Why is Ebay So Successful?
Filed under EBay
Why is ebay so successful? I don’t see how ebay itself can fail to be successful. If we are talking about ebay and not people who sell on ebay, then I think the answer boils down to just a few nuts and bolts factors. Can you guess what they are?
First, ebay brings together buyers and sellers in a global, online market place that promises, for the most part, a secure shopping and selling enviornment. As a shopper, you can shop the world from your kitchen table for almost any item conceivable. As a seller, you can reach out to buyers anywhere in the world capable of plugging in. In my opinion, that really wraps it up in a nutshell. Of course, let’s not forget the technology that allows ebay to manage the complexity of the thousands upon thousands of auctions taking place at any given moment, and the hundreds of thousands of financial transactions taking place every moment of the 24 hour day.
Although I am not particularly gung-ho on ebay, think about what you get in terms of advertising space for your product auctions for the price and compare that to the reach of local radio, newspaper, and tv advertising. Even though the cost of “doing” ebay has gone up considerably over the years, it is still a pretty good deal. As an aside, it is easy to forget that ebay is not the only game in town. It may be the biggest, but there are many other auction venues to take advantage of, these days.
It is also relatively easy to go into business as a seller on ebay. With the economic crisis, ebay has flourished allowing instant home business start-up for the newly unemployed trying to make fast cash. And for shopper trying to save a buck, the competition on ebay often keeps prices at or below even wholesale prices. Moreover, with the economic down slump, more and more people are open to purchasing used items, and ebay is, if nothing else, the world’s most magnificent flea market and perfect venue for selling used, damaged, and one-off items. This, by the way, is an ebay seller’s secret–that ebay is a dream market place for used, liquidated, closed-out, one of a kind, surplus, collectible, and even damaged items.
As I said above, I don’t see how ebay cannot be successful. In fact, now that I think about it, starting my own regional auction service might not be a bad idea . . . . Basically, I think that ebay’s success lies in its ability to bring buyers and sellers and virtually every market imaginable together in a single, easy to use online market place.
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Theo,
I don’t recall the exact time of day, but if I posted in the morning then quite possibly while I was having coffee. Possibly even while I waiting for the water to boil. Keep in mind that this is a blog. Not everything is profound, but if you take the time to look through the content, you’ll find some really good information on ecommerce, product sourcing, and related subjects.
Thank you for commenting, by the way.
That’s it! That’s your post? How long did it take you to right it? 10 minutes while you were having your morning coffee?