We hope eBay’s performance in Q3 2016 has affected your business in a good way.
The company has reported a 5% increase on its overall gross merchandise volume (GMV) of $20.1 billion and an 8% increase on its total revenue of $2.2 billion.
A huge chunk of eBay’s earnings came from its marketplace platforms which had a GMV of $19 billion and a revenue of $1.8 billion.
Aside from that, eBay added over a million active buyers to its marketplace platforms, totalling to 165 million; that’s a 3.7% increase from 159 million in the same period a year ago.
When asked about his take on eBay’s third quarter financial results, President and CEO Devin Wenig said:
“We delivered good top- and bottom-line financial results in Q3, led by consistent performance in our core eBay platform and strong growth from StubHub and Classifieds.”
StubHub grew its revenue to $263 million and GMV by 23% to $1.1 billion for the quarter.
On the other hand, the Classifieds platform’s revenue increased by 14% to $197 million, which the company attributes to Automotive and Real Estate.
eBay Improves Structured Data Initiative
The third quarter also saw eBay making improvements to its structured data, an initiative which aims to standardise the listing process across the company’s marketplace platforms.
eBay sellers are required to include additional details in the products which they list, to clearly outline their features.
By doing so, customers will get not only better, but also relevant search results.
“Using our data, we’re also increasingly reaching out to our sellers to prompt them to source and list in-demand goods where we see gaps in supply,” Devin explained.
In line with its structured data plans, eBay has initiated partnership with brands like Mattel, Fender and Magic Chef, to name a few.
Aside from that, it has also signed an agreement to acquire Corrigon Ltd, a visual search technology company.
eBay on Being No. 1
The goal of eBay remains to be the most powerful selling platform on the World Wide Web.
However, Devin and his team know very well that there is no shortcut to getting there, just good strategy.
So, they’re sticking to what they have put in place and been using since last year.
According to Devin, they’ve already made progress and began activating their new brand marketing messages.
In fact, the company is ready to roll out its plans for the last quarter of the year, which practically all sellers on eBay would regard as most profitable for their business.
Keep your fingers crossed and hope for the best in the remaining months of 2016.
How much have you gained from selling on eBay over the past year? Please feel free to share your experience with us in the comments.
To your continued success,
Dave & Matt