eBay appears to be putting its holiday marketing budget into its handful of focus categories as it runs another sale in luxury goods to attract big spenders. After recently funding coupons to encourage shoppers in luxury watches and fine jewelry, it kicked off a sale on designer handbags on Cyber Monday.
Shoppers can get 15% off on a handbag or wallet selling for at least $500. The coupon discount is capped at a maximum value of $250 for purchases $500-$1,999.99; $350 for purchases $2,000-$4,999.99; and $850 for purchases of $5,000 or more.
Last year, eBay disclosed its strategy of going after what it termed “high value buyers,” explaining to Wall Street analysts that was the reason for the 2% decline in the number of buyers to 159 million in the first half of 2021. eBay Chief Financial Officer Steve Priest said high value buyers represented 20% of eBay buyers and account for about 75% of GMV (sales), while “low value buyers” represented 50% of eBay buyers and account for about 5% of GMV. (At the end of September 2022, eBay had 135 million active buyers worldwide.)
eBay ran a 10% off sale on luxury watches from November 15 – 24, 2022, with a minimum spend of $2000 and the discount capped at $1,300 for the highest tranche. That was followed by its 10% off sale in fine jewelry November 22nd through November 28th with a $300 minimum purchase and a discount capped at $500.
eBay’s current high-end handbag sale runs from November 28th through December 4th, 2022. Be sure to read the details for terms and restrictions if tempted to spurge.