eBay released a survey today that suggests sellers are generally happy with new and improved seller tools on the marketplace platform the company has launched.
The company said that its survey showed that over half of sellers (54%) grew their business on the marketplace in 2020. Sellers who used Terapeak to research trends and sales on eBay grew their business by 32% compared to 22% who never used the tool.
The Promoted Listing feature is also gaining more traction among sellers, with the survey finding that 52% of sellers use Promoted Listings. Just yesterday, eBay announced new options for Promoted listings that make it easier for sellers to run promotions on the platform automatically.
A recently introduced feature is Time Away which enables sellers to inform their customers when they’re on vacation or away from selling. According to the survey, 40 percent of sellers have taken advantage of this feature.
The number of sellers who have used Time Away seems high, and eBay did not explain why so many sellers would put their accounts on a selling hold.
One explanation could be that last year when USPS and other carriers had massive delays during the holiday season, anecdotal references on social media suggest some eBay sellers may have opted to halt selling for a while until the shipping situation improved.
Of course, many eBay sellers are one-person operations. The high use of Time Away could be from these sellers putting their sales activities on hold occasionally while they manage personal affairs.
Another recently launched feature is Offer to Buyer, which allows sellers to make offers to buyers who are watching an item or have added to their cart but have not checked out. Over 1/3 of respondents to the survey said that this feature positively impacted their business in 2020.
In December 2020, eBay revealed that Offer to Buyer had reached $1 billion in sales since its launch in January of the same year.
Survey Shows What Sellers Want eBay to Help Their Business
Additionally, eBay asked sellers what improvements the company should further innovate to help sellers grow their business. Shipping, Listing, and Pricing led by significant margins over other responses.
- 72% – Shipping Tools
- 61% – Listing Management Tools
- 59% – Pricing Tools
- 45% – eBay Design Tools
- 34% – Sales Reporting Tools
- 30% – Business Insight Tools
Survey Has No Mention of eBay Managed Payments
Noticeably absent from the survey data released by eBay is any mention of payment processing.
Since eBay launched eBay Managed Payments in 2018, the transition from PayPal as the defacto standard payment platform to its own Managed Payments program continues to be controversial and plagued by many reports of problems.
Make of this omission what you will, but it doesn’t seem accidental…
2020 was an unsual year for online commerce. It propelled sales for some sellers and merchants significantly regardless if they had a promotional strategy to build sales.
Often, sellers just tried to handle the sales growth as consumers stayed home due to the Covid-19 pandemic and chose to do more shopping online. Many experts and surveys believe this trend will continue.
But that also means more entrepreneurs may look at eBay as a way to build a new business or expand an existing business, increasing competition among sellers.
The survey results appear to show that many of the new tools help sellers if they use them. For those sellers who have not used them, this may be a good time to experiment with the new tools and features.
eBay says it will continue to listen to sellers on their needs and respond with tools and products that add value.
“From individuals to small business sellers to mid- and large-size brands, we provide all sellers, across our marketplace, with next-gen tools and technology. Our tools allow everyone to enter and grow on our marketplace with equal opportunity for success, tailored for their individual inventory and goals.”
Here is the link to the survey data and the methodology behind it.
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