eBay brings sneaker authentication business in house
Online marketplace eBay is reportedly acquiring Sneaker Con Digital’s authentication unit to further invest in its sneaker business and differentiate itself from rivals.
Sneaker Con has been working with eBay to vet the sneakers being bought and sold on its platform.
Sneakers have become a large category on eBay, where over 1.9 million pairs are available on the platform daily.
Driving enthusiasts to its site across various high-end categories, including also handbags and watches etc, has been a key strategy of eBay, as such customers tend to spend more in other items as well.
The average sneaker buyer on eBay spends approximately US$2,000 in other goods on the platform, according to TechCrunch reports.
In October 2020, eBay launched an “Authenticity Guarantee” service in partnership with Sneaker Con, whose team of experts would verify the sneakers at no cost to sellers before shipping the items to help ensure buyers what they are purchasing are real. The service is available for sneakers over US$100 being sold on eBay.
The inspection system involves multiple checking points such as labels, stitching, logos, heel tabs, laces, and more.
“The response to our authentication offering has been overwhelming, and this acquisition allows us to continue to transform eBay and bring a higher level of trust and confidence to every transaction,” said Jordan Sweetnam, the SVP and general manager of eBay North America.
Meanwhile, Ebay also announced plans to offer 3D image capability on sneaker listings that would allow buyers to interact with a 360-degree view of the item they’re purchasing, as another means of boosting buyer confidence.
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