Notice how the cuts are never to executive salaries that are in the millions. Instead, it's the hourly and lower paid workers that pay the price. As long as executives continue to be paid obscene figures there's always going to be cuts at the bottom where the actual workers are.
1000% correct! just like people want Politian's to take $1 yearly salary i think the CEO should take $1 salary for the year give his $18 million for the year to cover the $3 million they were fined for and have to pay the DOJ! they can also pay the salaries for those 1000 employees salaries!
Their total compensation is more than a few million. Coming up with schemes to terrorize newsletter authors requires big brain power. Worthy every penny I'm sure!@@natethegreat3602
We’re new to reselling on eBay, and this latest news isn’t deterring us. Just posted our first items today and ready to rock and roll! Keep up the great work, Kevin. We learn a lot from you.
With feebay its pretty simple. Almost all of the people that said they were ebay only are now crosslisting and making thousands on other platforms. The adding of promoted, the race to the bottom for prices, the charging for offsite promotions and even more postage increases has caused prices to go up. So its the economy as well as self inflicted in many cases. This is not doom and gloom and I will continue to sell on Ebay as well as all of the crosslisting. Thanks for all the content!
1000% i'm just dumbfounded that all those people did not do that FROM THE START of there reselling careers! i diversified from the start when i went full time in 98' but i learned that wisdom from a very smart reseller. over 25 years i have learned that ANY successful reseller Must be diversified in every aspect of there reselling business from where and how you source, to what you sell, to where you sell to the price points at what you sell your items at....if you let diversification be the CENTER of your business YOU WILL Never be stuck in a rut and the biggest thing YOU will never be beholden to ANYONE platform!
I am down over 50% in sales compared to last yr at this period. A 31 day period. Just awful. 24 yrs on Ebay and this is the worse ever. Unreal that you are selling like you do. Lucky duck! By the way, loved the video of Turner playing in the snow with Wallen running around. Adorable video! Thanks for sharing.
They probably laid off US citizens probably and probably outsourced more jobs to the Philippines. Customer service sucks and after 24 years full time on there it is just getting worse because of all the outsourcing.
Think about if you had a brick and mortar store. Your rent, utilities, time and gas to get to said location, blah blah blah would be way more expensive than a 13% fee on average. If you promote listings, that's your fault. I have some promoted listings due to market flooding but I know that and am okay with it going into it.
You are comparing apples to oranges, if the 13% fee included any of the things you rattled off I wouldn't be making this comment... but they are providing very little for the 13%... also not only as a seller do I dislike the promoted listings as a buyer when I'm searching items to purchase I don't like it either. Its a money grab for eBay to charge extra for your items to be visible and to come up within a search, thats the whole reason they earn the final value fee in the first place. As a buyer searching for items I would much rather see the results for the item I'm searching for and if I'm searching for newly listed or lowest price item, well thats exactly what I want to see the newly listed or lowest price item, I don't want to see 10 to 20 "sponsored" items first in my results. eBay just needs to go back to the way it used to be.@@maxhatty
My main criticism is that they inflate the fees by applying the percentage to the net price after taxes and shipping. I find this unethical because it goes against standard accounting practices. The total fee actually ends up being close to 20% of the base selling price.
Industries over-hired when business came back after Covid because people were spending, just happy to be out and back at it. Now that's slowing and companies need to adjust. I sell part time and will continue to do so. Thank you for all your informative talks.
I’ve had a better January sales than December. I only list on eBay with a few listings on Etsy which has seen no successful sales in almost a year. Going forward I’m considering deactivating the Etsy store. We only have an eBay starter store but are considering leveling up. It’s taken about a year to figure out what sells, how to price it & make decisions about shipping costs.
Thank you Kevin for your insightful views about what is going with EBAY and how people react to economic situations. As well, you make us all feel like family with your kind comments and accolades to others. I enjoy every session.
E-Bay needs to trim the fat, and should spend more time listening to the concerns of their sellers. It's still a great platform, but a lot of big time sellers is moving a lot of their listings to other areas. Change is inevitable in any company, but the wrong changes can destroy you. Thank you Kevin for keeping us updated on all that's happening. For now I still believe in E-Bay.
I had cortisone shots in my back and I was a different person in just a short time. I had it done twice, mine lasted 2 years and it was the most amazing thing that I have ever done for myself. It is safe and effective. My friend and brother-in-law have it done once a year. I have some arthritis and no fluid in the area of a couple of vertebrae. All in my lower back. After having it done, I was able to bend, lift, throw a ball, walk, run…. All of the things that you do with your son. I had no pain during activities or after. Just check into it. You don’t have to do it, but at least you will know about it. Mine was covered by insurance. Your Dr. will know that it is a necessary procedure, due to your pain and will see about it being covered by your insurance. I did have a small deductible. I think about this whenever you talk about your back pain and think of how it changed my life.
I put on my memo speak translator hat a little for this announcement. In my b/m retail days, I worked in the retail area of a national not-for-profit. The first word that caught my ear was "contractors." What I'm hearing is that they are dropping some non-employees who work under contract to the company. Usually their "salary" is slightly higher to make up for no company-covered benefits (though it's not the same as if they were reimbursing the contractor for all benefits: if so, then why not just have a full time employee?) Doing this helps them take a larger cut to payroll expense than if they cut the same number of full time employees. The announcement didn't say *all* the cuts were contractors, but they save more cash by cutting those folks first, and bringing their work in-house (current employees, new hires, AI, whatever...) The second thing I heard was a restructuring of teams within the company. In my experience, we went through this almost yearly as some teams were constantly being shuffled to fall under new management within the corporate tree. This opens savings by reducing redundant staff from upper management all the down to front line by combining teams, adding new responsibilities to existing teams, etc. It's a version of economy by sweeping the floors and organizing the shelves, more-or-less.When "the cotton is high" as we say down south, teams can get sloppy and a bit bloated with too many hires that don't keep pace with natural attrition. Then when times get tight, the first thing to do is clean that up, tighten the staff, and get back in line with the size teams they need to optimize productivity of the company. The next step in getting back in line will be the same thing we sellers do: increase prices to give an acceptable profit margin. More sooner than later, we sellers should expect another Seller News that says, "We have not raised our selling rates since [date] even though inflation has risen [percent]... etc. I expect that this will be worded - as always - as "good news" for sellers. In return a bone will be thrown that is something new and free for sellers that costs the company pretty much nothing or even brings in more revenue (think...50,000 free listings for store owners.) in return for some increase that will be somewhere in the 15% overall range. Of course, that last paragraph is only what my marketing crystal ball tells me, and some days it might have a smudge or some dust on it, and not get it quite right. We shall see. There will be yet another wave of "I'm quitting eBay because I can't make money/they hate sellers/it's a day that ends in Y" as more of the get-rich-quick folks fall to the wayside, left with roomsful of used junk from Goodwill that they need to unload at pennies on the dollar. I have long since stopped listening to those people and their carping, and think of that as the natural thinning of the herd that leaves more room for the rest of us. "More sales space for meeeee!!!", and all that.
Keep up the awesome work, Kevin. I feel your pain with the back. The VA permanently and totally disabled me for my back and a few other things. I highly recommend chiropractic care. It helps tremendously. I hope you feel better soon.
Mid Jan-Now my eBay sales tanked. No explanation, overnight. Sunday $500 -Monday $86 never recovered yet for 1 week. I'll give eBay credit, they are consistently INCONSISTENT.
I’ve had back pain since 2002 due to a car accident and have had multiple back surgeries,pt, Pilates, chiropractic, pain shots, you name it I have tried it. Biofreeze comes with a rough smell but does sometimes help. Rest, ice, heat and anti inflammatory medication (over the counter like Motrin) are good places to start although you have been dealing with this for a long while now….y be a bad idea to possibly seek a dr advice. Wish you the best Kevin today and always. Oh and Reagan….wow what a lovely young lady she is turning into! I can’t believe how fast they are growing up! 😢❤
I'm revamping my store this week. Free Returns are done. I've always been a big fan of providing the best service my offering free returns but lately the returns are insane. I normally get about 2 returns a year. Now? I've had 11 since the beginning of December. EVERY single one has been for size/not fitting when I provide measurements for every item. I can't do it anymore. I had hoped to go full time this year but I'm now realizing I will just continue to use it as a side hustle and keep my job.
This news does not effect me because I am reselling part time and for the fun of it. The income I make from it is nice but not desperately needed. I have a full time job that I adore. I love books and ephemera but will sell just about anything. I love the thrill of the hunt and I love getting something for nothing or very little and watching how much it brings!
CSX, a huge train transport company here in Florida, laid off 1000 people when a new CEO was hired. I hate that people get laid off, but sometimes there is a lot of excess that is simply not contributing. My daughter still works there and the company has been doing fantastic since then!
Companies often lay off not based on currently conditions but forecasted future economic conditions. eBay can see signs of weakness in many sectors and is trying to stay ahead of the curve. Just like many businesses, cutting costs is a requirement.
eBay cut the easiest spot to cut, i.e. personnel. Meanwhile, what they really ought to do is cut deadwood middle management (and C-level obscenity level salaries), onshore their customer service and fire all the script kiddies. Providing actual customer service to their customers, THE SELLERS, would improve their bottom line. Closing some of the fraud loopholes would help too. It would retain sellers, who are also their primary buyers and stop some of the bleeding. I've quit selling because I'm medically weight-restricted as to what I can sell and logisically size-restricted, and things in my expertise don't do well in a down economy. Every time I think of trying dipping my toe back in, eBay does something else blindingly stupid and..nope. Staying gone.
The other platforms especially the live ones are taking a lot of the discretionary business away from Ebay. My collectible sales were down 50% in 2023 even tho I continue to offer the same quality products.
Hi Kevin, Since you're asking,...I began selling personal items when my sons went through college to help pay for tuition and travel expenses. When the last of the three graduated, I stopped selling. Now 10 years later, I want to start selling again; this time to clear out 73 years of collecting and inheriting. I have a basement FULL of collectibles and antiques. My children are 5th generation San Franciscans and we have never moved, so you can imagine what we have to sell. Here's the issue: I am afraid I will not do well on eBay anymore. I am worried about new rules and regulations. Any advice? Thanks! Candy from SF.
The more online regulations there are the harder it is to sell overseas ! It used to be easy and we’d fill out our own customs forms .. no big deal .. 🤷🏻♀️
In my opinion shipping has hurt the reselling world the most .people do consider costs of shipping in purchase. One thing I find super controlling is putting a limit to how many items you can sell and then hitting with a listing fee. No other companies charge listing fees come on they are already taking a commission..
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with scammer selling fakes on ebay i would be not willing to trust ebay to buy the stuff
After some decent January sales, it's been crickets for the last few days. This has been a pattern over the last few months. Two or three days of sales, two or three days of zero sales. Because of this, I'm undecided on my selling future with eBay. Right now it's wait and see.
I have always had good days, then slower days, but it has gotten much worse. How can i have 8600 item, sell 18 one day, and 2 for the next two, then go up again? I have watched other sellers who sell the same types of items, and they are selling 18-25/day but many promote at as much as 12%! That is a huge cut, especially to someone like me with an ASP of 15.00.
More responsive? With less actual people? What that means is more AI to "help".... its the equivalent of self checkout, which is not actually helping anyone.
Growth stopped and they lost market share because of ONE THING ONLY and all eBay resellers MUST come to this FACT that one thing IS EBAY themselves ALL THE DECICISONs they have made under the previous CEO devin and the current CEO JAMIE this BLUNDER is ALL on ebay as a COMPANY and it shows they DO NOT know how to run a company NOR how to budget there MONEY! the statement that there expenses OUT PACED there growth! should send shivers down ALL ebay resellers spines especially those resellers that are EBAY only resellers i have been a full time ebay reseller since 98' this latest statement is REALLY bad i have never heard in 25 years a EBAY CEO come out and say there expense have OUTPACED there growth! very very bad if you read between those lines. i suggest ALL eBay ONLY resellers START to diversify RIGHT NOW period end of story!
Yah I don't like the Promoted listings concept. Almost seems like Blackmail in some cases by Ebay. And their promoted listing platform is kinda of flunky to use also. I don't like that Ebay went to charging you their Final Fee to also include your Postage charged as well. That should be a Neutral expense to the seller without fees, but its not and they continually want sellers to eat the shipping costs. Yah I get that some sellers could abuse this (shipping charges) but I think in the majority of cases they don't and eat much of those costs.
As a new subscriber I enjoy your video's. You give wonderful tips to the new Ebay peeps. I don't' think that the Ebay issues will affect me since I'm a small "bayer" and a sorta new one. I did have problems logging onto Ebay-(Ebay was taking too long to respond) I had to call numerous times to have it corrected now I know why!!! I will scroll your videos on tips for how to ship various items, I still seem to struggle with it sometimes. I have to find boxes to fit the items and then weigh them, I'm sure there is a more streamline way to do this. If you can offer any tips, I would appreciate it. I also love how you take time out of picking to pet the doggo's at the sales that's my favorite part. Keep up the good work and may good luck and fortune follow you and your family.😘🐕
You think Ebay would become more competitive with other platforms out there charging less to sell on them to get back on top. As sellers we need to expand to other platforms with crosslisting to make the sale. I started crosslisting in 2023 and it was a good business decision.
1000% i started to Diversify right from the start 25 years ago (yes its really called diversification not cross listing that is just the YT slang) i was taught by a very wise reseller in 98' to make Diversification the center of your business diversify what you sell (meaning do not stick to once niche have MANY) diversify where you sell (we all know this sell EVERYWHERE YOU CAN) diversify where and how you source and most importantly (at least in my opinion) diversify price points (low medium and high dollar items have a healthy mixture) i have done this model since i went full time in 98' on ebay amazon and yahoo auctions the big 3 at that time and IT HAS never done me wrong! this model got me through the 08' recession!
The stock market is constantly wanting continued growth and that is impossible. But every place decides or at least most to cut jobs to sacrifice for the stock. Not that it isn’t for the reasons you suggest too, but I’ve watched the market since I was a kid and it crashed in 87. This dynamic forces businesses to have masters that only benefit monetary and not from the product or service they provide. I’m double from last year and January than last year myself. I think eBay will last if for no other reason is name recognition and longevity. Will it be as big no but it will be there.
I was a eBay buyer. Shipping cost is now outrageous…. My last couple of buys? One Seller lie of a fishing reel I brought…I spend $75 to a repair shop to fix it. Seller refuse buy back. Next seller mentions free shipping ..I ask to Hawaii…he mentions ok… I paid the asking price..later a email was sent asking $11.00 more to ship. Plus a few bad experience with “bad sellers”… I NO longer buy from EBay…! I tried to cancel ..but I had a difficult time dong it. No helpful response from eBay techs.. eBay is only as good as their sellers…the bad ones you will never forget…
eBay was never growing they fudged the numbers to make it look like growth by taxing the eBay seller with cost for offline promotions and promotion whitin the app. Them intentionally slowed down to almost zero for organic sales forcing the sellers to pay promotions. To show growth to its shareholders not to mention buying back their own stock. And you wonder why what not is taking over. And I hate what not. I know for a fact that what not killed my sales in trading cards. Now I’m having to diversify in other areas to make revenue.
Since covid, everyone remotely connected to resale have tried to capitalize on the market, which naturally raises the prices all around. The thrift market has raised their prices. Shipping companies have raised their prices. Selling platforms have raised their prices. Ebay is doing the only thing they can, lowering their expenses. It is what everyone is having to do to survive.
stop making excuses for eBay! sorry but there expenses out pace there GROWTH this is a company that has been around for 30 years!! That statement should send shivers down all eBay resellers spines (it should tell all that they are in HOT WATER finically and that the past 2 CEO's do not know how to run a company or they would be saying there growth has outpaced there expense so we are hiring) sorry the SHIPPING COMPANIES have always raised there prices twice a year like clock work Jan and June this has been going on for at least 10 years so not sure where you been all that time so eBay does not get to use that as an excuse! as for other platforms raising there fees etsy raised there fees from 3.5% to 5% in 2018 to 6.5% in 2022 they have not raised there price since btw ebay raises fees MOSTLY every year again like clock work don't think ebay is not going to be raising fees they did it last feb 2023 its going to happen next month! i have been a reseller on ebay full time since 98' and amazon as well the same since 98's now on 10 plus platforms! here is a comment that someone left on ecommercebytes under one of there articles they posted in Jan 2023 about the 28 year history for ebay fees btw the Original fee for ebay in 1995 was 3% most categories are around 9 or 10% so not much of an increase in 28 years! "Last 2 CEO's were fired and now the 3rd still thinks copy amazon and walmart is the best path forward and the vault is a joke. I am scrambling to prepare for what to do when ebay either prices out quality items or just plain folds. Lots of tough choices ahead but one thing is clear...crypto altcoins have a brighter future........" that person is 1000% correct ALL eBay resellers need to be doing and thinking the same thing! we need to stop blaming everything elese an call a spade a spade and start to blame who is rightfully to blame EBAY themselves!
It does’t surprise me that EBay laid off lots of people. The hourly wage in CA is so high that they saved a ton of money by laying off people. They also incurred a cot when they opened whatever that storage vault thing is. I think that was a stupid thing for them to do. But at the hourly wage, they just boosted their revenue by a lot.
Pretty simple with the eBay article, they still are profitable but you know. It's never enough profit so they had to layoff people to please the investors pockets. If they were a decent company, they would look out for their sellers.
They didn’t layoff just lower pay workers. Product managers, marketing managers, and director level employees were laid off. That doesn’t change the fact that the CEO says all this about downsizing while bringing in 17mil a year
Everyone needs to stay calm and understand there's now thousands of resellers and with utube widely watched there's going to be a lot more, sales will be down.
Its ironic isn't it? I remember the working class being mocked, told to "learn to code". Well, looks like all those tech people who mocked the working class man better learn how to manual labor. When they spoke on AI taking over jobs, they didn't mean the manual labor jobs, they meant the tech jobs. These companies already knew, with AI they could cut a large portion of their labor force and save a ton of money. Thats why they are all so gunhoe about it.
When the big sellers migrate to other platforms and sell less on ebay, then they lose revenue because someone else is getting the selling fees for their items, also because those sellers often have a lot of followers(buyers) who follow them to the other platform, so they lose buyers too.
Many of the tech companies are laying off right now. They are used to printing money, where employee level and benefits were growing. It's now time to lean out as they are a stable, low to no growth company. There are a lot of new platforms out there, all taking a piece of eBay's business.
Are you referring to 'all used items not to be taxed or just certain ones. If all, then it would take a whole lot of tax money out of the system. If that happened, just brace for taxes to go up to replace what was taken away.
@@leebrown9658 The internet sales we’re not taxed until recently. USPS is more now. Together it is slowing trade. That tax revenue was never in the system. Online sellers are making less, thus spending less in the economy. It was a cheap grab for revenue and it has a negative effect.
@@commonwealthflipper You mean the government control spending? What? How could you say that they don't spend properly? You know something? You are 100% right, there needs yo be more business people in government.
@@joegibson6041 the sales tax is a STATE thing not a FED thing! hope you understand that! by the way USPS makes Price increases EVERY YEAR twice a year like clock work at least for the last 5 to 10 years so where you been all that time under a rock! both of these things that you say are effecting buyers its nothing new they both been around for years! i should know i have been reselling full time since 98' both on ebay and amazon and yahoo auctions now 25 years later on 10 plus platforms! so yep i talk from experience!
If it is anything like my lifetime career in corporte IT there are a lot of people who waste a lot of time while "working" in essence stealing from the employer. Seemed there was always a lot of fat to cut.
eBay has made so many bad decisions, imagine having a multi billion dollar company , a household name, and letting a guy selling books out of his garage crush you! That’s exactly what happened with Amazon. eBay should have bought Amazon back in the day or atleast done something to compete against them, but nope, just let some dude in his garage totally crush them, pathetic!
No, eBay should have absolutely NOT bought Amazon! What they should have done was let Amazon sell new junk China and solely focus on selling used and collectibles and do that excellently. Didn’t happen and now eBay is sad knock-off of Amazon.
1,000,000% correct THIS IS what all ebay resellers NEED TO BE repeating on every SOCIAL media outlet they can! this needs to be stated and repeated as much as possible! this is FACT all must come to that realization and i have been a full time reseller on both amazon and eBay since 98' SO I SAW it first hand from both sides of the equation! eBay is coming to an end no matter if you agree with that or not the WRITING financially has been on the wall since 2015 they have been on decline since and everything they have done in the last 5 years is now finally coming to ROOST........in my 25 years on both platforms not once in any statements have i seen an eBay CEO state "expenses have out Paced growth" this one statement SHOULD be sending Shivers Down all 18 million active ebay sellers! if you know how to read between the eBay lines you will know what i mean!
I hope they are removing a big portion of their incompetent outsource customer service reps. It took over 12 different reps to solve a problem I had. 6 month later I am still waiting for a promised return call from a supervisor and a tech support person. I finally got a US rep and the problem was solved in hours. Ebay needs to put more value on their sellers.No sellers..no Ebay!!
Hi Kevin, It's typical for major companies like #ebay to make changes like this during tax and election season. It's marketing 101 to create growth you have to make changes that are for the need of the bigger picture...
Well, the way I read it “between the lines” is eBay is down sizing because they don’t want to pay higher wages that many states had going into effect this year. Why I think this is because eBay doesn’t need to acquire any goods to produce so the only “costs” they are incurring that are higher are labor costs. They seem to be insinuating they will be improving customer service with less people and we all know that isn’t really possible. Seems they are saying that A.I. will be taking over more of the work load which actually means less customer service. 😢 BTW, my Q-4 was better in 23 than 22. Lots of Christmas decorations went out.
read between the lines there expense out paced there GROWTH it should send shivers down all ebay resellers spines! how can a company that is suppose to be the TOP DOG when it comes to reselling used items have there expenses out pace there growth!! we don't see amazon saying this we dont see Walmart saying this heck we don't even see ETSY saying this! over the last 10 years if you look at eBay's fincials in revenue earnings (nets) and GMV % wise year over year they were either stagnant in the red or if they did make any growth is very minimal single digit % growth while there ECOMMERCE competition have been blowing them out of the water.....also ebay is losing millions of buyers every quarter while etsy is gaining millions of buyers every quarter ebay has 128 million active buyers etsy has 96 million active buyers etsy is on track to surpass ebay in the next year or 2 in active buyers! but heck when it comes to ebay the only company of there size that for at least 5 years or longer has refused to do traditional advertising and in 2023 has decided its no longer going to advertise on GOOGLE (well they are but they are making there SELLERS pay for there advertising.....this is not a good sign its definatly not a sign of a company that is doing FINCIALLY well!) with ebay you have to always be reading between the lines this is what i learned 25 years ago when i went full time! the writing is all over the wall you just have to look for it!
Payroll isn't ebays biggest expense, it is lawsuits and settlements. Most recently 3 million for the terror campaign and crimes committed against the Steiners. And it's not over yet. Another suit is scheduled in 2025 which will likely be just as costly, not even talking about the legal expenses for all the attorneys involved. If you have not heard about it, google it, it is disgusting and quite unbelievable.
welll the CEO just stated HIS WAY is the RIGHT WAY there is NO REVERSING course or going back the reason is because if ebay were to reverse course now in the CEO's eyes it would mean his DIRECTION of the FUTURE of ebay was a failure and he has an ego and does not want to look like a failure (yet he was a failuer at Barnes and nobles , at walmart and at sams club!) so Instead of doing the RIGHT thing the company (which includes sellers) he rather go full steam ahead with HIS (and the previous CEO Devin) vision of the future of eBay even IF THat means Ebay folds he does not care because his EGO will be in tact (so he thinks) but if ebay folds ON his watch ITS ON HIM and ONLY him but you know JAMIE he will blame everything under the SUN he will accuse the economy, the wars in Russia and Israel he will blame everything and everyone EXCEPT for himself and EBAY as a company!
I was wanting to edit some old videos and was wondering if you could help point me in the right direction of what editing software I could use FREE not a lot but mainly deleting some parts?
I need eBay because I’m on SS and I’m not savvy on computer they are definitely on the shady side when it comes to the sellers.😊 I so happy you can take care of your family now I know what it means to be down😊
The Ebay job cuts only bother me for 2 reasons. #1 - 1,000 probably nice people are losing their jobs. #2 - This seems indicative of the loss of market share that Ebay is having. With but a few easy changes Ebay could at least partially right it's ship. Ebay is my 95% sales platform and will continue to be so I guess until they are just dust in the wind.
100% but what we all need to worry about and read between the lines is "expense out pace growth" this means they are NOT MAKING MONEY or SUCK at managing there money! but from there financial statements for the last 10 years they have been on a decline if they had any year of year growth % wise its ONLY been in the single digits compared to the periods 2002-2007 they had HUGE double digit growth in revenue, earnings and GMV same with the periods 2011-2013 since 2015 its either very small single digit growth or negative growth in revenue earnings (net) and GMV the writing has been on the wall for a long time its just now catching up to them......FACT is this is what happens to a company that is no longer a household name that goes cold turkey on traditional advertising and then in 2023 decides we will make our sellers PAY for our responsibility as a website owner and pay for Google advertising so not just traditional advertising (on tv) but now On traditional advertising via GOOGLE! by making that decision they have hit the hyper drive button on SINKING THE SHIP
eBay Not Growing: it’s interesting to see eBay plod along doing the same old things (sometimes badly) while “Upstarts” (as you call them) steal their market share and big ole standbys like Amazon branch out into new areas like Amazon Pharmacy and Amazon Shipping services. eBay, on the other hand tries to push AI customer service and worsening support on Sellers, while raising Seller costs via higher fees and ridicules Promoted Listing recommended percentages.
Do we know what jobs they're cutting?? Could be mostly newly created ones that aren't turning out to be useful/profitable like all their authenticators and such? I know as a trading card guy people in the tc community have really mostly hated the whole extra step. Maybe they're nixing some.of this stuff.
Your store is probably the issue. Look at what you have. Be realistic, and price things according to current market. I have a bunch of "junk" in my store and it slowly sells. My future picking will fix my issues.
Notice how the cuts are never to executive salaries that are in the millions. Instead, it's the hourly and lower paid workers that pay the price. As long as executives continue to be paid obscene figures there's always going to be cuts at the bottom where the actual workers are.
Rich man of Richmond
how the world works. wake up
I was going to say everyone with a title of Director up to CEO should take a 9% compensation cut for this year and next year.
1000% correct! just like people want Politian's to take $1 yearly salary i think the CEO should take $1 salary for the year give his $18 million for the year to cover the $3 million they were fined for and have to pay the DOJ! they can also pay the salaries for those 1000 employees salaries!
Their total compensation is more than a few million. Coming up with schemes to terrorize newsletter authors requires big brain power. Worthy every penny I'm sure!@@natethegreat3602
We’re new to reselling on eBay, and this latest news isn’t deterring us. Just posted our first items today and ready to rock and roll! Keep up the great work, Kevin. We learn a lot from you.
With feebay its pretty simple. Almost all of the people that said they were ebay only are now crosslisting and making thousands on other platforms. The adding of promoted, the race to the bottom for prices, the charging for offsite promotions and even more postage increases has caused prices to go up. So its the economy as well as self inflicted in many cases. This is not doom and gloom and I will continue to sell on Ebay as well as all of the crosslisting. Thanks for all the content!
1000% i'm just dumbfounded that all those people did not do that FROM THE START of there reselling careers! i diversified from the start when i went full time in 98' but i learned that wisdom from a very smart reseller. over 25 years i have learned that ANY successful reseller Must be diversified in every aspect of there reselling business from where and how you source, to what you sell, to where you sell to the price points at what you sell your items at....if you let diversification be the CENTER of your business YOU WILL Never be stuck in a rut and the biggest thing YOU will never be beholden to ANYONE platform!
I am down over 50% in sales compared to last yr at this period. A 31 day period. Just awful. 24 yrs on Ebay and this is the worse ever. Unreal that you are selling like you do. Lucky duck! By the way, loved the video of Turner playing in the snow with Wallen running around. Adorable video! Thanks for sharing.
They probably laid off US citizens probably and probably outsourced more jobs to the Philippines. Customer service sucks and after 24 years full time on there it is just getting worse because of all the outsourcing.
eBay is hurting themselves with their fees, its gotten ridiculous... I'm also never been a fan of the "promoted "/sponsored item option.
Think about if you had a brick and mortar store. Your rent, utilities, time and gas to get to said location, blah blah blah would be way more expensive than a 13% fee on average. If you promote listings, that's your fault. I have some promoted listings due to market flooding but I know that and am okay with it going into it.
You are comparing apples to oranges, if the 13% fee included any of the things you rattled off I wouldn't be making this comment... but they are providing very little for the 13%... also not only as a seller do I dislike the promoted listings as a buyer when I'm searching items to purchase I don't like it either. Its a money grab for eBay to charge extra for your items to be visible and to come up within a search, thats the whole reason they earn the final value fee in the first place. As a buyer searching for items I would much rather see the results for the item I'm searching for and if I'm searching for newly listed or lowest price item, well thats exactly what I want to see the newly listed or lowest price item, I don't want to see 10 to 20 "sponsored" items first in my results. eBay just needs to go back to the way it used to be.@@maxhatty
My main criticism is that they inflate the fees by applying the percentage to the net price after taxes and shipping. I find this unethical because it goes against standard accounting practices. The total fee actually ends up being close to 20% of the base selling price.
I hear the name Marsha, and automatically in my head I hear, "Marsha, Marsha, Marsha!", lol.
Industries over-hired when business came back after Covid because people were spending, just happy to be out and back at it. Now that's slowing and companies need to adjust. I sell part time and will continue to do so. Thank you for all your informative talks.
Very well said and true
I love how your kids are part of your show. Great way to teach them Entrepreneurship !
I’ve had a better January sales than December. I only list on eBay with a few listings on Etsy which has seen no successful sales in almost a year. Going forward I’m considering deactivating the Etsy store.
We only have an eBay starter store but are considering leveling up. It’s taken about a year to figure out what sells, how to price it & make decisions about shipping costs.
Same, I’m 53% better this month than last on eBay.
I’m about to level up too as well
@@Kelly-nd3cz best of luck to you.
Thank you Kevin for your insightful views about what is going with EBAY and how people react to economic situations. As well, you make us all feel like family with your kind comments and accolades to others. I enjoy every session.
E-Bay needs to trim the fat, and should spend more time listening to the concerns of their sellers. It's still a great platform, but a lot of big time sellers is moving a lot of their listings to other areas. Change is inevitable in any company, but the wrong changes can destroy you. Thank you Kevin for keeping us updated on all that's happening. For now I still believe in E-Bay.
I had cortisone shots in my back and I was a different person in just a short time. I had it done twice, mine lasted 2 years and it was the most amazing thing that I have ever done for myself. It is safe and effective. My friend and brother-in-law have it done once a year. I have some arthritis and no fluid in the area of a couple of vertebrae. All in my lower back. After having it done, I was able to bend, lift, throw a ball, walk, run…. All of the things that you do with your son. I had no pain during activities or after. Just check into it. You don’t have to do it, but at least you will know about it. Mine was covered by insurance. Your Dr. will know that it is a necessary procedure, due to your pain and will see about it being covered by your insurance. I did have a small deductible. I think about this whenever you talk about your back pain and think of how it changed my life.
I put on my memo speak translator hat a little for this announcement. In my b/m retail days, I worked in the retail area of a national not-for-profit. The first word that caught my ear was "contractors." What I'm hearing is that they are dropping some non-employees who work under contract to the company. Usually their "salary" is slightly higher to make up for no company-covered benefits (though it's not the same as if they were reimbursing the contractor for all benefits: if so, then why not just have a full time employee?) Doing this helps them take a larger cut to payroll expense than if they cut the same number of full time employees. The announcement didn't say *all* the cuts were contractors, but they save more cash by cutting those folks first, and bringing their work in-house (current employees, new hires, AI, whatever...)
The second thing I heard was a restructuring of teams within the company. In my experience, we went through this almost yearly as some teams were constantly being shuffled to fall under new management within the corporate tree. This opens savings by reducing redundant staff from upper management all the down to front line by combining teams, adding new responsibilities to existing teams, etc. It's a version of economy by sweeping the floors and organizing the shelves, more-or-less.When "the cotton is high" as we say down south, teams can get sloppy and a bit bloated with too many hires that don't keep pace with natural attrition. Then when times get tight, the first thing to do is clean that up, tighten the staff, and get back in line with the size teams they need to optimize productivity of the company.
The next step in getting back in line will be the same thing we sellers do: increase prices to give an acceptable profit margin. More sooner than later, we sellers should expect another Seller News that says, "We have not raised our selling rates since [date] even though inflation has risen [percent]... etc. I expect that this will be worded - as always - as "good news" for sellers. In return a bone will be thrown that is something new and free for sellers that costs the company pretty much nothing or even brings in more revenue (think...50,000 free listings for store owners.) in return for some increase that will be somewhere in the 15% overall range.
Of course, that last paragraph is only what my marketing crystal ball tells me, and some days it might have a smudge or some dust on it, and not get it quite right. We shall see.
There will be yet another wave of "I'm quitting eBay because I can't make money/they hate sellers/it's a day that ends in Y" as more of the get-rich-quick folks fall to the wayside, left with roomsful of used junk from Goodwill that they need to unload at pennies on the dollar. I have long since stopped listening to those people and their carping, and think of that as the natural thinning of the herd that leaves more room for the rest of us. "More sales space for meeeee!!!", and all that.
Nice shirt! My son and I have the same one!!!! He's 9 and love that old school stuff. Thanks for the great content per usual
Keep up the awesome work, Kevin. I feel your pain with the back. The VA permanently and totally disabled me for my back and a few other things. I highly recommend chiropractic care. It helps tremendously. I hope you feel better soon.
Mid Jan-Now my eBay sales tanked. No explanation, overnight. Sunday $500 -Monday $86 never recovered yet for 1 week.
I'll give eBay credit, they are consistently INCONSISTENT.
I suspect the issue is not lack of business but possibly more AI doing the work and they don't need the actual people? Just a thought.
Their revenues has flatlined because they raised fees to increase revenue and it ran off sellers.
I’ve had back pain since 2002 due to a car accident and have had multiple back surgeries,pt, Pilates, chiropractic, pain shots, you name it I have tried it.
Biofreeze comes with a rough smell but does sometimes help.
Rest, ice, heat and anti inflammatory medication (over the counter like Motrin) are good places to start although you have been dealing with this for a long while now….y be a bad idea to possibly seek a dr advice.
Wish you the best Kevin today and always.
Oh and Reagan….wow what a lovely young lady she is turning into! I can’t believe how fast they are growing up! 😢❤
I'm revamping my store this week. Free Returns are done. I've always been a big fan of providing the best service my offering free returns but lately the returns are insane. I normally get about 2 returns a year. Now? I've had 11 since the beginning of December. EVERY single one has been for size/not fitting when I provide measurements for every item. I can't do it anymore. I had hoped to go full time this year but I'm now realizing I will just continue to use it as a side hustle and keep my job.
Back pain. I wish I had tried inversion for part of it before surgery. Praying for pain relief.
This news does not effect me because I am reselling part time and for the fun of it. The income I make from it is nice but not desperately needed. I have a full time job that I adore. I love books and ephemera but will sell just about anything. I love the thrill of the hunt and I love getting something for nothing or very little and watching how much it brings!
Just saw the eagle, globe and anchor on your hat. Semper Fi.
I look forward to watching and learning from you.
CSX, a huge train transport company here in Florida, laid off 1000 people when a new CEO was hired. I hate that people get laid off, but sometimes there is a lot of excess that is simply not contributing. My daughter still works there and the company has been doing fantastic since then!
Companies often lay off not based on currently conditions but forecasted future economic conditions. eBay can see signs of weakness in many sectors and is trying to stay ahead of the curve. Just like many businesses, cutting costs is a requirement.
Ebay layoffs don't mean much as reselling of used items is a growing industry and the amount of items to resell is endless.
eBay cut the easiest spot to cut, i.e. personnel. Meanwhile, what they really ought to do is cut deadwood middle management (and C-level obscenity level salaries), onshore their customer service and fire all the script kiddies. Providing actual customer service to their customers, THE SELLERS, would improve their bottom line. Closing some of the fraud loopholes would help too. It would retain sellers, who are also their primary buyers and stop some of the bleeding. I've quit selling because I'm medically weight-restricted as to what I can sell and logisically size-restricted, and things in my expertise don't do well in a down economy. Every time I think of trying dipping my toe back in, eBay does something else blindingly stupid and..nope. Staying gone.
The reason so many of us reseller is to keep making it even when times get tough.
Good topic Kevin, quite a lesson on economics, and a great way to keep us viewing right up to the end, using a BRM thumbnail lol 😉👍
Lol. She would love to be fired
The other platforms especially the live ones are taking a lot of the discretionary business away from Ebay. My collectible sales were down 50% in 2023 even tho I continue to offer the same quality products.
Hi Kevin, Since you're asking,...I began selling personal items when my sons went through college to help pay for tuition and travel expenses. When the last of the three graduated, I stopped selling. Now 10 years later, I want to start selling again; this time to clear out 73 years of collecting and inheriting. I have a basement FULL of collectibles and antiques. My children are 5th generation San Franciscans and we have never moved, so you can imagine what we have to sell. Here's the issue: I am afraid I will not do well on eBay anymore. I am worried about new rules and regulations. Any advice? Thanks! Candy from SF.
Try..that's all you can do.Do you worry about ..what might every day?? Jump in....you can't win with scared money!!
Thanks! @@carmenwagner634
The more online regulations there are the harder it is to sell overseas ! It used to be easy and we’d fill out our own customs forms .. no big deal .. 🤷🏻♀️
Shipping has gotten ridiculous as well and even for Canada which is close, well for me.
that's very true! use to get daily overseas sales!
I am out of ebay for some years now with our vintage shop. I sell locally online and at design sites like whoppa. Never regret it!
In my opinion shipping has hurt the reselling world the most .people do consider costs of shipping in purchase. One thing I find super controlling is putting a limit to how many items you can sell and then hitting with a listing fee. No other companies charge listing fees come on they are already taking a commission..
with scammer selling fakes on ebay i would be not willing to trust ebay to buy the stuff
Hope your back gets better. The cold weather always affects mine.🙏💖❄️
Thanks for all the great information, as always 👍🏻
After some decent January sales, it's been crickets for the last few days. This has been a pattern over the last few months. Two or three days of sales, two or three days of zero sales. Because of this, I'm undecided on my selling future with eBay. Right now it's wait and see.
Absolutely agree.. there seems to be a pattern to sales, and the amount you sell… suspicious
I have always had good days, then slower days, but it has gotten much worse. How can i have 8600 item, sell 18 one day, and 2 for the next two, then go up again? I have watched other sellers who sell the same types of items, and they are selling 18-25/day but many promote at as much as 12%! That is a huge cut, especially to someone like me with an ASP of 15.00.
More responsive? With less actual people?
What that means is more AI to "help".... its the equivalent of self checkout, which is not actually helping anyone.
I feel like the economy is in much better shape than it was a few years ago. At least in America. Thank goodness.
Great illustrations on those books
This month has been bad for me I've only sold 12 item for the whole month of January :(
That statement from eBay is a whole lot of hot air sprinkled with nonsensical buzzwords.
Growth stopped, market share is declining, employees get fored and the only thing that's going up is CEO's pay. Interesting.
Growth stopped and they lost market share because of ONE THING ONLY and all eBay resellers MUST come to this FACT that one thing IS EBAY themselves ALL THE DECICISONs they have made under the previous CEO devin and the current CEO JAMIE this BLUNDER is ALL on ebay as a COMPANY and it shows they DO NOT know how to run a company NOR how to budget there MONEY! the statement that there expenses OUT PACED there growth! should send shivers down ALL ebay resellers spines especially those resellers that are EBAY only resellers i have been a full time ebay reseller since 98' this latest statement is REALLY bad i have never heard in 25 years a EBAY CEO come out and say there expense have OUTPACED there growth! very very bad if you read between those lines. i suggest ALL eBay ONLY resellers START to diversify RIGHT NOW period end of story!
Yah I don't like the Promoted listings concept. Almost seems like Blackmail in some cases by Ebay. And their promoted listing platform is kinda of flunky to use also. I don't like that Ebay went to charging you their Final Fee to also include your Postage charged as well. That should be a Neutral expense to the seller without fees, but its not and they continually want sellers to eat the shipping costs. Yah I get that some sellers could abuse this (shipping charges) but I think in the majority of cases they don't and eat much of those costs.
As a new subscriber I enjoy your video's. You give wonderful tips to the new Ebay peeps. I don't' think that the Ebay issues will affect me since I'm a small "bayer" and a sorta new one. I did have problems logging onto Ebay-(Ebay was taking too long to respond) I had to call numerous times to have it corrected now I know why!!! I will scroll your videos on tips for how to ship various items, I still seem to struggle with it sometimes. I have to find boxes to fit the items and then weigh them, I'm sure there is a more streamline way to do this. If you can offer any tips, I would appreciate it. I also love how you take time out of picking to pet the doggo's at the sales that's my favorite part. Keep up the good work and may good luck and fortune follow you and your family.😘🐕
You think Ebay would become more competitive with other platforms out there charging less to sell on them to get back on top. As sellers we need to expand to other platforms with crosslisting to make the sale. I started crosslisting in 2023 and it was a good business decision.
1000% i started to Diversify right from the start 25 years ago (yes its really called diversification not cross listing that is just the YT slang) i was taught by a very wise reseller in 98' to make Diversification the center of your business diversify what you sell (meaning do not stick to once niche have MANY) diversify where you sell (we all know this sell EVERYWHERE YOU CAN) diversify where and how you source and most importantly (at least in my opinion) diversify price points (low medium and high dollar items have a healthy mixture) i have done this model since i went full time in 98' on ebay amazon and yahoo auctions the big 3 at that time and IT HAS never done me wrong! this model got me through the 08' recession!
Anyway they can change the algorithm for us smaller sellers?
The stock market is constantly wanting continued growth and that is impossible. But every place decides or at least most to cut jobs to sacrifice for the stock.
Not that it isn’t for the reasons you suggest too, but I’ve watched the market since I was a kid and it crashed in 87. This dynamic forces businesses to have masters that only benefit monetary and not from the product or service they provide.
I’m double from last year and January than last year myself.
I think eBay will last if for no other reason is name recognition and longevity. Will it be as big no but it will be there.
I was a eBay buyer. Shipping cost is now outrageous….
My last couple of buys? One Seller lie of a fishing reel I brought…I spend $75 to a repair shop to fix it. Seller refuse buy back. Next seller mentions free shipping ..I ask to Hawaii…he mentions ok…
I paid the asking price..later a email was sent asking $11.00 more to ship.
Plus a few bad experience with “bad sellers”…
I NO longer buy from EBay…!
I tried to cancel ..but I had a difficult time dong it.
No helpful response from eBay techs..
eBay is only as good as their sellers…the bad ones you will never forget…
eBay was never growing they fudged the numbers to make it look like growth by taxing the eBay seller with cost for offline promotions and promotion whitin the app. Them intentionally slowed down to almost zero for organic sales forcing the sellers to pay promotions. To show growth to its shareholders not to mention buying back their own stock. And you wonder why what not is taking over. And I hate what not. I know for a fact that what not killed my sales in trading cards. Now I’m having to diversify in other areas to make revenue.
Hey Kevin I love your videos I'm trying to get into reselling it's a little tough for me getting started
Since covid, everyone remotely connected to resale have tried to capitalize on the market, which naturally raises the prices all around. The thrift market has raised their prices. Shipping companies have raised their prices. Selling platforms have raised their prices. Ebay is doing the only thing they can, lowering their expenses. It is what everyone is having to do to survive.
this is so true.
stop making excuses for eBay! sorry but there expenses out pace there GROWTH this is a company that has been around for 30 years!! That statement should send shivers down all eBay resellers spines (it should tell all that they are in HOT WATER finically and that the past 2 CEO's do not know how to run a company or they would be saying there growth has outpaced there expense so we are hiring) sorry the SHIPPING COMPANIES have always raised there prices twice a year like clock work Jan and June this has been going on for at least 10 years so not sure where you been all that time so eBay does not get to use that as an excuse! as for other platforms raising there fees etsy raised there fees from 3.5% to 5% in 2018 to 6.5% in 2022 they have not raised there price since btw ebay raises fees MOSTLY every year again like clock work don't think ebay is not going to be raising fees they did it last feb 2023 its going to happen next month! i have been a reseller on ebay full time since 98' and amazon as well the same since 98's now on 10 plus platforms!
here is a comment that someone left on ecommercebytes under one of there articles they posted in Jan 2023 about the 28 year history for ebay fees btw the Original fee for ebay in 1995 was 3% most categories are around 9 or 10% so not much of an increase in 28 years!
"Last 2 CEO's were fired and now the 3rd still thinks copy amazon and walmart is the best path forward and the vault is a joke. I am scrambling to prepare for what to do when ebay either prices out quality items or just plain folds. Lots of tough choices ahead but one thing is clear...crypto altcoins have a brighter future........"
that person is 1000% correct ALL eBay resellers need to be doing and thinking the same thing!
we need to stop blaming everything elese an call a spade a spade and start to blame who is rightfully to blame EBAY themselves!
It does’t surprise me that EBay laid off lots of people. The hourly wage in CA is so high that they saved a ton of money by laying off people. They also incurred a cot when they opened whatever that storage vault thing is. I think that was a stupid thing for them to do. But at the hourly wage, they just boosted their revenue by a lot.
Pretty simple with the eBay article, they still are profitable but you know. It's never enough profit so they had to layoff people to please the investors pockets. If they were a decent company, they would look out for their sellers.
Saying prayers for you!
They didn’t layoff just lower pay workers. Product managers, marketing managers, and director level employees were laid off. That doesn’t change the fact that the CEO says all this about downsizing while bringing in 17mil a year
Everyone needs to stay calm and understand there's now thousands of resellers and with utube widely watched there's going to be a lot more, sales will be down.
I tried twice to speak to someone. Two people hung up on me.
What is the best way to ship hats? I have a bunch. I don't know what to price them or how to ship. :/
Its ironic isn't it? I remember the working class being mocked, told to "learn to code". Well, looks like all those tech people who mocked the working class man better learn how to manual labor. When they spoke on AI taking over jobs, they didn't mean the manual labor jobs, they meant the tech jobs. These companies already knew, with AI they could cut a large portion of their labor force and save a ton of money. Thats why they are all so gunhoe about it.
When the big sellers migrate to other platforms and sell less on ebay, then they lose revenue because someone else is getting the selling fees for their items, also because those sellers often have a lot of followers(buyers) who follow them to the other platform, so they lose buyers too.
Good morning Kevin and family 🎉🎉🎉🎉🎉
Many of the tech companies are laying off right now. They are used to printing money, where employee level and benefits were growing. It's now time to lean out as they are a stable, low to no growth company. There are a lot of new platforms out there, all taking a piece of eBay's business.
It just hit me, we really need legislation to end taxation on used items. It would be a boon to the economy. That item was taxed when new.
Are you referring to 'all used items not to be taxed or just certain ones. If all, then it would take a whole lot of tax money out of the system. If that happened, just brace for taxes to go up to replace what was taken away.
Or. Just maybe control spending. Highly doubtful
@@leebrown9658 The internet sales we’re not taxed until recently. USPS is more now. Together it is slowing trade. That tax revenue was never in the system. Online sellers are making less, thus spending less in the economy. It was a cheap grab for revenue and it has a negative effect.
@@commonwealthflipper You mean the government control spending? What? How could you say that they don't spend properly? You know something? You are 100% right, there needs yo be more business people in government.
@@joegibson6041 the sales tax is a STATE thing not a FED thing! hope you understand that! by the way USPS makes Price increases EVERY YEAR twice a year like clock work at least for the last 5 to 10 years so where you been all that time under a rock! both of these things that you say are effecting buyers its nothing new they both been around for years! i should know i have been reselling full time since 98' both on ebay and amazon and yahoo auctions now 25 years later on 10 plus platforms! so yep i talk from experience!
....and my GIANT has arrived.... Hi Reagan!
If it is anything like my lifetime career in corporte IT there are a lot of people who waste a lot of time while "working" in essence stealing from the employer. Seemed there was always a lot of fat to cut.
eBay has made so many bad decisions, imagine having a multi billion dollar company , a household name, and letting a guy selling books out of his garage crush you! That’s exactly what happened with Amazon. eBay should have bought Amazon back in the day or atleast done something to compete against them, but nope, just let some dude in his garage totally crush them, pathetic!
No, eBay should have absolutely NOT bought Amazon! What they should have done was let Amazon sell new junk China and solely focus on selling used and collectibles and do that excellently. Didn’t happen and now eBay is sad knock-off of Amazon.
1,000,000% correct THIS IS what all ebay resellers NEED TO BE repeating on every SOCIAL media outlet they can! this needs to be stated and repeated as much as possible! this is FACT all must come to that realization and i have been a full time reseller on both amazon and eBay since 98' SO I SAW it first hand from both sides of the equation! eBay is coming to an end no matter if you agree with that or not the WRITING financially has been on the wall since 2015 they have been on decline since and everything they have done in the last 5 years is now finally coming to ROOST........in my 25 years on both platforms not once in any statements have i seen an eBay CEO state "expenses have out Paced growth" this one statement SHOULD be sending Shivers Down all 18 million active ebay sellers! if you know how to read between the eBay lines you will know what i mean!
we are so scared to crosslist, would hate for the 1 item to sell on 2 different sites... got all our eggs in one basket for now
I hope they are removing a big portion of their incompetent outsource customer service reps. It took over 12 different reps to solve a problem I had. 6 month later I am still waiting for a promised return call from a supervisor and a tech support person. I finally got a US rep and the problem was solved in hours. Ebay needs to put more value on their sellers.No sellers..no Ebay!!
Hi Kevin,
It's typical for major companies like #ebay to make changes like this during tax and election season. It's marketing 101 to create growth you have to make changes that are for the need of the bigger picture...
I'm on my way to having 300-400 listings ( with 1-2 sales a week)...should I get a store or just pay the insertion fees when I get past the 250 mark?
I would switch to a store at that point
Well, the way I read it “between the lines” is eBay is down sizing because they don’t want to pay higher wages that many states had going into effect this year. Why I think this is because eBay doesn’t need to acquire any goods to produce so the only “costs” they are incurring that are higher are labor costs. They seem to be insinuating they will be improving customer service with less people and we all know that isn’t really possible. Seems they are saying that A.I. will be taking over more of the work load which actually means less customer service. 😢
BTW, my Q-4 was better in 23 than 22. Lots of Christmas decorations went out.
read between the lines there expense out paced there GROWTH it should send shivers down all ebay resellers spines! how can a company that is suppose to be the TOP DOG when it comes to reselling used items have there expenses out pace there growth!! we don't see amazon saying this we dont see Walmart saying this heck we don't even see ETSY saying this!
over the last 10 years if you look at eBay's fincials in revenue earnings (nets) and GMV % wise year over year they were either stagnant in the red or if they did make any growth is very minimal single digit % growth while there ECOMMERCE competition have been blowing them out of the water.....also ebay is losing millions of buyers every quarter while etsy is gaining millions of buyers every quarter ebay has 128 million active buyers etsy has 96 million active buyers etsy is on track to surpass ebay in the next year or 2 in active buyers! but heck when it comes to ebay the only company of there size that for at least 5 years or longer has refused to do traditional advertising and in 2023 has decided its no longer going to advertise on GOOGLE (well they are but they are making there SELLERS pay for there advertising.....this is not a good sign its definatly not a sign of a company that is doing FINCIALLY well!)
with ebay you have to always be reading between the lines this is what i learned 25 years ago when i went full time! the writing is all over the wall you just have to look for it!
Payroll isn't ebays biggest expense, it is lawsuits and settlements. Most recently 3 million for the terror campaign and crimes committed against the Steiners. And it's not over yet. Another suit is scheduled in 2025 which will likely be just as costly, not even talking about the legal expenses for all the attorneys involved. If you have not heard about it, google it, it is disgusting and quite unbelievable.
eBay will bounce back but they need to evolve like us resellers. If they don’t, then it will go down in flames
@ABCmatt123 your comment is right on!
welll the CEO just stated HIS WAY is the RIGHT WAY there is NO REVERSING course or going back the reason is because if ebay were to reverse course now in the CEO's eyes it would mean his DIRECTION of the FUTURE of ebay was a failure and he has an ego and does not want to look like a failure (yet he was a failuer at Barnes and nobles , at walmart and at sams club!) so Instead of doing the RIGHT thing the company (which includes sellers) he rather go full steam ahead with HIS (and the previous CEO Devin) vision of the future of eBay even IF THat means Ebay folds he does not care because his EGO will be in tact (so he thinks) but if ebay folds ON his watch ITS ON HIM and ONLY him but you know JAMIE he will blame everything under the SUN he will accuse the economy, the wars in Russia and Israel he will blame everything and everyone EXCEPT for himself and EBAY as a company!
I’m confused on how you set a shipping charge when it could be bought from overseas?
eBay is running smoother with less people, they are not going anywhere...
I was wanting to edit some old videos and was wondering if you could help point me in the right direction of what editing software I could use FREE not a lot but mainly deleting some parts?
I use inshot on my phone
Kevin, put the leaking package outside. May be really bad stuff.
Thought he was taking it to the Post Office
Amazon, discord and several others are laying off too.
I need eBay because I’m on SS and I’m not savvy on computer they are definitely on the shady side when it comes to the sellers.😊 I so happy you can take care of your family now I know what it means to be down😊
How do you get away with sellijg a half empty perfume bottle? Ebay doesnt allow that i thought. They have taken down and warned me twice.
there is a catagory for used
That's the point tho, they don't allow used perfume bottles half full
The Ebay job cuts only bother me for 2 reasons. #1 - 1,000 probably nice people are losing their jobs. #2 - This seems indicative of the loss of market share that Ebay is having. With but a few easy changes Ebay could at least partially right it's ship.
Ebay is my 95% sales platform and will continue to be so I guess until they are just dust in the wind.
I love how companies say: we're cutting employees so we can offer you better service. Hmm... love to know how that works ;)
100% but what we all need to worry about and read between the lines is "expense out pace growth" this means they are NOT MAKING MONEY or SUCK at managing there money! but from there financial statements for the last 10 years they have been on a decline if they had any year of year growth % wise its ONLY been in the single digits compared to the periods 2002-2007 they had HUGE double digit growth in revenue, earnings and GMV same with the periods 2011-2013 since 2015 its either very small single digit growth or negative growth in revenue earnings (net) and GMV the writing has been on the wall for a long time its just now catching up to them......FACT is this is what happens to a company that is no longer a household name that goes cold turkey on traditional advertising and then in 2023 decides we will make our sellers PAY for our responsibility as a website owner and pay for Google advertising so not just traditional advertising (on tv) but now On traditional advertising via GOOGLE! by making that decision they have hit the hyper drive button on SINKING THE SHIP
I’m one of those old viewers who just watch for entertainment.
Why are they laying off anyone. It is owned by shareholders. It's biggest being corrupt Blackrock. One of the richest on the planet
It's silly. It's never brass who suffer.
All the big tech companies are cutting jobs this month, they waited to do this after Christmas season was over.
eBay Not Growing: it’s interesting to see eBay plod along doing the same old things (sometimes badly) while “Upstarts” (as you call them) steal their market share and big ole standbys like Amazon branch out into new areas like Amazon Pharmacy and Amazon Shipping services. eBay, on the other hand tries to push AI customer service and worsening support on Sellers, while raising Seller costs via higher fees and ridicules Promoted Listing recommended percentages.
Do we know what jobs they're cutting?? Could be mostly newly created ones that aren't turning out to be useful/profitable like all their authenticators and such? I know as a trading card guy people in the tc community have really mostly hated the whole extra step. Maybe they're nixing some.of this stuff.
Most likely customer service…. Early last year it was easy getting someone on the phone or in their chat, this year it’s nowhere near as easy
My guess is that they are moving some of their customer service to AI. For better or worse.
I'm not very concerned about the "inside baseball" of eBay. I'm making money there and that's all that matters to me.
.....in other related news, eBay will announce seller fee increase for the 2024 fiscal year.
Hey Kevin, in your opinion, do you think it would benefit eBay to do live selling like Whatnot?
They already do have live selling. Not as popular as whatnot but ebay does have live auctions.
Is the C-suite doing such a great job that the company is losing money despite charging more and more fees and taking less and less responsibility?
eBay is destroying itself. This is the worst month I've had in 15 years. Greed.....
Your store is probably the issue. Look at what you have. Be realistic, and price things according to current market. I have a bunch of "junk" in my store and it slowly sells. My future picking will fix my issues.
Probably could have sold the KC hat for more now that they're headed to the Super Bowl
Awesome wrestlemania shirt!
Kiddos have changed so much !
Hi Kevin it's me for the for the hat and bandanna looking for the Jersey for my boy any name number or plan considered he just loves the team