This week we shared exciting news that Optoro has teamed up in an exclusive partnership with eBay, the global commerce leader, to create a first-of-its-kind Recommerce solution. Coming at a time of record unemployment and huge increases in excess inventory, this offering provides both retailers and eBay sellers with a streamlined resale experience to increase reselling speed.

For Optoro’s retail customers, this new offering leverages eBay and Optoro’s proprietary technologies to enable them to immediately sell excess and returned inventory on eBay through BULQ, our proprietary B2B channel. With record returns rates predicted as a result of the surge in ecommerce this holiday season, this solution provides a new, automated channel for retailers to resell these goods, both reducing waste and boosting their bottom lines.

In this week’s episode of the Returns Report, I joined Larisa Summers and Omar Elitreby, our General Manager of ReCommerce, to discuss why we created this solution and its impacts on the future of recommerce. 

How It Works

Through BULQ on eBay, sellers can seamlessly purchase and resell liquidation lots on the eBay marketplace. This includes returned and excess merchandise from some of the largest and best-known brands in the industry.

To understand how it works, once the lot is purchased, this first-of-its-kind solution allows sellers to efficiently pull product information from the lots and create individual listings to edit, review and publish directly to their eBay store. Thanks to the combination of our respective proprietary technologies, this process is now easier than ever before.

 

Benefits to eBay Sellers

There’s no question that this year has been tough; however, recommerce has supported gig economy sellers during a year of record unemployment. According to eBay’s Global Marketplace Index, 77% of eBay sellers in the U.S. agree that income from the marketplace has given them financial security; 48% said it helped them get out of debt, and 30% said marketplace income helped pay their mortgage. Many small businesses and sellers truly rely on eBay to support their operations.

That being said, this collaboration helps make the resale of sought-after merchandise from leading retail brands more convenient, streamlined, and accessible for all sellers looking to reach eBay’s millions of buyers. 

 

Benefits to Retailers

Retailers are already anticipating record return rates this holiday season, as online purchases can have three to five times the return rates of brick-and-mortar. This solution provides a new, automated channel for Optoro’s retail and brand customers to immediately resell this excess and returned inventory on eBay through BULQ®, Optoro’s proprietary B2B channel. This offering both reduces waste to meet sustainability targets and boosts their bottom lines.

 

Click here to read more about this exclusive partnership with eBay and discover Optoro’s recommerce solutions. You can also learn more about getting started, watch how it works, and shop BULQ® on eBay now.