To cope up with the recent loss on average customer value eBay has launched “eBay Local” in United Kingdom. The main objective of this Marketplace is to engage large number of buyers and sellers present locally. eBay local facilitates local item searches based on the Zip code and as a result of which buyers get to view the location on the Google map with the items pinned demonstrating the price and distance of the seller from the buyer’s location. This mechanism allows the buyer to reach out to the seller locally and hence saves the delivery time. Also, it provides the convenience of paying cash as soon as the product is picked from the respective seller.
eBay already has 13 million products listed on this website. We can assume that with this new idea of local Marketplace, eBay can compete with other popular eCommerce players, thereby resulting in huge transaction, revenue generated, customer satisfaction and customer growth.
How the idea of local marketplace can drive user growth and ease of payment?
As per the survey made, average amount spent per active user is a very essential point to leverage eBay’s transaction which moving forward can give a huge positive impact on its valuation. This valuation is expected to increase marginally by the end of this year.
eBay local has been launched assuming that it has the potential to scale up the transaction and encourage the users to use the Marketplace as much as they can. The buyer gets the benefit to move to the seller’s location within few minutes as it is locally situated.
Buyer can inspect the product before making the final transaction. This feature should have a positive impact on the sale of second hand products on eBay’s platform. Apart from this, the convenience of being able to pick up the product directly from the vendor’s place will demolish the delay made while the product is being delivered.
If we discuss on eBay’s transposition program, the major objective is to bring the buyers and sellers on the same page. The organization has taken several initiatives for this including investment in technology to filter product listing, a more defined product search proficiency, also easy shipping option method. This initiative is expected to show result reflecting an increment in its stock price over previous years.
eBay has put strategic efforts in expanding its business in regions such as Africa and Caribbean in previous years. We hope the effort given on eBay local shall drive volumes on its Marketplace and help the company to get better revenue in future.
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