Mobile Sales Give eBay a Boost, but Competitors Say the Economy Is in Their Corner
The trend toward economic recovery has likely helped boost sales at sites like uBid and RedTag, where buyers set the sales prices.
Spokesperson Kari Ramirez says the existence or nonexistence of a recession has nothing to do with the company's recently reported numbers. "Business does not fluctuate with markets and the recession," said Ramirez via email. Instead, she says, eBay's multiple platforms now have a global reach, creating an international marketplace. "Our platforms enable us to connect buyers and sellers anywhere in the world as we are delivering multichannel commerce innovation through eBay Marketplaces, PayPal, and GSI."
Mobile sales have been the main driver of growth at eBay. As of mid-October, 383,982 car parts and accessories and 9,200 vehicles were being sold every week, and 107 pieces of clothing, pairs of shoes, or accessories were being sold every minute exclusively through eBay's mobile apps. It helps that eBay's customers can land on the site ready to spend a few dollars or a few thousand. "As of October, we had 350 million listings on eBay.com and have a wide range of items, including cars that could be priced for $100,000 to a hair accessory priced at $0.25," says Ramirez.
At the online auction site uBid.com, however, executives feel that a slight recovery in the overall economy has helped sales. The eBay competitor launched in 1997 with over 5 million members. It says that the company, along with its sister site RedTag.com, does not currently have the data to comment on a connection between its business and the recession. However, says uBid.com's Nancy L. Ragont, Vice President, Marketing: "Anytime people are buying outside the consumable realm shows economic optimism, really.
"People are still a little leery about a bounce back and therefore are looking for ways to shop for less this holiday season," she added, so uBid and RedTag -- where buyers essentially set the price -- are gaining popularity.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter