In the past decade, however, eBay has shifted more towards fixed-price “buy it now” listings, which encompasses most of its sales. Its initial focus was on connecting buyers with online sellers of used or collectible items in auction-style listings. Though Amazon sees about three times the annual gross merchandise volume (GMV), eBay is still the second leading marketplace in the U.S.ĮBay was founded by Pierre Omidyar and, unlike Amazon, it was built to be a true peer-to-peer online marketplace. Online marketplaces keep growing in popularity as an ecommerce strategy.įrom a seller’s perspective, they are capitalizing on an existing flow of traffic to get their products in front of more eyes without having to first increase brand awareness.įrom a buyer’s perspective, it functions much like a big-box store - it’s a one-stop shop for everything they need, and the presence of competition can help keep prices low.įounded in 1995, eBay was one of the first online marketplaces – and it has remained a major player ever since.
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