eBay seems to be feeling the pain as other platforms like Facebook, OfferUp, Reverb, Mercari, and more, continue to attract users. These platforms aren’t as all-inclusive as eBay can be but they offer another means of something similar, and in some cases, may not even charge any fees (like Facebook Marketplace) for simply selling something.
Many other sites are taking the Facebook approach with a bit of an eBay/Craigslist hybrid solution. Which can come in handy when it comes to keeping things affordable. In addition to some of these alternatives, many big cities have local auction/liquidation companies that have taken things online making their presence much more reachable leading to a huge boom in their use.
Meanwhile, eBay suffers from the fact that it is no longer king of the online auction industry. The company is prepping to lay off 9% of its workers, will be consolidating departments together, and will be cutting back on various contracts it has. All of this as it moves to secure its value and position in the world. Hoping to keep shareholders happy in the process.
These tech companies are worried about consumer spending and where it is headed. Which I find to be a little odd since everyone I know (including myself) has been spending more than ever as of recently. Falling into bad habits of little self-rewards to help offset the stress of everything else. The only products or services I have cut back on are those that have inflated beyond reason. Like video cards that are still 200-300% more expensive than they were before the “global supply chain shortage” started.
So it could be that it isn’t so much consumer spending is down, but simply shifted to more appealing sources. eBay has become a bloated website that can be confusing for some to use, especially when selling items. Then there are all of the fees which have chased some away to more reasonable alternatives.
Once again, I’ll use myself as an example. I used to use eBay religiously to put the things I no longer want out there for sale. But not anymore. Now I use things like Facebook Marketplace and OfferUp. Before mentioning this here, I brought this to the attention of some of my colleagues here to learn about how they felt, and it seems to be a common pattern. Not many are making use of eBay for selling things and typically keep it to purchases (and even then, a lot of it is for odd bits and pieces like adapters, cables, and the sort).
So consumers are simply shifting their attention for various reasons. eBay still has a purpose in the world and likely won’t ever go anywhere. But consumers will be consumers and they are like global warming in their changes of habits.
