In Part I (here), we first looked at the new strategy that eBay outlined for Q3 when the marketplace and PayPal split. In Part II, we will look at the financial results and point out any highlights of interest to sellers.
First, here’s the eBay results dashboard with the results from Q1:
The positives for the Q were:
- International GMV growth accelerated 7% y/y ex-fx which was an acceleration.
- Sold items grew 9% in Q1, an acceleration from Q4’s 8.4%
- eBay said they saw signs of stabilization in Q1. Specifically over the trailing three months, active buyers and FX neutral GMV were both 5% – flat with Q4 results. In other words, these metrics aren’t worsening, so it feels like a bottom.
- Fixed price listings represented 81% of GMV and grew 10% y/y ex-fx
- eBay enabled $8b in mobile commerce, up 40% y/y.
…and the bad
- US GMV slowed to 1.9% y/y compared to 3% in Q4. eBay did say that there was a 1% growth in non-CBT sales in the US, but that was offset by slowness in CBT due to the strong dollar.
- Total GMV came in at 5% y/y growth. E-commerce is growing 15% and Amazon is growing > 20%, so eBay is losing share at an increasing rate.
- Active buyers only grew 8.2% – a slow down from Q4’s 11% growth in active buyers.
- The auction format decreased 12% y/y (not unexpected, but doesn’t help eBay get to e-commerce growth rates).
We’ll be watching Q2 closely to look for further signs of deceleration, stabilization or acceleration.
This blog was written by Scot Wingo, CEO, ChannelAdvisor.