Six months after selecting the city of Wolverhampton for their Retail Revival programme in the UK, eBay announced that the partnership has delivered over £2 million in sales.
The 64 retailers who took part in the scheme have experienced an average growth of 36% in year-on-year revenue since joining in 2018.
What’s more, 46% of the participants are either expanding or planning to expand their physical presence, while 42% have recruited new members of staff.
Most importantly, 100% of them are reportedly feeling confident that their business can only get better with Retail Revival, which is an increase from 35% when the program was initially announced.
Participants in eBay’s 12-month programme are taught how to set up their online shops and given a comprehensive training programme that teaches them effective selling strategies, and the essentials of search engine optimization and social media marketing.
Helping small retailers expand online
The partnership between eBay and Wolverhampton came after Development Economics released the result of a survey which the eCommerce giant commissioned them to do.
The report showed that 25% of small retailers do not have an online presence to help them increase their sales, while about 71% said they had no plans of filling the digital gap in the future.
It further added that retailers can earn as much as £4.1 billion in sales revenue, which corresponds to £19,250 in additional revenue for each business, if they would consider expanding in cyberspace.
With the successful outcome of Retail Revival in Wolverhampton, Rob Hattrell, vice president of eBay Inc., has this to say:
“The past few years have been tough for UK retail, but it’s too simplistic to say that online shopping comes at the detriment of the high street. Our partnership with entrepreneurs in Wolverhampton shows what a combination of online and physical retail can achieve.”
Do you run a high-street shop or an eCommerce store or both? We hope to hear from you in the comments below.
As always, to your continued success,
Dave & Matt