On Wednesday, eBay stated that it would compete leading opponent’s prices for a number of famous commodities in an exercise to attract customers.
The information follows a series of initiatives by the dealer shopping place to match e-commerce competitors, and basically set itself aside as a haven for detecting treasures online instead of products.
In the recession, eBay will ensure delivery in three days for tens of millions of products for first time- a managerial performance which Amazon.com has already gained mastery. eBay has also switched from its previous center – online auctions- against fixed price sales in line with top dealers.
At present, eBay ensures that approximately 50000 new items on its Deals site will be economical as same products sold by Amazon, Wal-Mart Stores, Target and other major dealers on the site. Customers must reach eBay’s customer service team about related price discrepancy to get a coupon they can apply at checkout.
This action may be a blow at Amazon, that economize the price-matching last year.
“Consumers are still very price conscious,” said Hal Lawton, senior vice president of North America at eBay, in an interview. “Post 2009 and 2010, value just became an even stronger consideration for where they shop and what they buy. That really hasn’t waned even though the economy has strengthened.”
eBay Deals reports for more than $1 billion (approximately Rs. 6,450 crores) of the company’s annual total stock amount – the overall cost of all the products sold on its websites. In 2016, total stock amount for its marketplace was was $79.4 billion (roughly Rs. 5,12,156 crores) .