The world’s largest marketplace, eBay has millions of listings at the present era. It was found in the year 1995; the company has overcome more obstacles to achieve its peak. Over the past fifteen years, eBay has become one of the largest companies in America and also it is one of the recognized brands around the world.
The eBay Auction Automatic Bidding system
Eventually, there are two kinds of listings; auction-format listings and fixed price listings. The fixed price listing is similar to that of the online shopping. Just a single click is enough to make a purchase and pay for the product. The Auction format listings are a new one for the eBay customers. Here the pricing and the bidding system for auction listing can make the purchases is a complex one
Two Kinds of Items
In general, the items on eBay are being sold in two different ways. The fixed price items are easy to identify because they have a buy it now button with a price listed next to it. The auction items have a place bid button next to a check box for entering the bids and show a current bid price. The auction items are open to bids for a shorter period of time. When the time interval is over, the item is declared sold to the highest bidder. A few items have both kinds of buttons and show the prices at the similar time for both the products. The items are for sale in both the ways. If nobody uses this innovative button, then the item goes to the highest bidder when the time is up.
Local eBay in the UK
A few months back, eBay launched eBay Local in the United Kingdom which is aimed towards increasing the online marketplace experience by connecting the buyers and the sellers who are physically close to each other. This new innovative website allows the local product searches based on the postcode and the outcome is a Google Map with the products attached, showing the price and distance of the seller from the postcode.
A local marketplace can ensure the quick delivery and provide the convenience of the paying cash while picking up the product from a well-known seller. The company already has thirteen million products listed on the website. A local marketplace has the ability to connect the buyers with the sellers can develop, thereby supporting the eBay’s transaction, revenue, and user growth.
A Huge Delivery can drive the Transaction Growth
According to the estimation report, the average spend per active user is an important key factor for the eBay’s valuation and more transactions on its marketplace and can increase the number and hence its valuation will be in a positive manner. The local eBay holds the potential to drive the metric and encourages the users to use the marketplace for more transactions including the used products. The buyer’s experience can benefit from the ability to identify a seller in a shorter period of time way from the buyer’s location.
The convenience of being able to pick up the product directly from the seller increases its fame. Hence there is no any need for the buyers to wait for the product to be delivered. They can audit the product before the transaction process begins. This feature should have a positive impact on the sale of used products on eBay’s platform. If the average spends per active user on eBay’s platform increases to around six hundred dollars by the end of the forecast periods, there can be a ten percent upside to the price estimation.
As the company works on its turnaround program, one of its important goals is to buy a product and sell its product easily on its platform. It also has taken several initiatives in this direction, including the investment in technology, to refine the product listings and a rich inventory for the folks etc.
These initiatives have started showing results which are suspected about thirty percent appreciation in its stock price comparing to the previous years. The company has put consistent efforts over the African regions. The eBay local is one of the important initiatives to drive volume on its marketplace, the initiatives which make buying and selling more convenient, it should drive the revenues for eBay in the future.
How to deal with local eBay?
Be cautious about the locations
The locations are auto-generated by using eBay’s data. It is a better option to contact the seller to double check the location’s correct unless they particularly specify the place in the item’s description. Eventually, the items will be at a different spot mile away. To protect the seller’s privacy, it is better to give a rough location based on the first part of the postcode.
Don’t misunderstand the term bargain
Just because of its local and eBay does not automatically mean it is a bargain. Always benchmark the price before buying. Use the option of shopping robots so that the internet retailers can find the cheapest price.
It is better to use the option of Martin’s Money Mantras
Before the bidding process begins, use Martin’s Money Mantras to ensure for a betterment of use and also one can afford them.
Safety should be first priority
While the incidents are rare, there are simple precautions so that one can take to make sure of the transaction is safe. It is better to take a mobile phone always with you.
Check the eBay updated current rate
The collection only items often attract the fewer bids. Bu they are not guaranteed to be cheaper than eBay’s average price, especially if the seller has a high starting price. There is an easiest and quickest way to collect a product’s market rate. A person should fill in the search box and check the completed items on the screen. A list of prices similar listings will be shown up. It is better not to cross the limit more than this cost price.
Collect the Feedback
The online marketplace eBay sellers have a feedback rating that acts as a useful guide to whether they have dealt fairly in the past. It is better to look for a seller with over ninety-eight percent positive feedbacks, and a feedback score of at least thirty. It is advisable to purchase an expensive item from a seller with zero feedback.
It is good to know eBay Consumer Rights: Buy from the trader who makes some or all of their living selling on eBay and have full consumer rights. It is always better to buy from an occasional private seller.
Give Way for the Second-hand marketplaces
Amazon, a gigantic e-commerce website has a thriving second-hand marketplace for most of the products that it sells new. When a person searches for an item, the second-hand prices will be listed. It offers a fixed price rather than an auction, making it a better alternative. The Facebook selling groups is also a good place, where the people can send the products to the local community.
Don’t miss the chance of buying free products
There is a list of top-quality products available across the country for free and it totally depends on the local web communities. Instead of binning the goods, the folks can offer them to the local community.
Anand Rajendran is the Co-Founder and CEO of Zoplay a well known Software products development and Mobile App Development Company based in Chennai, India. He has extensive experience in building and leading innovative and collaborative software development teams to deliver major software applications like Zobay an Ebay clone script developed by Zoplay. He loves exploring new things and sharing his knowledge with others.