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Ebay posted their latest trading update this week, and its not looking good!
This is what they said....... "For the three months to June, the company reported a massive drop in net income from continuing operations in the period from April to June in comparison with the year-ago period. Net profits for the 2017 quarter were just $27m (2 cents per share), while for the same quarter of 2016 that figure was $437m" That is a mighty large fall!
Of course, pretty much anyone who has been using ebay as a sales medium for the past years would be able tell them why they have suffered such a huge drop, as they seem to have lost the plot regarding the way in which to run the site some years ago. In fact it surprises me that they still have any of the small customers left, and they have always been the backbone of their business. I know that many of the autograph dealers here in the UK have almost given up on getting sales via the site, and use it mainly to try and drive sales to their own website or simply to help build a database of customers.
They go on to say......."During the past two years, we have made significant progress to modernise eBay and drive growth by improving the customer experience" Are they serious, improving the customer experience? more rules! more fakes! more scammers! and worst of all, even more interference by ebay in almost every way possible. One topic of converstation between dealers is the way in which they appear to manipute the searches for certain products at different times, and we assume they do this for their own benefit!
Until ebay removes its head from its backside and gets back to its roots, and of course makes efforts to remove the scammers from the site, then their sales and profits will contimue to fall. But i have no doubt that all they will see is falling profits, which means they will need to screw more money out of the smaller sellers in any way they can. You have been warned!