eBay CEO Jamie Iannone wants to use next-gen technology to sell used or new-but-out-of-season items, as well as vintage and collectibles, he told Yahoo Finance’s Julia La Roche in an interview today.
For most of its verticals or categories, eBay has low double-digit or high single-digit penetration, Iannone said, “and that business is growing double-digits.”
He said eBay is going vertical-by-vertical and saying, “how do we really win in that market?”
Part of his tactic is to introduce authentication services, as eBay recently launched in the Watches and Sneakers categories. That really helps build trust in the platform, he said.
Another thing unique to eBay is consumer sellers who bring unique items to the site, he told La Roche. And when people come to sell things around the house, they become twice as valuable as a buyer. “We see lots of untapped potential,” Iannone said.
La Roche started the interview by pointing out that Iannone came back to work at eBay in the middle of the pandemic in April, “with quite a bit of attention on the activist side, and some issues on the PR side as of late,” while going through its own transition of late – “walk us through your CEO playbook,” she asked.
Iannone said when he rejoined the company, he went on a “listening tour” to talk to employees and customers – sellers and buyers – as well as “visiting” different offices around the world (through Zoom).
He sees next generation technology, including artificial intelligence and machine learning, to change the experience on eBay. Managed payments is one example of his “tech-led reimagination” strategy that makes it seamless for sellers.
You can see the full interview on Yahoo Money.
“eBay CEO Jamie Iannone Attracted by Non New In-Season” ….. I guess its an issue for his wife (who/what hes attracted to)
As for his business outlook ……. this ISNT Walmart its eBay and theres millions of vendors not just a few thousand (that you can bully into submission)
The silly softball questions ” “walk us through your CEO playbook,” she asked.” are childish and asinine.
He should have been asked how he plans to grow the marketplace, despite his and eBays 1990s attitudes towards ecommerce.
He should have been asked how he plans on growing the sales of commodity items due to their low cost and shipping costs
He should have been asked ALOT of things but wasnt.
“Part of his tactic is to introduce authentication services, as eBay recently launched in the Watches and Sneakers categories. That really helps build trust in the platform, he said.”
1) no it doesnt. forcing/adding authentication services to a $100 pair of sneakers adds time and costs that most buyers dont want or need. eBay cries (like a baby) about ship time – yet this will at least DOUBLE standard ship times and add additional shipping costs – so a) who will put up with it b) whos going to pay for it all
2) eBay has ZERO trust – from anyone. Makers hate that eBay lets people sell their items to begin with (the whole VERO issue), sellers know eBay is out to screw them – so they dont trust eBay – so whos left – buyers? buyers can do almost anything – theres no reason for them NOT to trust ebay – but so what?
@Pace306, well put. The 2 walmart dopes have done nothing to have sellers trust fleecebay.
just more blah blah blah
“Nero fiddled while Rome burned”