eBay, the company and what we might see for 2024

[MummyChunk]

eBay is one of the world s largest online marketplaces, connecting
millions of buyers and sellers around the globe. The company has been
around for over 25 years and has undergone many changes over the
years. So what is the current climate within the company, as well as
some of the issues and problems they are facing for the upcoming year
2024?

Current Climate:

Sustainability: eBay has made a strong commitment to sustainability in
recent years. In 2020, they committed to setting Science Based Targets
to reduce their greenhouse gas emissions1. They also aim to avoid 8
million metric tons of carbon emissions and 350,000 metric tons of
waste from 2021 to 2025. These efforts have helped to establish eBay
as a leader in corporate sustainability.

Financial Performance: eBay has been performing well financially in
recent years. In Q3 2023, they reported revenue of $3.1 billion, up
14% from the previous year. This growth is largely due to the increase
in online shopping during the COVID-19 pandemic.

Acquisitions: eBay has been making strategic acquisitions to expand
its business. In 2021, they acquired the sneaker authentication
service, Authenticity Guarantee, to help combat counterfeit products
on their platform. They also acquired the secondhand clothing
marketplace, Depop, to expand their presence in the fashion industry.

Issues and Problems:

Competition: eBay faces stiff competition from other online
marketplaces such as Amazon, Walmart, and Etsy. These companies have
larger customer bases and more resources to invest in marketing and
advertising. eBay will need to find ways to differentiate itself from
these competitors in order to remain relevant.

Counterfeit Products: eBay has long struggled with counterfeit
products being sold on their platform. While they have taken steps to
combat this issue, such as the acquisition of Authenticity Guarantee,
it remains a major problem for the company.

Data Security: eBay has faced several data breaches in recent years,
which have compromised the personal information of millions of users.
These breaches have damaged the company s reputation and eroded user
trust. eBay will need to invest in stronger security measures to
prevent future breaches.

Seller Fees: eBay charges sellers fees for listing and selling items
on their platform. While these fees are necessary to support the
company s operations, they can be a burden for small sellers. eBay
will need to find ways to balance the needs of their sellers with the
financial needs of the company.

Shipping Delays: eBay relies on third-party shipping providers to
deliver items to buyers. However, these providers have been
experiencing delays due to the COVID-19 pandemic, which has resulted
in longer shipping times for eBay customers. eBay will need to work
with these providers to ensure that shipping times are minimized as
much as possible.

Customer Service: eBay has faced criticism in recent years for poor
customer service. Many users have reported long wait times and
unhelpful representatives when trying to resolve issues with their
accounts or purchases. eBay will need to invest in improving their
customer service in order to retain users and attract new ones.

Product Quality: eBay has also faced criticism for the quality of
products being sold on their platform. Many users have reported
receiving damaged or defective items, or items that do not match the
description provided by the seller. eBay will need to find ways to
ensure that the products being sold on their platform meet the
expectations of their customers.

International Expansion: eBay has struggled to expand into certain
international markets, such as China and India. These markets have
unique challenges and regulations that eBay has struggled to navigate.
eBay will need to find ways to overcome these challenges if they want
to continue to expand their business globally.

User Engagement: eBay has faced criticism for poor user engagement in
recent years. Many users have reported feeling disconnected from the
company and its mission. eBay will need to find ways to engage with
their users more effectively in order to build a stronger community
around their platform.

Mobile App: eBay s mobile app has faced criticism for being slow and
difficult to use. Many users have reported issues with the app
crashing or freezing, which has resulted in frustration and lost
sales. eBay will need to invest in improving their mobile app in order
to provide a better user experience for their customers.