eBay sellers have a lot to look forward to in 2019 as the company’s new head of seller experience introduces them to new pricing features that’ll help boost their sales.
Harry Temkin built analytics during his time at Thomson Reuters, where eBay CEO Devin Wenig previously worked too, prior to joining eBay and becoming their new head of seller experience.
Temkin said he and his team are working on integrating pricing databases into the Seller Hub in order to give eBay sellers, whom he describes as the most important thing to him, access to accurate pricing information.
Real-time pricing guide
This week eBay are releasing their integration of Terapeak into the Seller Hub with a single sign-on function, giving sellers instant access to the Terapeak historical data.
Also in the pipeline is Multiple Top Pick (MTP), a tool which displays web-based pricing for comparable products sold on and outside eBay.
According to Temkin, MTP shows the historical pricing that occurred for a particular product, its current web pricing, and its top competitors on eBay. This will help sellers come up with not only real-time prices but competitive prices for their products.
When asked about his outlook for eBay sellers in 2019, Temkin said:
“A lot of what I want to focus on is around analytics. Where I want to go is to provide you all of the real-time mechanisms or real-time pricing and analytics directly in the Seller Hub so that you can make the best decision about how you price your product.”
More pricing tools in the Seller Hub
Temkin says the key to selling more on eBay is knowing the going rate for your product and offering it to your customers.
Below are the rest of eBay’s newly built pricing tools which are currently available to a select group of sellers, but will fully roll out sometime next year.
- Seller Initiated Offers enables you to initiate an offer to whoever’s watching the item on your listing.
- Listing 1.0 lets you opt to automatically relist an item that doesn’t sell and reduce its price using the Best Offer feature.
- Buyer Initiated Offers gives buyers the ability to initiate an offer to all eBay sellers who are offering the product they’re interested in. It’s up to you, the seller, to accept or decline an offer.
- Multi-user Access and Authentication allows you to grant your assistant or members of staff partial or full access to your account.
- Uncomparable Price Alert notifies you of listings that aren’t comparable to similar products on eBay, price-wise, and leaves you to set your prices either to the current comparable price or reduce them to a certain percentage based on the comparable prices.
- Sharing Listings on Social Media was first launched on the eBay mobile app and will soon be extended to Seller Hub so that you can easily share your listings on different social media sites.
None of these, according to Temkin, is mandatory as he made it clear that he would never build something that would automatically control a seller’s price or pricing tactic. He explained:
“I’m a true believer that every seller has a different DNA just like every trader. So you’ll have the ability to decide how you want to use these features. But the overall design is to make it much more efficient for you.”
Which of eBay’s new pricing tools are you most excited about? Let us know in the comments below.
As always, to your continued success,
Dave & Matt