eBay allows sellers to make offers to buyers in a few different ways, and the company said the feature, also known as "Seller Initiated Offers," was a success.
This month, Offer to Buyers reached a huge milestone and surpassed $1 billion in gross merchandise volume (GMV) since January 1, 2020, according to Harry Temkin and Parin Jogani in a blog post
eBay had already allowed buyers to reach out to sellers with Best Offer when it launched Make Offers to Buyers in 2019.
Sellers have shown tremendous enthusiasm for Offer to Buyers, the eBay pair wrote. "With the popularity of this feature among sellers, we began exploring additional updates which would make the tool even more useful. One update was the ability to counter-negotiate. More than 60% of offers have counters enabled, resulting in about a quarter of all Offer to Buyers transactions."
Sellers using the feature don't actually target any specific, known buyers - the offers reach shoppers that have signaled an interest in a seller's item but haven't yet purchased. Sellers can make offers on items shoppers have opted to watch, or they can make offers to items added to cart that have been there for at least 5 days.
Temkin and Jogani wrote, "We have taken multiple buyer interest signals (such as Abandoned Cart and Heavy Browse) and made them available to our sellers, enabling around 20% more listings to be eligible to send offers, and we're excited to continue implementing more such signals in the future."
There are some restrictions, including, as eBay explains in its help pages: "Not all listings are eligible. Eligibility is determined by a number of factors, including age of listing, listing format, and rules that manage the number of offers buyers receive."
One oddity of the feature is that once a listing has ended, eBay will only show the original Buy It Now price even if the buyer purchased the item from at a discounted price. (You can learn more about sending offers on this eBay help page
Are you as enthusiastic about Seller Initiated Offers as eBay is?