With a new accelerator program that waives selling fees, eBay pledges up to $100 million in support of small business over the next two months.
As a result of the coronavirus pandemic, brick-and-mortar retailers are closing their physical doors, and economic data shows that half have only enough cash to survive for 27 days without new money coming in. In light of this situation, people everywhere are searching for ways to support the businesses in their community and beyond. Today, eBay is launching “Up & Running,” an accelerator program specifically designed to help retailers without an e-commerce presence transition to selling online, pledging up to $100 million in support for small businesses across North America.
“For the last 25 years, eBay has helped launch and grow hundreds of thousands of small businesses, and now we’ve created Up & Running to accelerate the start-up time frame for retailers opening online stores during these unprecedented times,” said Jordan Sweetnam, SVP eBay North America. “eBay was built on the simple premise that connecting buyers and sellers around the world creates economic opportunity, and this is exactly what we need to be doing – now more than ever.”
Through the program, eBay will give new businesses a free basic eBay store for three months – offering access to the marketplace’s 180+ million buyers around the world. With the new online storefront, eBay will waive selling fees for these new businesses, and allow them to sell up to 500 items for free. New eBay sellers will also receive the guidance and resources they need to run their business on eBay – including a suite of exclusive marketing and merchandising tools, customization features to build a brand, discounted shipping supplies and more.
In the wake of COVID-19, eBay mobilized a retail revival task force to help the 70% of small businesses who do not have any online presence – working quickly to consolidate and adapt the tools and resources these new sellers would need to be successful. Through Up & Running, eBay will provide educational webinars, individual support, and access to experienced sellers willing to mentor those who are new to eCommerce. In the coming weeks, the company will also highlight small business sellers on eBay.com, and provide new ways for shoppers to support their favorite local businesses while staying at home.