‘Certified Refurbished’ Offer Adds ‘Sweet Spot for EBay,’ Says CEO

EBay sees tens of billions of dollars of "untapped potential” in the global refurbished market through last week’s launch of its “new elevated experience for certified refurbished product” (see 2010210045), said CEO Jamie Iannone on a Q3 investor call Wednesday. Buyers can save up to 50% on branded, refurbished inventory compared with new goods, he said. EBay built in “assurances” to seed program adoption, including a two-year warranty, eBay money-back guarantee and “hassle-free, 30-day returns,” he said. “We are launching this program in partnership with globally recognized brands,” he said. “Not only does this program help with buyers’ budgets leading into the holiday season, it also helps to eliminate unnecessary waste by keeping products in circulation for many years to come.” Iannone thinks the program will expand the platform to many new buyers, he said: “It's a real sweet spot for eBay.”