|EcommerceBytes-NewsFlash, Number 3047 - April 19, 2013 - ISSN 1539-5065 1 of 5|
eBay CEO John Donahoe told shareholders on Thursday that the lines between two enormous markets - online and offline - are no longer just blurring - "These lines are getting obliterated," he said. The CEO made his remarks after the annual shareholders meeting in San Jose in which shareholders voted on some routine matters and two shareholder proposals.
Donahoe's presentation was, for the most part, a recap of last month's Analyst Day with updated financials from yesterday's earnings report for the first three months of the year.
Donahoe said that two years ago, retailers were scared of the disruption caused by mobile shoppers going into the store with access to online pricing. But said there has been a significant change over time, he said - leading retailers are innovating and fighting back, and they are going to where the consumer is - online, on mobile devices, as well as the store.
"Retailers call that multichannel or omnichannel. A consumer calls that shopping."
Donahoe said eBay enables commerce. "We partner with merchants to help them compete in this fast changing environment, and we will never compete with them." He referenced acquisitions eBay has made over the past 2 years "to help bring capabilities, and teams, and business models, into our portfolio to help deliver for merchants, and for consumers."
"eBay Inc.'s strategy in one sentence is, "we enable commerce.""
The eBay Board of Directors recommended shareholders vote against two shareholder proposals, and both were defeated. The Corporate Lobbying Disclosure was rejected with 24% in favor of the proposal, and the Privacy and Data Security proposal was rejected with only 5% in favor. (See this EcommerceBytes Newsflash article for details.)
While eBay annual meetings are not known for much shareholder participation, this year there were not even one question for the eBay Board or executive team after the CEO's presentation.
Donahoe ended by telling shareholders, "Rest assured we get up every day motivated, paranoid and inspired to work hard to deliver for our customers, our employees and our shareholders."
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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