The thought that the former internet auction powerhouse may have to tweak it's approach is intriguing. Apparently, eBay buyers are short attention spanned when it comes to the longevity of enjoyment of the thrill of the hunt. That is, once you've outbid the competition and received the high, bid winners are ready to move on to their next purchase high.
Currently, EBay's "Buy It Now" business, where shoppers can purchase items at a set price even when the merchandise is also listed in an auction, makes up 42% of all goods sold on eBay. It's growing at an annual 22% pace, the fastest among eBay's shopping businesses.
Ebay has a new CEO who is spearheading changes to make eBay more friendly to users who favor one-click shopping. The former CEO Meg Whitman ended was successful with the ad campaign that championed auctions, urging consumers to "Shop Victoriously . In May, eBay announced a partnership with Buy.com to sell a large swath of the retailer's inventory for set prices.
But as eBay has recently appeared to be focusing with the plight of buyers, sellers have been outraged by changes in pricing structures.EBay sellers organized a weeklong sales boycott in protesting the changes . EBay's site has nearly 90 million active users. Other auction sites such as Ubid.com (ubhi.ob.OB) have far fewer visitors. Ten-year-old Ubid had 181,000 active bidders in the first quarter, according to its quarterly report.
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