on eBay as opposed to the growing number of resale apps like OfferUp or LetGo, which are currently ranking higher than eBay on Apple’s App Store.

Facebook’s Marketplace has also likely had some impact on eBay’s sales, especially in terms of local sales.

Despite the increased competition, eBay is still seeing more than 13.4 million listings added to its site every week from the eBay mobile app alone.

The app’s newfound ability to quickly list the item uses technology like structured data and predictive analytics to pre-populate listings with the information required, instead of relying on sellers to type it in themselves.

This use of technology is something the company believes is a competitive advantage over newcomers to the space, in addition to its ability to provide access to millions of shoppers around the world.

“At eBay, we’re dedicated to delivering a seamless and efficient selling experience for both first-time and seasoned sellers alike,” says Kelly Vincent, eBay’s VP of Consumer Selling Product & Engineering, in a statement about the app’s revamp.

“This latest update continues to leverage eBay’s structured data, which helps catalogue the 1.1+ billion items on the platform, to instantaneously populate product details, pricing and shipping information in the listing flow. Not only does the catalogue facilitate a superior listing experience, it enables buyers to easily find the great deals offered by our sellers,” she added.

Vincent also noted that eBay’s use of structured data and other new technology will make its way to other products and features this year, but didn’t say what those may be. However, the focus for now seems to be enabling sellers.

Ebay’s updated app with the barcode scanning feature for listings is rolling out now on both iOS and Android.

Source: Mobile – Techcruch

GoPro launches TradeUp program to swap old cameras for discounts

GoPro launches TradeUp program to swap old cameras for discounts
GoPro is willing to take that old digital camera stuffed in your junk drawer even if it’s not a GoPro. Through a program called TradeUp, the camera company will discount the GoPro H6 Black $50 and Fusion $100 when buyers trade-in any digital camera. The company tried this last year for 60 days, but as of right now, GoPro is saying this offer does not expire.
This offer works with any digital camera, including old GoPros. It clearly addresses something we noticed years ago — there’s often little reason to buy a new GoPro because their past products were so good.
GoPro tried this in 2017 for 60 days and says 12,000 customers took advantage of the program.
The service is reminiscent of what wireless carries do to encourage smartphone owners to buy new phones. It’s a clever solution, though other options could net more money. Users could sell their camera on eBay or use other trade-in programs. Best Buy lets buyers trade-in old cameras, too, and currently gives $60 for a GoPro Hero3+ Black and $55 for a HD Hero 960.
GoPro is in a tough position, and this is clearly a plan to spur sales. The company’s stock is trading around an all-time low after a brief upswing following a report that Chinese electronic maker Xiaomi was considering buying the company. The company also recently started licensing its camera technology and trimmed its product line, while introducing a new, $200 camera.

Source: Gadgets – techcrunch