eBay loses its hype
A few years ago, it might not have been surprising to find out that a friend took out payday loans to pay for some must-have item from eBay.
Yes, a few years ago, “Antiques Road Show” and the novelty of the newly discovered online auction were all the rage. Things are different now.
eBay and the economy
A few years ago, the economy was in great shape. People didn’t think twice about using credit to buy whatever they wanted. Thus, it was common for people to use payday loans and other types of credit to pay for items they “won” in online auctions.
Now, people aren’t even spending money they do have, let alone money they don’t have, on discretionary items.
Novelty wears off
For one thing, eBay isn’t so “trendy” anymore. As Fortune Magazine points out:
When is the last time you heard someone all breathless about bidding on some tatty piece of furniture?
The article goes on to point out that people have a lot more options for finding what they want at reasonable prices. Many people just aren’t willing to deal with the hassle of online auctions anymore.
eBay’s money troubles
eBay’s stock prices have fallen 56 percent in the last year. I found that a bit surprising because I have read so many articles about how to make money on eBay lately. There are tons of tips and publications out there with instructions on how you can use eBay to run your own business. Problem is, everyone is looking to make money. Not many are looking to spend it.
Still a chance for cash
If you are one of those people planning to try to make an extra buck on eBay, don’t scrap your plans just yet. Amazon.com and other online retailers that sell items in a more traditional way are doing very well. For things that they do need, people are turning to Internet more and more.
The real trouble for eBay is the declining popularity of the online auction. So before you spend your payday loans on some rare piece of Star Trek memorabilia, remember that you probably can’t bank on reselling it.
It’s not the economy so much as it’s eBays tinkering with the site & the fee increases .. the site is the slowest loading e-commerce site, the least trust worthy as reported today .. the site should be booming with deals but if you go to the eBay chat boards it would be hard to find any sellers saying anything good about the site … this truely is a case it’s not the economy stupid, It’s the CEO & the foolish lack of leadership .. Allan kraig
Everyone says that in the lagging economy folks will be looking to sell items to raise cash (EBAY!), have you tried as a “newby” to actually use EBAY? A pretty high hurdle to get in as a casual seller, pretty complicated and surrounded with rules, regulations, special deals, nearly unpredictable fees, etc. etc. Once you’re on you’ll find an uneven playing field – if the seller breaks any of EBAY’s many and mysterious rules his/her items may not even show in listings. Too bad.
eBay – if it is one of the slower e-commerce sites on the internet, then they should have put more money into tech support to speed things up. All retail is experiencing a drop, even Amazon isn’t selling as well as they did previously. (Still far better than most other sectors of retail, however.) A vintage lava lamp isn’t really quite the justifiable expenditure if you’re worried about getting laid off.
I have been a powerseller on Ebay for about 5 years now, that is how I used to make a living. Since about summer time Ebay has killed my business, forcing me to seek employment (very hard right now) and sending my home into forclosure. Yes it is Ebay (driving sellers out of business and sending buyers packing also) NOT THE ECONOMY. Thanks Ebay for appreciating my many years of faithful service.
as an ebay seller i havestopped selling as much maybe half of last years amount. Ebay gets money to list then a nice fee when you sell plus you must use paypal and they charge you a fee. You need to sell at nearly new price to make any money. its not worth the hassel i really wouldnt mind feebay going under.