EBay forecasts fourth-quarter results below estimates on weak consumer spending
https://finance.yahoo.com/news/ebay-forecasts-fourth-quarter-revenue-211507625.html
Just some food for thought
Quoted from article
Rising competition from the likes of Amazon, that sells a lot of consumer staples, has amplified eBay's woes.
"We've observed softening consumer trends to date in Q4 and particular challenges in Europe, suggesting we may see a more muted seasonal uptick over the holidays," CEO Jamie Iannone said on a post-earnings call.
While U.S. online sales are expected to rise 4.8% in the crucial holiday season between Nov. 1 and Dec. 31, eBay faces stiff competition to attract traffic.
Analysts at Jefferies said earlier this month that web traffic on eBay continues to decline, with data showing a worsening trend through July to October this year.
campanaelia
·2 years agoAuto-pay has to be the biggest turn-off to buyers. I said in the beginning that would shrink the buyer pool and now that abay has added it more recently for all buyers making offers and some for auctions, you're seeing the final results it has caused.
The decline on ebay has nothing to do with the economy, I haven't sold on ebay in years and my sales keep increasing.
vintagecraze50
·2 years agoYep—It IS the economy. Even more than the competition. Something posters have been pondering on here for months.
dwise3671
·2 years agoThe economy is NEVER going back to what it was. Technology, boomers retiring, higher housing costs, etc… are things that will not backtrack. We have seen nothing yet. Just wait until until the next wave of AI displaces true middle income jobs. Disposable income is quickly declining all over the globe.
4pawsup*
·2 years agoRight now for me ebay stock is a hold. I will wait to see what the first quarter of 2024 does.
tobaccocardyahoo
·2 years agoThey do not want to say what has often been said about Ebay and Amazon buyers.
Amazon buyers are more affluent than Ebay as well as Walmart buyers. And Amazon buyers are more loyal, thanks to Prime.
And many Ebay buyers shopped on Amazon during the pandemic, and discovered they liked the service and the pricing.
Many Amazon sellers were not all that pleased with them, because they were price conscious and less respectful than Amazon buyers.
vintagecraze50
·2 years agoAmazon buyers are not necessarily , more affluent. They like that Prime membership though it is one of their fiercest selling points.
slippinjimmy
·2 years agoThat is typical for eBay to not overpromise on future results.
It could make a buying opportunity for their stock.