eBay tries to catch up with rivals, misses second-quarter forecasts
eBay tries to catch up with rivals, misses second-quarter forecasts. eBay’s forecast for current-quarter profit and revenue missed Wall Street estimates as the e-commerce company invests heavily to beat the rising competition from the likes of Amazon.com and Alibaba Group.
eBay’s total operating expenses rose 16.1% to $1.44B in the first quarter. The company has been trying to woo shoppers by refurbishing the homepage of its website and making it easy for searches as well as by ensuring the authenticity of premium products that it sells. Read more here.
eBay has built an online person-to-person trading community on the Internet, using the World Wide Web. Buyers and sellers are brought together in a manner where sellers are permitted to list items for sale, buyers to bid on items of interest and all eBay users to browse through listed items in a fully automated way. The items are arranged by topics, where each type of auction has its own category.
eBay has both streamlined and globalized traditional person-to-person trading, which has traditionally been conducted through such forms as garage sales, collectibles shows, flea markets and more, with their web interface. This facilitates easy exploration for buyers and enables the sellers to immediately list an item for sale within minutes of registering.
Browsing and bidding on auctions is free of charge, but sellers are charged two kinds of charges:
- When an item is listed on eBay a nonrefundable Insertion Fee is charged, which ranges between 30 cents and $3.30, depending on the seller's opening bid on the item.
- A fee is charged for additional listing options to promote the item, such as highlighted or bold listing.
- A Final Value (final sale price) fee is charged at the end of the seller's auction. This fee generally ranges from 1.25% to 5% of the final sale price.
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