eBay has always been one of the top online retailers when it comes to finding products on the Web. However, as time went on, the competition in the virtual media increased with numerous players making their foray successfully into the online shopping sector.
Although eBay stood its ground and survived the competition, the other names in the market started cutting into their profits because they were no longer the only portal offering lucrative shopping deals.
The entire industry of online shopping depends on consumers’ buying behavior. Extensive research and studies are conducted on a regular basis to understand the “purchasing pattern” of customers during a certain period. This is one trend that varies rapidly from time to time. For example, people are usually willing to splurge during the holiday season and hold off during the others. The time period before the holiday season is generally a “dry” period.
eBay’s Revamped Webpage
eBay has mastered the art of catering to a vast audience according to their needs. At the same time, they need to retain consumer interest in their products and prevent them from switching over to rivals. Thanks to the electronic media, a company website has assumed immense importance. In order, to attract more traffic and promote their offerings, eBay has launched a revamped website with a host of new features, better navigation, and faster responses to queries.
eBay Website Inspired by Social Networking Sites
The inspiration for the new design of the eBay website is supposedly social networks like Facebook, Twitter, and Pinterest. In fact, most people are saying that the new layout is based on Pinterest, especially in the placement of the photos. There is also a “feed” feature that is borrowed from Facebook.
The purpose of re-designing the website and making it look like a social network is to ensure that consumers find the webpage user-friendly and are able to find their way around without any difficulty.
eBay to take on Groupon
However, there is a major addition in the offerings by eBay – daily deals on local services. Earlier, eBay has always focused more on products than services, so it is a huge step for them. Groupon is currently ruling the roost in the multibillion dollar market of daily deals. The new section on eBay called Lifestyle Deals is now available in limited areas such as Los Angeles, Washington D.C. and San Francisco Bay area.
Offers in the section comprise $12 for a one-hour dog-walking service worth $25, $180 for six private gym sessions worth $360, and $50 for a month of Yoga classes worth $110.
eBay will Experiment
Devin Wenig, president of eBay Marketplaces has stated in an interview that eBay enjoys a loyal customer base who come to buy regularly across categories, which is why they felt it was time to expand their product offerings and improve on customer service as well. Since services like discounted deals are extremely popular these days, eBay is willing to take the plunge and venture into the territory.
They have collaborated with start-up Signpost, which takes care of arranging deals with local merchants and then putting them up on the Lifestyle Deals section.
eBay is extremely optimistic about their new venture and will add more merchants if the Lifestyle Deals section does well. All in all, customers can expect a complete shopping experience across all categories now.