eBay CEO Jamie Iannone revealed his strategy on Tuesday for a “technology-led reimagination of eBay.” Unlike recent predecessors, the new CEO is placing importance on “consumer sellers” – those who may sell on eBay to buy on eBay.
In a call with Wall Street analysts to discuss second-quarter earnings, he found fault with previous management. “The reality is, that in the past few years, we’ve not executed to our full potential,” he said. “New competitors have taken share, because we neglected our core area of expertise.”
He said eBay focused on new areas that did not drive sustainable or profitable growth – “and to be candid,” he said, “we did not adapt quickly enough to the rapidly changing needs of our customers.”
However, that leaves eBay with “enormous, untapped potential that we absolutely must capitalize on,” he said.
Iannone outlined three key priorities needed to execute on the vision:
1) Build compelling next-gen experiences for eBay enthusiasts.
2) Become the partner of choice for sellers.
3) Cultivate lifelong trusted buyer relationships.
The first priority involves focusing on consumer selling and vertical experiences.
To lead in consumer selling, Iannone intends to focus on the following:
- Simplify the listing flow.
- Increase conversions to grow the number of consumer selling enthusiasts.
- Make it easier for sellers to reinvest the proceeds of sales back into things they need, want, and love on eBay.
And when it comes to vertical experiences (i.e., categories), eBay will focus on non new in-season products, where people with common interests and passions connect, not just to buy and sell merchandise.
Iannone also said a key focus over the next couple years would be Gen Y customers.
eBay to Enhance Store Features in Native App
Ianonne said he believes it’s important to make it easier for sellers to register for the site and give them more tools. He also wants to enhance eBay’s Stores products by bringing it into the native app. “I’ll be honest with you though, I think we have a lot more work to do in areas like that.”
The second pillar of his strategy – being the partner of choice for sellers – will be a huge focus for eBay, he said.
Legacy Technology
Iannone said eBay would focus on using technology to help attract buyers and sellers, and said eBay has a world-class technology team and has been building up a next-gen technology group.
“To be candid, though,” he said, “there are areas where we have to get off of old legacy technologies,” a task that is in progress.
While Iannone eschewed the term “three-year turnaround” used by previous CEOs, he did say his vision would take the company on a “multi-year journey.”
At one point, the eBay CEO told Wall Street analysts on the call, “Put simply, our vision is to build on the company’s powerful strengths to become the best global marketplace for buyers and sellers through a tech-led reimagination of eBay.”
You can find more information about eBay’s second-quarter performance on the EcommerceBytes Blog.
Technology at Fleabay is non existent. Ebay trust is even more non existent. Ebay has none of either and won’t for many many years to come. They have screwed the sellers and buyers for their own greed. Why would anyone now ever trust them. Hell they are so arrogant that they don’t even fix the problems that plague their site now.
Partner ?
We don’t need a partner.
We need a selling venue that DOESN’T go in to Mission Creep Mode.
The idea we need a “partner” is WRONG.
Stop with the rozi cozi junk and just BE A VENUE.
Is it So DIFFICULT to just be a CONDUIT ?
Must the venue Also be an ATTENTION WHORE ?
STOP IT !
After selling — and shipping — thousands of items on eBay over fifteen years, I am stymied by eCrater’s shipping. Can anyone help me get set up for shipping with eCrater?
I signed up with eCrater over a year ago and finally gave up because of the shipping.
For the past few days, I’ve been trying again to list there, but again stymied by the shipping.
I’ve sent messages on the seller sites and read some blogs, but somehow it’s Greek to me. I am not alone. Most of the questions I’ve seen on the seller boards are about shipping. I have two degrees in sciences and do home repairs, etc., so I am usually good at reading directions, but the eCrater shipping is somehow tripping me up.
Most of the items I ship weigh less than one pound. I have the chart for converting ounces to decimals. On eBay I would just put in the weight and the box size and choose calculate shipping (or use flat rate or free shipping) and be done. But not on eCrater.
I really want to move from eBay, though. So, can anyone suggest how I can cope with eCrater’s shipping and get started selling there?
Thanks for any suggestions!
— BJ and LO at The Cluttered Loft
Nothing ebay really did except giving 50K free listings, sales were up in all selling venues, any up grades to their to their site or seller’s hub just made it harder to use. Sale’s were only up because everyone was stuck at home, 3rd quarter will crash because their only offering free listings in “select categories”. Worst yet I got stuck in MP last week, 2 days to figure out, 2-5 days for payouts and another day and half to get to bank. Plus now I have to hire a book keeper to set up an excel program so I can report my taxes because ebay still hasn’t set up a simple summary of expense’s. Not everyone is computer savvy
(In the voice of Randy Macho Man Savage) :
Ooooo YA !
eCrater is the venue.
So…..under the radar…….
So far about 300 interactions a month and sales are ramping up :o)
eCrater. It’s EVERYTHING you ever wanted Ebay to be.
blah blah blah. 3rd quarter will crash back to previous numbers
feecebay will continue to treat sellers (listers) like dirt
they will still hav a non extent tech team
just more of the same nonsense on fleecebay.
Ebay still does not understand no one shops via UPC codes, or MPN, or all that other nonsense in item specifics. Mercari only asks for the manufacturer, no UPC code, no other item specifics and is growing exponentially. Oh and Jamie Iannone, no 30 day returns, no charge FVFs on shipping and sales tax.
I have been wanting to ask this for a while and couldn’t find the help even after several exhaustive back-and-forth “chats” and emails with Mercari’s bots. I have been trying to buy some items on Mercari but the site absolutely would not let me pay with PayPal. In fact, no PayPal link would ever show up anywhere. All their bot instructions just regurgitate themselves saying to TAP THIS, TAP THAT. The whole platform doesn’t even care about desktop users. It’s their loss because as much as I don’t like eBay, I will probably end up buying these items on it. Maybe you can walk me through setting up PayPal with Mercari? Much thanks.
Hey eBay, and we all know you read these blogs at this point, how about an amnesty for banned sellers? The banning has been so arbitrary and heavy handed for years and years that there is an entire market for purchasing stealth accounts just to get on and sell again. You should look at both defects and feedback for all banned users and reinstate any that meet a high standard. I had a 99.6% feedback and a .02% defect rate and was banned as a million dollar seller. No recourse. I paid you over two hundred thousand dollars a year. We both lost revenue. I know countless other sellers that would qualify for the above suggested criteria that would bump my numbers to 8 or 9 figures in revenue for you, easily. Do the right thing.
Talk is cheap. You want to bring back casual sellers. Promote auctions again, no fee for a reserve. Make sure they are seen in search. I dont do auctions, and never did but I think they lost a lot of casual sellers / buyers
by discouraging auctions.
Now is the time to start working on it. Unless things change, in 6-8 months people will not have the money they have now to spend, and will be looking for a bargain, or for extra money to make.
Stop discouraging calculated shipping. It was a good way to save buyers money if they bought 5-6 items from you. Now, why buy each one ebay (with inflated prices), when you get get it at that price on Amazon …the next day. How are you competing? Yes, ebay will not make more money at first, but this attracts buyers.
“1) Build compelling next-gen experiences for eBay enthusiasts.
2) Become the partner of choice for sellers.
3) Cultivate lifelong trusted buyer relationships.”
1) theres nothing “next gen” about eBay, period
a) theft, abuse and coercion have been around for the last 5000 yrs
b) theres no next gen tech either – the site and its functions are circa 1999
c) except for a few people here, and another few scattered around the world – there are no eBay enthusiasts – the people YOU THINK like eBay are just there for the money. Those people (myself included) who used to be loyal to eBay – quit that behavior A LONG TIME AGO – when you went to war with us small sellers
2) you cant be a REAL partner simply because you dont know how.
a) stop the aforementioned war against sellers
b) stop lieing to sellers about each and every facet on the platform
c) stop forcing sellers into things they dont want or need
d) stop stealing from sellers at every chance you get
e) stop creating policies and “agreements” that are really just hidden “seller killers”
3) You are already doing that now, by letting buyers do what they want, when they want 24/7/365
a) if you (eBay) think that 30 days is the right terms for returns – they YOU do it – dont force sellers into your schemes
b) make buyers responsible for their behaviors
c) make them understand that sellers are people too – with real lives
Iannone doesnt have any new clothes – hes the same yoyo as the last one – just alot less slick.
Who knows about Iannone. Maybe he has good intentions, but the stockholders always get in the way. Returns now not later is the problem….unless you have track record, and right now ebay doesnt.
Ebay is on the edge of the arctic circle trying to sell ice. Along comes amazon selling heaters???? People want what they want and what they need. You cant tell them what they want and need. And things always get to the point of where it is a deal breaker, and people walk. The market dictates wants and needs, if you dont follow you loose. Hopefully the new CEO doesnt have the ivy league syndrome (I went xx university so I must be right). And is able to use critical thinking, and basic logic to make decisions rather than it came out of my head, so it must be right. Sellers, and even buyers told them years a go what they were doing wrong. They just didnt listen. Ended up those sellers and buyers were right. Maybe? Maybe now they’ll listen??? They will never be able to catch up to amazon. But maybe they will be able to maintain what they have, grow a little, and be able to stop these smaller venues from picking their bones. But if they dont give buyers and sellers what they want sooner or later it will be over.
PayPal (PYPL) Soars to All-Time High on Blowout Quarter
Now you can bet Mangled payments is eBay’s attempt to outdo PayPal. Well isn’t that sweet. They use an overseas company, an intermediary company, because they can’t figure out how to set things up. Are completely secretive about anything to do with the program, because they’ve manipulated it for their immoral gain.
No different that trying to beat Amazon. You cannot beat PayPal either. You’ll prove once again what an inadequate, inept, immoral, imposter of a business you really are. Let me go further to say that your ignorance and indifference to your CUSTOMERS, your sellers, is an ignominious defeat.
Last I? You are all certified idiots.
CanBrit:
Amen!!
eBay is forgetting who there actual customer is. We the sellers are there customer. We are the ones that pay the final value fees each and every month. We are the ones that they make there income from. Without out material they have no sales.
I don’t have a clue on about 90% of what he wrote. Like I don’t even know what he’s talking about. But thanks for the free listings the past few months. As for the future free listings for store owners: I’m sure they will come in handy if I ever want to get into the trading card game, but I doubt it.