eBay and Optoro Announce Exclusive Partnership to Streamline Resale of Returned & Excess Inventory, Support eBay Seller Commu...
November 19 2020 - 9:00AM
eBay, the global ecommerce leader that connects millions of buyers
and sellers, and Optoro, the leader in returns technology, today
announced an exclusive recommerce solution. Together, they enable
retailers to sell returned and excess inventory seamlessly on eBay,
and in turn provide an influx of high-demand wholesale inventory
for eBay sellers. The two companies leveraged their respective
proprietary technologies to make sourcing and reselling on eBay
faster and more seamless for sellers, thus accelerating the pace of
resale.
This offering not only supports gig economy sellers during a
year of record unemployment, but also unlocks a new resale channel
for Optoro’s retail and brand customers, enabling them to
immediately sell excess and returned inventory on eBay through
BULQ®, Optoro’s proprietary B2B channel. Retailers predict that the
growth of ecommerce will lead to record return rates, as online
purchases can have three to five times the return rates of
brick-and-mortar. This solution provides a new, automated channel
for retailers to resell these goods, both reducing waste and
boosting their bottom lines.
Through BULQ on eBay, sellers can seamlessly purchase and resell
liquidation lots on the eBay marketplace that include returned and
excess merchandise from some of the largest and best-known brands
in the industry. 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. The collaboration helps make
the resale of sought-after merchandise from leading retail brands
more convenient and accessible for sellers looking to reach eBay’s
millions of buyers.
“We created BULQ to solve an inventory problem for retailers and
the environment by connecting their returned and excess goods to
the many microentrepreneurs looking to make a better living as
resellers,” said Tobin Moore, CEO of Optoro. “As a result of store
closures during the pandemic and record ecommerce growth, many
retailers are now overloaded with such inventory and need even
better outlets. We are excited to partner with eBay to create this
more powerful joint BULQ offering that will both provide improved
liquidity to the retail industry while also supplying quality
inventory to the many individuals looking for ways to make ends
meet in the gig economy during these difficult times.”
Many small businesses and sellers rely on eBay to support their
operations. According to eBay’s Global Marketplace Index, 77
percent of eBay sellers in the U.S. agree that income from the
marketplace has given them financial security; 48 percent said it
helped them get out of debt, and 30 percent said marketplace income
helped pay their mortgage.
“eBay was founded 25 years ago on the promise of empowering
people and fostering economic opportunity,” said Marni Levine, Vice
President of Seller Operations and Engagement at eBay. “Now more
than ever, simple and effective ecommerce solutions are essential
for businesses of all sizes to grow and thrive. Everything we do at
eBay is with our customers in mind — and this BULQ partnership will
help transform our sellers’ experience with resale by making the
listing process easier and more streamlined. We’re excited by this
opportunity with BULQ and look forward to providing this resale
experience so our seller community can continue to flourish in
today’s global marketplace.”
For more information about the partnership, please visit
http://ebay.com/sourceinventory
About OptoroOptoro is the leading provider of
returns technology for retailers and brands, using data and
real-time decision making to make returns better for customers,
retailers, and the planet. From an easy online customer returns
portal, to warehouse processing and resale, Optoro offers one
unified platform to improve outcomes across all points in the
returns process. Retailers and brands — including Best Buy, IKEA,
Target, and Staples — trust Optoro’s solution to make returns a
strategic advantage for their business and enable sustainability
initiatives across their supply chain. Learn more about Optoro's
solutions at www.optoro.com.
About eBayeBay Inc. (Nasdaq: EBAY) is a global
commerce leader that connects millions of buyers and sellers in 190
markets around the world. We exist to enable economic opportunity
for individuals, entrepreneurs, businesses and organizations of all
sizes. The ebay.com marketplace and its localized counterparts, as
well as the eBay mobile apps, are among the world’s largest and
most vibrant marketplaces for discovering great value and unique
selection. For more information, visit ebayinc.com.
For press inquiries, please reach out to:
Jackson Budinger, optoro@launchsquad.comAshley Settle,
assettle@ebay.com
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