Ebay is the new high street

Online giant Ebay has now fostered more than 300 self-made millionaires. The website,

once famous for selling used goods, has been transformed from an auction house to a virtual high street. Almost 70 per cent of products are now sold at full price and the number is growing as more traditional retailers join in.

Many fashion retailers have their own Ebay stores or use the platform to sell out of season goods.

“The rules of the game have fundamentally changed,” says Gilmartin, Head of Ebay UK. “Just as it was important 15 years ago to have as many stores in the UK as possible and to be five minutes away from as many customers as possible, today it is incredibly important to be in front of as many customers as possible online and on mobile.”