Amazon’s Washington State Ad Tax: What Sellers Need to Know
Reading Time: 3 minutesAmazon recently announced a significant change for sellers advertising in Washington state:…
The latest eBay news making rounds since its announcement is eBay’s quarterly earnings report 2021. The profits reported have left everyone speechless. The quarterly report being considered the best performance recorded covers the Q1 and Q2 from 2021 for eBay. It showcased the fastest growth in eBay’s revenues since 2005. eBay also experienced one of the best quarters in terms of the expansion in active global user base as well as sellers.
According to the estimates set by Trefis, eBay’s revenues for fiscal Q1 2021 were expected to be $2.99 billion (approx value), just above the consensus estimate of $2.97 billion.
eBay saw an outstanding performance in categories prevalent among others in the recent past. The evergreen Sneakers, Wristwatches, and the Trading Cards saw.
Since the launch of eBay’s Authentication Guarantee program in 2020, eBay witnessed buyer satisfaction reach 80%. Sales of sneakers grew at an exponential rate once again this quarter.
After seeing tremendous success in the U.S., eBay plans to expand its services to other major markets like the U.K., Australia, and Canada in the current quarter.
The luxury watches saw a growth from 16% in Q4 to 38% in Q1 in the U.S. The authenticated items have reached customer satisfaction levels nearing 90%. As a result, sellers are listing more and experiencing a higher price realization. At the same time, the buyers showed trends of visiting eBay more and spending more. Like sneaker enthusiasts on eBay, luxury watch buyers spend thousands of dollars on various other categories on eBay.
Trading cards are an essential aspect of eBay’s collectibles business. Also, eBay is a market leader in the Trading cards category having the most comprehensive selections available across all price levels. Above all, the GMV in the U.S. for trading cards topped at $1 billion for the First Quarter. It represents over half of 2020’s record-setting volume.
The number of Active buyers of trading cards recorded twice the growth. However, it was also noticed that the existing buyers purchased items at much higher prices than last year.
Owing to the better-than-expected performance, eBay has definitely become a marketplace to head towards. Connecting millions of buyers and sellers in more than 190 markets eBay has become an inspiring ecommerce experience for our buyers, sellers, and developers.
The stats have proved that with every passing day people come to eBay to experience their entrepreneurial gains and in the process acquire new skills and access to new markets.
Start managing eBay Multichannel selling on Shopify, BigCommerce, Opencart, Prestashop, WooCommerce, or Magento store. CedCommerce gives you an integrated solution to get started with easy-to-operate multi-channel sales from a centralized location.
Embracing innovation has been a cornerstone of eBay’s growth over the past 25 years, which encompasses technology and financial growth. We’ve seen various updates on eBay covering AI, natural language processing, managed payments, and machine translation that proves its mantle.
However, if you’re already selling online? Nothing can be better than starting your business journey on eBay and experiencing the joy of multichannel selling by integrating the store. You can know more about how integration can help you sell better.
In conclusion, the earnings for Q1 and Q2 of 2021 recorded impressive growth for eBay just like the yearly performance of 2020. With stimulating growth, eBay revenue surpassed the estimates of $2.97Billion and $2.7 Billion. The active global buyers also saw an increase to 159 million active buyers at the end of Q2. The major vertical categories like Luxury watches, trading cards, and sneakers also saw one of the best performances. Moreover, trading cards surpassing $1 Billion GMV for the first time became a remarkable feat achieved in eBay’s first quarter of 2021.
The Q1 Q2 results of 2021 show that eBay promises to deliver even better results on all aspects of its long-term plans. Furthermore, it makes eBay an adequate marketplace for sellers like you looking to up their game and expand to multi-channel selling scenarios.
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