eBay’s Q1 2022 Business Results

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Yesterday we released eBay’s Q1 earnings report with strong results. Here are some of the key takeaways:

• eBay performance came in at the high end of expectations. In the first quarter of 2022, we reported $19.4 billion GMV and 142 million daily active buyers. 
• Our strategy remains sound, smart and durable. Sustained investment in focus categories continues to pay off, as we double down on trust and authenticity, innovation, and engaging enthusiast communities.
• eBay’s purpose is translating into a powerful differentiator, especially with younger consumers.

From almost every angle, we saw a strong start to a new year. This is further proof that our long-term strategy and investments continue to boost eBay’s overall performance, even in the face of global macroeconomic uncertainty. As we look forward to the rest of 2022 with more potential near-term headwinds, one thing is clear: we are confident the business will remain resilient and that we’re steadily tracking towards becoming the eBay of the future.  

We continue to identify key categories, to build up the communities where eBay has the greatest potential, and to focus on nailing the fundamentals of trust. This is setting us up for success - to weather today’s challenging economic headwinds, and ultimately accelerate through them. You, our sellers, unfailingly deliver for our buyers around the world, and I’m grateful and proud for your critical role in these results. 

Focus categories continue to accelerate 

For more than 24 months, we’ve invested in improving the end-to-end experience for buyers and sellers. Our focus categories have expanded to now include watches, sneakers, handbags. P&A, Refurbished and trading cards—and most are the fastest growing businesses on eBay. 

Most notably, the launch of Authenticity Guarantee continues to pay dividends among our now 18 million enthusiast buyers, who make up 71% of all goods sold on eBay—spending an average of $3,000 each year and shopping 30 times each year.

Some other interesting statistics: 

• Our luxury watch category continues to grow at double-digit rates. We’re now authenticating watches over $2,000 in three markets, and recently added an opt-in Authenticity Guarantee for watches valued at $1,000-$2,000.
• We expanded luxury handbag authentication to two new markets, the UK and Australia, and extended the service to mens’ bags in the U.S. 
• In sneakers, celebrity collaborations are in high gear. From partnerships with star athletes like PJ Tucker to paying tribute to the top women of sneaker culture, the sneaker headlines keep rolling in at the same that time that customer satisfaction (CSAT) is at near-historic levels and GMV is growing significantly faster than the rest of the business. 
• We continue to enhance—and market—Motors, Parts & Accessories to capitalize on ongoing supply-chain logjams and drive more people to the site as they look to extend the life of their current vehicles. In fact, I hope you had a chance to see the eBay Auto Parts Show in New York last month, where several top influencers showcased their restored and custom rides, and helped us generate three billion media impressions in a single week!
• Trading cards remains one of our most robust businesses, where we extended Authenticity Guarantee to un-graded cards above $750 and launched the Vault to transform our collectibles business. This week, we announced our new partnerships with CGC, CSG and PSA to leverage their world-class grading precision and expertise—and take eBay’s trading cards game to the next level.
• And we continue to meet and tackle the rising demand for pre-owned and used goods by expanding our Refurbished program to smartwatches, mobile devices, desktops and other categories.  

Tech and experience investments ramp up 

I’m energized by the pace of our innovations, and eBay is committed to investing in even more features to help you grow your businesses. In Q1 alone we made site-wide enhancements to better showcase your brands, to drive more free traffic, to make it easier for enthusiasts to find your stores, and to encourage buyers to ‘save’ favorite sellers. Fun fact: buyers who save a seller are more than twice as likely to repurchase an item! We will continue to heavily invest in trust, user experience, and new tech and marketing.  

Leading with purpose 

GenZ is expected to be the dominant global consumer and economic driver in just a few years. 73% of our GenZ buyers say the main reason they shop on eBay is for our economic value, but they also base their decisions of where and what to buy on their strong beliefs in sustainability, community and brand purpose. That’s why our solid progress on impact issues, like helping to avoid 1.5 million metric tons of carbon emissions through recommerce, or the generous donations of over $36 million this quarter through eBay for Charity, will continue to factor heavily in eBay’s day-to-day operations. 

To be continued 

The past two years have been truly extraordinary, but I feel like eBay’s direction and mission have never been more relevant. We are in the enviable position of having set eBay up for long-term success, and will continue to lean into the best our marketplace can be by making bold moves. There is so much opportunity ahead, and we are deeply committed to driving your business growth—now and into the future. 

Thank you for selling on eBay. 

Jordan Sweetnam

SVP + General Manager, Americas Market

eBay’s full Q1 2022 Earnings Results can be viewed here.