Ecommerce boomed in 2020 as brick-and-mortar stores shuttered during the pandemic. With the consumer shift to online, retailers and resellers needed to keep a digital forward strategy to better manage and resell excess items. This shift underscores the importance of established resale platforms like BULQ (Optoro’s B2B marketplace) which has helped countless retailers and resellers as they moved their operations online.
Last Autumn, BULQ and eBay announced an exclusive partnership that has allowed retailers to sell excess goods seamlessly on eBay, all while providing an influx of high-demand wholesale inventory for eBay sellers. For resellers, the joint relisting tool has streamlined the process of sourcing + listing BULQ, accelerating the pace of resale while supporting micro-entrepreneurs looking for extra sources of income. We have been able to establish that, since launch, some 6,500 sales have taken place from BULQ on eBay and the results speak for themselves:
- BULQ achieved a 78% repeat purchase rate and 65% repeat customer rate in Q1 2021
- BULQ on eBay has achieved a 68% repeat purchase rate in Q1 2021 and sellers report saving about 50% of their time
- BULQ has grown it’s mobile app (only B2B resale platform with a mobile app) user base by 50% from 2019 to 2020
It’s always interesting to see how a marketplace can become not just a venue for selling but an active enabler of sales. eBay and BULQ do this by making product available which is relatively easy to list thanks to the joint relisting tool. Sadly BULQ isn’t available in the UK or EU, but if you’re based in North America and looking for a ready source of stock to sell then have a look at the official eBay BULQ shop.
“Sellers are at the core of eBay and our priority is expanding offerings to ensure we’re providing the best possible experience; that’s exactly what we achieved with our new sales channel together with BULQ. Access to economic opportunity is our founding principle, and it guides our partnerships and product roadmap. Especially in light of the last year, tools like this can have substantial impacts on sellers of all sizes who rely on online marketplaces to help supplement their business operations.”
– Ashish Chhabra, VP, Selling North America, eBay