Once again Ebay's third quarter report came in with a 29 percent decline in net profit and Amazon's third quarter came in with a 28 percent increase in sales!!! Skype and Paypal are now pretty much holding Ebay up. Mr. Donahoe...how much longer will the madness of disruptive innovation strap Ebay down and beat it up? How much longer will the ridiculous "best match search" be around? Until the last light goes out? You may feel you're changing Ebay's business model but how much revenue and traffic has been lost during this project? Ebay had a monopoly on its niche on the internet - it was the place to go for the rare, the vintage, the collectible you could find nowhere else. That monopoly is now shared with the likes of Bonanzle, eCrater, Etsy, and the like as more and more small sellers leave and take some buyers with them.
The Ebay fiasco seems to be a textbook case in what not to do with a multi-billion dollar company. The sad part in all this are the small sellers - the stay at home moms, the out of work dads, the elderly and the disabled who made real money on Ebay before "the change" started. Many of those small sellers are gone now - pushed out of business by ridiculous new policies - the ones who remain are being treated with suspicion, like crooks and forced to adhere to some pretty draconian policies. From start to finish the new Ebay is a sad joke and each quarterly report verifies that fact. About the only thing that can possibly save Ebay is to split it up into the classic old Ebay where auctions are still king and the small seller is treated like the customers they are - and the new Ebay reserved for the diamond sellers of new chinese junk....but we all know that won't happen.
Mr. Donahoe - sorry, but Ebay can no longer hide behind the economy - not since Amazon's amazing quarterly report. You can no longer say people don't want auctions - they are still popular and fixed price is also available. Traffic is down on your site and buyers are getting rarer and rarer. I beg you to rethink Ebay's path and to once again look at the small sellers who built Ebay and see them as the important customers they truly are.
On the other hand, a company that stuck to its business model, kept its nose to the grindstone and worked hard and honestly to improve its standing on the internet is enjoying a giant leap in stockprices today.
You're a Class Act!
You're a Class Act!
My artwork for today....a bit of sweetness to go along with the bitter pill ;-)