eBay Recommendations to Overcome Slowing Economy

Subject: Economics
Pages: 2
Words: 425
Reading time:
2 min

The eBay started by first establishing a firm home business before joining international markets. The eBay took a longer time operating locally before launching its markets internationally. This affected the business negatively as it was not able to launch its business to some places such as Japan on time. This have been a major factor for its poor performances in Japan due to the stiff competition that is facing from Yahoo which was able to launch its business activities in Japan in good time.

Therefore in future, eBay should try making faster decision to avoid the challenges they are facing now in Japan due to their poor timing. This can be achieved by eBay intensifying their marketing strategies and particularly in Asian countries. The marketing department inspire of intensifying their campaigns on eBay services should also organise promotion to teach new eBay customers on how to do shopping from their sites. Through this method, they will greatly enhance their business activities and overcome the slowing economy.

The other reason that eBay have faced a slowing economy is the negative perception that many people have on online purchases. This is because many people do not trust online buying due to the high insecurities that are attributed to it. Many people fear that this method of buying can expose credit cards to hackers who can use it for unauthorised buying. Therefore eBay should try to enhance the security of their sites by putting appropriate measures in place such as encryptions. They should also educate their customers on how to shop on their sites to avoid instances that may jeopardize their online business to hackers.

The other reasons that exist in online selling that results to a slowing economy is lack of the buyers to trust buying of invisible products. The eBay company is responding to this by incorporating pictures of the products they are selling. This enables the customer to have an idea of the product they are about to buy. The other negative point that arises in this type of buying is lack of trust, because if the buyer doesn’t know the seller it’s very difficult to have trust. So eBay has created a historical of the seller in which the buyer can see all the products that he has sold and the reactions of the buyers, and also eBay gives a score based in the feedback of the customers. Through this method, the company is trying to boost its slowing economy.