eBay Auction Celebrates 10 Years Live
On June 23-25 in San Jose this year’s annual “eBay Live!” conference will host around 10,000 eBay buyers and sellers in celebration of the 10th anniversary of the world’s largest online marketplace.
Over the last 10 years, eBay has grown from an auction site primarily connected with collectables to be a complete online marketplace in its’ own right, with thousands of retailers looking to increase sales through their eBay shops.
The conference is for employees and users of eBay and PayPal from around the globe and features a live concert by the B52s and other social attractions as well as classes, workshops and other business activities.
eBay’s first-quarter 2005 net income was 28 percent up compared to the same quarter of 2004. The company says this earnings growth is due to a record increase in new visitors along with a 36 percent rise in sales.
Pro-forma profit of $0.20 per share was posted, beating analysts’ expectations of EPS totalling $0.18. The company reported its net income including expenses as $0.19 per share ($256.3 million total). This was a significant increase compared to $0.15, ($200.1 million) a year ago. Net revenue was $1.03 billion for Q105, compared with $756.2 million for the same period last year.
eBay was reported to be the number 1 online retailer in March 2005 with purchase transactions reaching 21.3 million items which is equivalent to almost 45 percent of total online purchases. eBay exceeded Wall Street forecasts, although the Company had previously missed Q405 expectations.
The continued growth in eBay’s market dominance in the auction sector on a global basis is leading many internet shops that were previously operating on a standalone basis to join eBay where they benefit from the collective internet presence.
But some eBay shops are now starting to form their own off eBay Shops Directory groups to promote their eBay sites. As more independent online retailers join eBay, especially from the low-cost countries such as India and China, this trend towards externalised promotion will probably gather pace as the thousands of competing eBay shops struggle for differentiation and market share.
