eBay Inc (NASDAQ:EBAY) Sold Items Worth $20.5 bn in Q1 2016

eBay Inc (NASDAQ:EBAY)’s gross merchandise volume stood at $20.5 bn in the first 3 months of CY 2016. Investors in eBay were hoping to see this figure going up faster than the actual number of users. However, this is just a 1% growth on face value and a 5% growth when you consider changes in foreign exchange. Speaking at the Q1 2016 earnings release, president and CEO Devin Wenig said that the continued growth indicates that things are going as planned and that long-term success can be ensured. Out of the $20.5 bn, $19.6 bn were sold on the marketplace platforms.
The ticketing platform StubHub sold $869 mn worth of merchandise. Plenty of sports events and concerts were responsible for this. The classifieds platform, on the other hand, is doing particularly well in Germany and the UK.

eBay Inc Focuses on Innovation

In order to keep users coming back to engage again and again, the firm is making tweaks and adding bells and whistles across each of its properties. The amount of available inventory continues to grow. During Q1 2016, more than 900 mn items were on sale at any point of time. We recently read about efforts on structuring the product data and its benefits for sorting and searching/filtering items of interest.

StubHub added some new features, such as a ticket recommendation engine and a VR-enabled view from the available seats of an event. This gives buyers an immersive view of the venue as if they were on their chosen seat. Classifieds made a lot of changes, such as introducing in-app chat on mobile, between buyers and sellers. This will speed up the buying process by allowing for faster and easier communication.

Strengthening Ties with BigCommerce

Earlier this month, the firm took ahead its existing relationship with BigCommerce in order to create a win-win situation for both parties. Now, BigCommerce merchants will be able to seamlessly list their products and manage their items on the eBay marketplace. They will also be able to tap into the community of more than 162 mn global buyers that are active on eBay. This will enable them to grow in times of tough retail competition. As a by-product, buyers on eBay will naturally get the benefits of increased selection and choice of options.

Technically, the merchants will have the abilities to list, manage and sell their wares on the eBay marketplace by making use of the BigCommerce control panel. This will streamline a lot of processes for them. For one, inventory can be managed from one place. Stock levels can be easily synced with eBay orders. This will help them get a better real-time picture of how fast their goods are moving and when they might need to replenish stock. Once the integration is over, sellers will be able to get all the details of their entire catalog at a glance. This will mainly benefit small traders who do not have dedicated staff to keep track of the items.

For larger traders, this will bring in faster listing of bulk items. Once again, this can be centrally managed. It will be possible to create hundreds of listings in a few minutes. Customizable templates will be provided for creating the catalog, so that products get assigned to the right categories in eBay’s marketplace. They will also be able to sell at a larger scale using the global shipping program, through which they can have precise control over the quantity, price and description that is offered to different buyers.

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