In 20 years eBay has transformed online retail. From humble beginnings in 1995 to revenues of $17.9 billion in 2014, its rise to the top has been staggering. The site now has 157 million active users.
Along the way, eBay made some important steps to improve the quality of their service. For example, eBay incorporated feedback facilities as early as 1996. eBay realised very early on that feedback is essential to online retail and implemented it before anyone else was even thinking about it. Thanks to a variety of innovations eBay was worth $7.7 billion as early as 2008.
As for the future of eBay, new Ceo Devin Wenig has identified his plans for eBay going forward. He intends to focus on small and medium sized merchants that make up 70% of the global retail market. Individual customers are also seen as vital to the future of eBay.
You can find out more in this 20 Years of eBay Infographic info-graphic from Snap Parcel.
We believe in no distant time, eCommerce companies in Nigeria will also be counting years just like their foreign counterparts.Share This