Don't Dismiss This Weird Business eBay Is Embracing
On the surface it seemed like little more than a courtesy notification -- a press release sent out to fill the silence on an otherwise slow news day in late October. But there may be far more than meets the eye to the new product category that online auction site eBay (NASDAQ: EBAY) is officially adding to its mix.
That new category? "Certified refurbished" electronics. The company is working with brands such as Dirt Devil, Cuisinart, iRobot, Philips, and Acer to facilitate the sale of like-new items to eBay shoppers. Prices for these goods (which come packed in their original boxes with all required accessories) are expected to be discounted up to 50% off their typical in-store price.
Up for grabs is a piece of the global refurbished electronics market that's worth around $10 billion per year, according to inventory liquidation specialist Liquidity Services (NASDAQ: LQDT). If the electronics sliver of the refurbished arena works out well enough, though, eBay could decide to widen its doors to other types of products among the $309 billion worth of goods that U.S. consumers alone returned to retailers in 2019.
Source Fool.com
