Number Of New eBay Millionaires Soars 35% In The Last 12 Months

eBay UK today reveals the number of new, self-made millionaires on the platform has risen by 35% in the last 12 months as British entrepreneurialism continues to thrive despite challenging trading conditions prompted by the pandemic. 

The data also reveals the “eBay millionaire capitals” across the UK - the cities that have created the most eBay millionaires in the last 12 months. While London tops the list with 52 new eBay millionaires coming out of the capital last year, cities in the North and Midlands dominate the top ten list.  The top ten eBay millionaire capitals include:

1. London (52 new millionaires)

2. Manchester (36 new millionaires)

3. Birmingham (35 new millionaires)

4. Leeds (14 new millionaires) 

5. Bradford (13 new millionaires)

6. Leicester (12 new millionaires)

7. Rochdale (11 new millionaires)

8. Glasgow (10 new millionaires)

9. Bolton (9 new millionaires)

10. Oldham (8 new millionaires)

         = Nottingham

         = Halifax 

When it comes to the most lucrative product categories for eBay entrepreneurs, the top ten list reflects consumer spending trends of our “new normal”, including a rise in the number of Brits taking on home DIY projects and working remotely, as well as a boom in Brits getting in shape and recreating salon experiences from home.  The top ten categories for eBay millionaires include:

1. Home, Furniture & DIY

2. Vehicle Parts & Accessories  

3. Clothes, Shoes & Accessories

4. Business, Office & Industrial

5. Health & Beauty

6. Sporting Goods

7. Garden & Patio

8. Computers/Tablets & Networking

9. Mobile Phones & Communication 

10. Sound & Vision (e.g. TVs, smart glasses, speakers)

Mike Dixon, founder of HugglePets and eBay millionaire added: “I started Hugglepets with my dad eight years ago on eBay. What started out as a small business has now grown to an 18-person operation and a huge warehouse full of stock. Following the success of our online business, we have even managed to open a bricks and mortar shop on the high street. Hitting the million-pound turnover milestonewas a huge moment for us and I’m proud of our team for continuing to operate in the pandemic, too. The coronavirus pandemic actually gave our business a boost, as customers had more time to research and invest in new products for their pets.” 

Janine Dutton, founder of Belle Lingerie and eBay millionaire commented: “I started out selling everything I could on eBay, but realised that the swimwear and underwear I offered was much more popular than anything else. I decided to set up Belle Lingerie while raising my three children, with my dad initially helping out by packing and posting items to be shipped.  Today we employ 20 permanent staff and our turnover is in the millions. It’s fair to say that the pandemic did affect us, but where we lost sales in categories such as swimwear, we saw a huge growth in athleisure and loungewear, which overall helped our business thrive. “

Mubin Ahmed, founder of AwesomeBooks and eBay millionaire said: “We started our business, AwesomeBooks, after realising that many books from charity shops end up going to waste due to the sheer volume of donations they receive. We spotted an opportunity to start a business selling second-hand books, while also giving charities well-needed funds to take stock off their hands. AwesomeBooks has grown immensely over the last 17 years, and we now ship 6,000 books per day through our eBay store. From small beginnings, our turnover is now expected to reach £25m this year. Lockdown meant that sales of our books went through the roof. It seems like our customers used their spare time to read their “bucket list books” and find sources of entertainment for children.”

As the cost of Covid-19 on businesses is fully realised and the UK prepares to enter into a recession in the coming months, eBay predicts growing economic uncertainty will create a new wave of “post-pandemic entrepreneurs”.

Murray Lambell, UK General Manager, eBay said: “The uplift in new self-made millionaires on eBay proves that Britain’s entrepreneurial spirit is alive and kicking, despite the challenging economic times we are facing. The pandemic has certainly hit business hard, but it has also shown that entrepreneurs are cut from a different cloth and can turn a crisis into an opportunity, making millions in the process. It is these forward-thinking small businesses who will help power the UK’s economic recovery and thrive in the long term.  That’s why eBay is committed to providing a platform for these side-hustlers, lockdown start-ups and entrepreneurs, helping to deliver growth for the economy and communities across the UK.” 

This data follows a 256%** rise in the number of new businesses registering to sell on eBay UK during the lockdown, as more individuals used the increase in downtime and being furloughed from their usual employment to create new business ventures or to turn their side hustles into full-time jobs.

Earlier this month, eBay UK launched "Pay As You Grow", a new scheme that sees fees removed for any first-time business sellers on the platform until they have made over 100 sales in a single month, and reduced fees thereafter each month. The scheme, running until the end of the year, is inspired by the UK Government policy of loan repayments and designed to give an entrepreneurial helping hand to the growing numbers of unemployed across Britain. This builds on eBay’s continued efforts to support small businesses throughout the COVID-19 crisis, following a wide range of seller support policies brought in since the start of the pandemic.

Source : eBay

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