A year ago, Dinesh talked about buyer focus (trust, value and selection) and for sellers (velocity, efficiency and reliability). Over the last twelve months they have delivered on a lot of these areas.
Top rated sellers grew 13% vs. 11% for overall e-commerce. The top of the top sellers (largest sellers) are outpacing e-commerce growth even more.
Dinesh then did a fun quiz – about the top selling item over 5,000 units. LED headlamps was the answer. He then shocked the crowd by giving out an iPad for the correct answer.
Daily deal sold 1.2m unites in 2009. In 2010, they’ve already sold 600k units this year. One Toshiba TV sold 20k units in hours.
DailyDeal is a great way to move velocity. eBay has delivered on velocity.
Efficiency – Dinesh highlighted several initiatives eBay rolled out over the last year such as the UPI assistant, tracking numbers on the site,
There was another question for the crowd – How much has eBay lowered the listing fee for fixed price – the answer was 99%. They then showed a chart illustrating that decline over time.
For buyers, they talked a lot about trust. eTRS GMV is up from 22% to 32% since the launch of the program through April 2010. Dinesh then reviewed the buyer protection program. He highlighted the eBay bucks program as part of how they are driving value. Some segments of buyers show a 4X increase in activity in the program.
Selection – eBay has dramatically increased the selection on the site. They talked about a lot of the large brands (Dell, eBags, Shoemall, Disney, Brooks Brothers, Black+Decker, TigerDirect, SportsAuthority, Timberland, Music123, Football fanatics) now on the site.
(continued in part II)
SeekingAlpha Disclosure – I am long Google and Amazon. eBay is an investor in ChannelAdvisor and a sponsor of ChannelAdvisor Catalyst.