For the Sports Card Folks: ebay enters into agreement with COMC
Commercial agreement and an undisclosed ownership percentage:
eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and COMC, an innovator in the sports trading cards space, today announced that the companies have entered a commercial agreement to accelerate the growth of the trading card hobby. The deal also includes an eBay investment in COMC. This partnership reinforces eBay's deep commitment to supporting sellers and collectors across The Hobby, delivering innovative experiences to help them thrive and fuel their passions.....
(click link above for details....)
3 comments
valueaddedresource
·2 years ago@my-cottage-books-and-antiques this part really stood out to me:
COMC has a demonstrated ability to effectively manage a high volume of trading cards at multiple price points. eBay’s investment will help unlock access to new services for eBay customers, including making listing easier and more efficient.
Interesting, and maybe a little concerning, that eBay is turning to investing in other companies to help making the listing experience for trading cards easier and more efficient.
The scan to list function eBay introduced in 2021 never expanded beyond Pokémon, Yu-Gi-Oh!, and Magic The Gathering - they had said they were going to add sports cards at some point but it hasn't happened yet.
The Price Guide and Collections features haven't really changed much from the beta version put out in 2021 either from what I can tell.
The acquisition of TCGPlayer gave eBay the Roca Sorter that can help stores scan and sort large numbers of cards quickly and efficiently, but again it appears to be limited to certain collectable card games, not sports cards.
https://seller.tcgplayer.com/articles/the-roca-sorter-image-recognition-and-automation-in-your-store/
It definitely sounds like they are planning to leverage the investment/partnership with COMC to help out with improving the listing process in ways that eBay hasn't been able to figure out themselves.
I have to wonder if COMC is a possible future acquisition target for eBay, though with the newfound focus on "expense discipline" expressed by CFO Steve Priest in the Q3 earnings call and economic uncertainty going into 2024 as well as a reported hiring freeze currently in effect across most of the company, I don't expect they would pull the lever on an acquisition until further into 2024, if at all.
my-cottage-books-and-antiques
OP2 years ago@valueaddedresource
I haven't looked at this too closely, but my impression is the business model is quite different from ebay, and I do know ebay sellers have been going there to sell, so ebay may have been losing market share to COMC. By taking a stake in it, they at least will be able to share in COMC's success rather than just lose ground to COMC. It's like a businessman donating to both parties...cover all the bases so he has influence no matter who wins LOL
But yes, this could be another case of ebay's "tech led reimagination" being borrowed or acquired rather than coming from in-house efforts.
Another concern is that this is ebay putting out money to shore up an apparently somewhat threatened existing Focus Category, but where are the new Focus Categories? If I recall, when Jamie first announced all this, the timeline was the FCs would all be rolled out by 2025. He's got a ways to go to meet that goal.
I don't sell sports cards, but it will be interesting to see the reactions from sellers who use both ebay and COMC.
I honestly was half expecting ebay to roll out Home and Garden or Pre-Owned fashion this past year as Focus Categories, but the only new thing I remember is "street wear" which is basically just a sneakers spin off.
And, just want to add: both Amazon and Shopify announced record Cyber Five weekends. So far, ebay has had nothing to say about Cyber Five results. Let's hope it's because the total GMV was so high they are still adding it up (alas, my own contribution set no records)
my-cottage-books-and-antiques
OP2 years ago@valueaddedresource As to ebay and Cyber Five, Jamie had this to say on his Linked In page:
"As we look at the top shopping trends emerging this season, more people are choosing pre-loved and refurbished items for their holiday gifting than ever before. eBay has been a champion of the circular economy for decades, and it’s encouraging to see a new generation shopping differently.
In fact, new research reveals that 60% of Gen Z plan to shop for pre-loved or refurbished items this holiday, a significant shift in consumer behavior. We saw this play out on eBay over Thanksgiving weekend, with more searches and sales of refurbished inventory — from brands like Sonos and Dyson — and vintage fashion items, ranging from classic streetwear to luxury watches.
I’m proud of eBay's role as a recommerce catalyst, helping shoppers to save money during the holidays while reducing their environmental impact. And with this changing consumer mindset around pre-owned products, more people are discovering unique and personal holiday gifts that only eBay can deliver."
Kind of short on stats though.
Also, I find it amusing to read things like " eBay has been a champion of the circular economy for decades."
Not exactly. Millions of small ebay sellers championed the "Circular economy" (Ie, sold used stuff) while ebay management spent years trying to become a "new, in season" site like Amazon. It was only after ebay's complete failure to do so that management embraced the "Circular economy"...which was pretty much the only choice they had.
Oh, and note, refurbished, streetwear, and luxury watches: all Focus Categories. Jamie just can't bring himself to show any love to the rest of the stuff on the site LOL