How many sellers are closing their shops or running down their account in 2024?

We have been a seller on here over a couple of our accounts for many years now.   Over this time we have seen a reduction in sales from a max of £13k pcm to £60 pcm.    We have been through mass seller culls, more and more control over the seller/buyer relationship, the forcing of managed payments, increases in fees and requirements to use promoted/advanced promoted and now bid for clicks, to the point where ebay is taking an unsustainable percentage of profit.  

 

This in turn has lead to such search manipulation as to be virtually impossible for any of our listings to be shown unless we implemented all of the additional promotions, and even then since everyone is in the same boat, it makes little difference.   Search has been broken as a result of all this, and whereas in the past, if your product met the search terms, you could get your item to show, this is now not much short of a miracle!

 

Maybe you could argue some of it is the economy, but when your listings barely get any visibility unless you pay through the nose for it, it becomes a weak argument at best.

 

We have closed our shop and have halved our listings, and will be running down all of the stock we do have via other marketplaces.  

 

I'm just curious what other peoples plans are in 2024, are you bearing with ebay in the hopes of better times, or moving on?

 

 

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How many sellers are closing their shops or running down their account in 2024?

That's really not good when it comes to eBay selling especially with Apoldi82. If you sell exclusively on eBay at retail prices, it's going to be a bad time. 

So then it's all about predicted returns to get the true value of the stock. I could sit here all day long valuing the RRP of my stock at over £2 million but that's not a true value in terms of any expected return. It would be silly to expect anywhere near that amount for it. In some ways bragging the combined RRP is just like a my dad is bigger than yours scenario. 

It's all about looking at sales history and performance (accruals is best for that of course). Mine being something like selling 30k (the money I paid) of stock (with an RRP of about 110k) brings in 20k profits after fees, postage and all expenses. So that 2 million suddenly becomes a 600k investment with 400k profit.

Yes depending on the business and scenario, stock could be truly valued at full RRP, but eBay, nope. 

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How many sellers are closing their shops or running down their account in 2024?

You are confusing RRP (recommended retail price) with retail value. They are not the same. The retail value you place on your stock is the price you expect to get for it, not the value someone else thinks you should get for it.

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How many sellers are closing their shops or running down their account in 2024?

I'm not confusing anything?

 

I've heard it said in all sorts of ways. Retail value isn't an exclusive term for the price you expect to get for it. That's why I mentioned predicted returns (a more exclusive term). 

 

I've heard countless people, many of whom just general consumers saying "oh I got this item in the sales and it had a retail value of......".  It's either said as RRP or "retail value". RRP is a pretty exclusive term but yeah "retail value" could mean someone referring to the RRP but equally could refer to predicted returns. 

 

On this occasion with a glance at what the person is selling and the way it was worded, it seemed like they were refering to it as 60k retail value (as in RRP). To quote them:

 

"I had stock worth 60,000 retail value". That doesn't suggest to me they meant as in, 100k RRP or whatever that they predicted would sell for 60k but that indeed their stock was 60k at full RRP. 

 

Following that, the shoecupboard said, again to quote:

 

"As an accountant of over 40 years experience I have seen a number of companies that have valued their stock at retail value"

 

So that again clarifies that "retail value" seemed to be meant as in RRP and not predicted returns. 

 

 

 

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How many sellers are closing their shops or running down their account in 2024?

I'm sorry, but maybe there are companies out there that do that kind of thing.  It may make sense for certain types of business.  

But it most definately does not make sense for a retailer selling clothing on the likes of Ebay.

There are so many reasons why that valuation will be incorrect.

For that kind of value to be attributed to stock, it needs to be absolutely static and unmoving in price.

That will never happen on a marketplace, such as Ebay.  To value your stock that way, is frankly, insane.

If you valued your stock at retail value, you would effectively be inflating the value of your company, which in turn could lead to paying more tax etc.

 

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How many sellers are closing their shops or running down their account in 2024?

Just thought I would reply to the actual question being asked as the thread seems to have gone off into an amateur accountants twilight world, which as amusing as it is only makes me think of the saying that a little knowledge is a dangerous thing.

Perhaps the best way to answer the question is to first ask those that have left what their reasons for leaving were, and having been on the platform for twenty years I have had the chance to do so.  The reasons can be varied from 'it is to complex to list now', 'it is to time consuming', 'it is to expensive, the fees are to high', 'no seller support particularly from vindictive buyers', 'promoted listings have killed it', and 'the search system doesn't work properly'.

The one common factor is that these are all ebay created issues.

When I look at the sales patterns over my time on ebay there were always patterns even during the financial crisis between 2008 and 2010 and over the next five years when the austerity measures were brought in (people bought boots in winter and sandals in summer as they do now). Those patterns now are erratic, and have become so since promoted listings came into operation.

I just wonder whether the way the system handles these as induced what in known as the law of unforseen consequences and changed how ebay functions. Perhaps the quote of 'Something is rotten in the state of Denmark' might be pertinent.

Whatever the reason I know that I will be leaving over the next year as the balance of my stock goes and I can only hope that the new sellers have some success. I was told by an ebay custoner services advisor about 15 years ago that to sell on ebay you have to put up with a lot of *bleep*, how right he was!

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How many sellers are closing their shops or running down their account in 2024?

Since eBay is stopping the use of Nectar points to pay for items from 1 Sep 2024. I will be closing my account and going elsewhere. EBay is overpriced at the best of times but the use of Nectar points made it beneficial. Now they are stopping using Nectar points to pay for items it's not worth using them any more.  I will go to other retailers who do allow the use of Nectar points. I will also contact all the sellers on ebay, I have bought from and tell them why I won't be buying from them again.

Well done eBay.

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How many sellers are closing their shops or running down their account in 2024?

Ok so with all due respect.....

 

You are boycotting eBay because they are no longer in direct partnership with nectar. 

 

Can you elaborate on what this has to do with sellers/businesses closing down this year?

 

I'll answer that myself....nothing. No more nectar points automatically for people like yourself, ok, bad, but no use spamming unrelated posts. Go and complain direct to nectar if you must. 

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How many sellers are closing their shops or running down their account in 2024?

Couldnt agree more, we've been selling on eBay for 20 years now and with the introduction of promted listings this has all but cancelled any profit we were making, our eBay bill for the last year more than doubled from the year before, we are looking at carrying on until christmas but if things dont imporove we'll have no choice but to close the shop and sell elswhere, its not like ebay havent been warned, we've reported this many times. There is always someone new to take your place so they are not bothered.

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How many sellers are closing their shops or running down their account in 2024?

They are not only making it difficult for the sellers, they are now making it very difficult for the buyers with the removal of the Nectar vouchers to pay the sellers. It is like they are intentionally trying to get rid of both sellers and buyers. It's insane.

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How many sellers are closing their shops or running down their account in 2024?

Has ebay dumped nectar or the other way round? I haven't seen anything to say who pulled out the deal and why.

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How many sellers are closing their shops or running down their account in 2024?

EBay has removed the "pay by Nectar voucher" option form the site. You still earn Nectar points when buying items, so it is eBay being greedy.

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How many sellers are closing their shops or running down their account in 2024?

It's Nectar that did the dumping and not Ebay.

 

Though I really don't get the problem with this, I would be willing to bet that it's really not effected that many people.

 

@chrbac.uye5b7   Really don't understand why your still posting?  Back in July you said you were leaving, yet your still here.  If your really that upset with Nectar going, you need to complain to Nectar and not Ebay, as it was them!

 

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How many sellers are closing their shops or running down their account in 2024?

From the Daily Mirror:

 

Nectar has announced a huge change that affects anyone who collects points with Ebay.

As of September 1, you won’t be able to collect or spend Nectar points directly on the eBay website. However, you will still be able to collect Nectar points on your eBay transactions when you shop through Nectar. To do this, you’ll need to search for eBay on the Nectar app or website, then click on this to go through to the eBay website or app to make your purchase.

 

But the good news is, you’ll now collect two Nectar points for every £1 spent at eBay - up from the current rate of one Nectar point. Any vouchers that you have already created on eBay before August 31 will remain valid on eBay until their expiration date. Nectar emailed customers this week to notify them about the eBay change.

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How many sellers are closing their shops or running down their account in 2024?

Nectar has announced nothing to anybody. Sainsbury's have confirmed that changes have taken place to eBay but they have not announced a source for the information.  Ebay have declared the changes on their website. Stop believing in the MSM and follow the facts.

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How many sellers are closing their shops or running down their account in 2024?

eBay drops Nectar – no more redeeming, no more double-dipping on earning

 

EBay announces Nectar points shake-up: What this means for your account

 

 

It is eBay that has shut down user's Nectar card links to their site, not the other way around. Nectar is still paying you points for using them.

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How many sellers are closing their shops or running down their account in 2024?

Believe what you wish.  I prefer to believe more logical and verifiable news sources.

 

But your still here and still using Ebay, despite your protestations otherwise.

 

 

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How many sellers are closing their shops or running down their account in 2024?

Let me spell it out for you since you clearly didn’t get it the first time. I don’t use eBay anymore, but they still keep your data. I’ve already explained this, yet here I am, repeating myself

 

 

Here’s a basic question you should consider: Who sent out the original email about the changes with Nectar vouchers? It wasn’t Nectar; it was eBay. Just so you know—because clearly, you need all the help you can get—eBay sent a seven-week warning about big changes to how Nectar points are collected. They even said it was an 'important update' in their email about the eBay-Nectar partnership. Seven-week warning as eBay to make big Nectar points change

Nectar members have been warned of an upcoming change to how they collect points while shopping on eBay. In an email sent to users, eBay said they were making an 'important update' on eBay's Nectar partnership.

 

 

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How many sellers are closing their shops or running down their account in 2024?

I linked my Sainsbury's Nectar Card to ebay years ago.  It was a handy way to add a bit to my Collecting Fund if funds were low.  Neither Nectar or Sainsbury's have contacted me about this change, my only info. has come from ebay's announcement.

 

I assumed it was Nectar who had initiated the change mainly because of the info. about how to use the Nectar app. to continue using them on ebay.  I just thought it was Nectar's way of pushing me towards their app. so they could start sending me their ads, putting cookies and trackers on my account and probably getting more of my data (?).

 

To me the occasional voucher to spend on ebay has been a bonus and having my card un-linked doesn't concern me at all, I'll just revert to using the points to pay for groceries.  It won't affect what I buy on ebay at all.

 

I don't think it will have any great effect on ebay shopping for most buyers, at the rate I collect points on groceries and petrol it just doesn't make that much difference. 

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How many sellers are closing their shops or running down their account in 2024?

"I don't think it will have any great effect on ebay shopping for most buyers, at the rate I collect points on groceries and petrol it just doesn't make that much difference. "

 

Which was exactly my point in the first place.

 

What obviously hasn't sunk in above, is that you actually earn more points now using Ebay, than you did previously.

 

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How many sellers are closing their shops or running down their account in 2024?

@chrbac.uye5b7   This may help, it was was in the body of an email I was sent by Nectar on 8th July:

 

---------------------------

 

From the 1st of September, the way you collect and spend Nectar points with eBay is changing.

You will no longer be able to collect or spend Nectar points directly on the eBay website or app, and your Nectar and eBay accounts will be unlinked.

However, you will be able to collect Nectar points on your eBay transactions when you shop via Nectar. Simply search for eBay on the Nectar app or website and click out to the eBay website or app to make your purchase. And the good news is you will be able to collect 2pts for every £1 spent at eBay (instead of the current 1pt per £1)*. Head to https://www.nectar.com/eshops to find out more.

Any vouchers that you have already created on eBay before 31st August will remain valid on eBay until their expiration. Any points you have collected will remain in your Nectar account ready for you to spend on the things you’d like from our other partners like Sainsbury’s, Argos, Esso, British Airways and many more.

For any questions, please see FAQs here.

In the meantime, you can keep collecting and spending Nectar points at eBay.

To get the most out of Nectar, download the Nectar app.

Thanks,
The Nectar Team

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