All the magic of what's special about eBay is there in terms of the passion of the community, the way they lean in. What I'd say from there is that we have flexibility. How do you think the consumer is faring right now? So we're continuing to look at ways to make it easier to sell on eBay to bring those sellers on. Jamie Iannone is the newest eBay CEO and the following are a few things to know about him and his new role. When you think about the consumer experience, how would you score it?
You asked about the percentage, it's at least 50% of our business is in that non-new in-season bucket. Do you think that they might benefit from shifts away maybe from experiences to things? Payments has been on all next generation technology stack. So we ran programs and we've been running programs in all of our key geographies. So how we list getting through registration.
And what you'll see us over time is to continue to drive that innovation, continue to get stronger with the marketing to bring those buyers and turn them into enthusiasts and that's how eBay really captures it. We feel like we have a clear vision as a company and a clear strategy to go after it. Would you spin it to the shareholders? A good example of that is cross-border trade. But when we look at the total business and we think about this $500 billion TAM, people are at home right now, this is a great time for us to get people exposed to eBay, have them try out consumer selling, turn that $4,000 of stuff into cash so that they can buy other stuff and create the flywheel on eBay. Welcome back to our Future of Technology Conference.
Of course, PayPal is still a key partner for us. Following an appointment from the company’s board of directors, Jamie Iannone will step into the role as head of the company, effective April 27. We had a question from the audience about your view on the structured listings effort. Walmart's chief operating officer for U.S. e-commerce, Jamie Iannone, will become eBay's new CEO. You talked about not needing two logins, but are you seeing any good purchase behaviors that leads you to believe that this will help drive stronger topline?
And that gets me really excited because the scale of what we have on the platform to really go after it is truly amazing. And we're really excited about the new company and what it creates. We're really moving forward quickly to go after it across all three of those dimensions. When you think about the organic traffic that eBay has, its unique cross-border trade business, longstanding seller relationships. When do you expect it to close? So by pivoting to this structured data methodology, it's actually really helped us drive the buying experience. eBay Inc. (NASDAQ: EBAY) today announced that the Company's Board of Directors has appointed Jamie Iannone as Chief Executive Officer, effective April 27, 2020. They've given us great feedback. What's unique about eBay is we partner with our sellers so we don't win unless they win. No. People use those features to really kind of narrow down and figure out what they want.
We've had that for a long time, but penetration continues to grow and people love the opportunity to put in best offers.
Not only did we make the changes with the authentication of the escrow, but we lowered the seller fees for high SP transactions or high selling price transactions and introduce these new discoveries.
And that's actually making it so that for the buyer and seller, it's a much greater experience.
At the same time, we've put money against specific marketing to drive more longer lifetime value buyers. So we think this tech-led re-imagination is a big opportunity.
We added search filtering into the mobile app. EBay Inc. named Walmart Inc. e-commerce executive Jamie Iannone as chief executive officer, bringing in a manager with outside digital experience as the online marketplace seeks to … So you may have seen, we recently announced a partnership with UPS.
Yes. Or we'll make sure that we make a plug that that eBay will now be the destination to do that.
Well, I spent eight years at the company earlier in my career. So let me talk about why we're focused on non-new in-season. Yes. So people were buying stuff to create a home office.
So when I look at our technology stack, it's really about accelerating our investments in those areas to make everything that we have on a next-gen technology stack to really enable us to innovate and move faster. But for the most part, the things that we're doing, like these integrations, making it more predictable for buyers and their delivery times are being really successful for us. An example of how you use technology to really make the transaction much more seamless, much more smooth.
So that's different than previous efforts where we were just focused on catalog. And then third is turning these buyers into lifelong trusted relationships related to turning them into enthusiasts. I think I’ll just summarize and come back to where we started with this vision. So that's where I talk about our key initial premise on our vision is really about defending our core business. I think what these niche competitors are showing us, Ed is how much untapped potential there is for eBay.
And then we inverted that and created seller initiated offers. A good example of that is up and running in the U.S. where we encourage those sellers to bring their inventory online.
So the choice is the second key benefit. eBay 新CEOにJamie Iannone(ジャーミー・イアノーネ)氏就任へ 公開日: 2020年5月9日 最終更新日: 2020年5月9日 林 一馬 おはようございます！ SAATSの林です。 eBayに新しいCEOが就任しましたので シェアさせていただき You talked about the benefits to the sellers. There's a couple of pillars that are really important to us. But when you think about the focus, I think we were focused too much on new in-season and eBay really has a unique opportunity to drive that. Next week, we're actually hosting a panel on collecting vintage watches, so we'll make sure that, hopefully, you can participate and listen in. Yes. How do you engage and identify some of these enthusiast communities, and what do you think long-term it'll take to win share? Jamie Iannone is an American businessman, and the President and Chief Executive Officer of eBay, since April 27, 2020. Our specific focus is on non-new in-season where we think there's a huge TAM.
So in our promoted listings advertising business, it allows them to get immediate exposure for their items even if they're a brand new seller. And as it relates to fixed price and auction. The last key pillar for us is building longstanding buyer trusted relationships.
I think I knew you back from when you were at …
I guess just the first question I had for you though is, you really were able to drive a lot of innovation at Walmart, particularly at Sam's using technology and doing it quickly.
That doesn't mean you won't be able to buy new in-season on eBay. And then I guess maybe a bigger picture question, there's been a lot of debate as to what should be done sold auction style versus what should be sold by it now, and any thoughts on what the right kind of contribution from either side of the continuum would be?
So now it's much simpler, a cleaner interface. You had some interesting news at the other day about authentication for watches. The second key tenant is really being the seller platform of choice. As we talked about last quarter, we had 8 million new buyers on the platform, so obviously a lot of demand for our sellers to bring items onto eBay. Iannone is also joining the Board of Directors at the e … When Jamie Iannone last worked at EBay Inc. in 2009, its then-smaller rival Amazon.com Inc. was struggling to survive the Great Recession. But when I think about watches, so what we did in watches is a great first example is now we're authenticating every watch that's over $2,000. At the point we are managing the payments all on our platform, we have the capability to do more things for sellers in terms of financing and other capabilities as well as do more things for buyers because they'll have stored credentials on our account.
Fitness equipment was on fire for people working out at home. Now there's some areas that have been truly impacted, like in our Korea business, we have travel as part of that business. And I think it's a nice balance between giving sellers capabilities and really having a great buyer experience. We are really excited to have Jamie Iannone from eBay. So thank you very much, Jamie. Yes. You talked about payments. Our ad business and promoted listings business really well done. We're also adding escrow. We're not trying to create 30 different eBay motors. We've been running promotions in each of our key geographies to encourage that selling, and really working on driving velocity. And then just broadly, how do you think you compete relative to like a Facebook or Google for talent? Let me give you an example.
And that's the same type of thing we're going to do here in the selling proposition, is figure out how to make that really seamless and easy and bring that inventory on.
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