eBay GMV Down 4 Percent in the Fourth Quarter 2019

by: industrystones

My Ebay inbox has been BOMBARDED daily with complaints that buyers can't see the measurements of my product within my item descriptions for the past few years, but NOW lately, it's obscene. 99.9% of all emails they ask "What are the measurements?"  They have been there plain as day since day one.
Just HOW LONG now have people been surfing Ebay auctions with their cellphones rather than laptops?
In ALL THIS TIME, they STILL haven't fixed their code so that cell phone users can view a sellers "Item descriptions". ???????????????
I am already half way out the door so I can laugh at this. I feel bad for those of you who REALLY count on ebay for a living . . . .

by: pace306

Of course the REAL numbers are MUCH WORSE - these numbers are the ones "they tested" and seen to be safe.

Safe = the stock wont go down too far, the institutional investors wont run for the hills, Enron 2.0 wont happen, and the golden parachute people (the lazy good for nothing Linked-In wannabes) get to keep their jobs and perks.

Smaller sellers have always been the canaries in the coal mine. We know eBay rules better then eBay itself (since we experience them 24/7), we know what happens when eBay goes to war with us, and we know where eBay is headed.

They are (as Tool will tell you) "too big to fail" - they arent going OOB any time soon, its just that eBay will continue to be more nasty and vicious because they STILL believe DW cr@p - when something goes wrong - its ALWAYS the sellers fault.

Its a shame that Shmenckle (or what ever his name is) doesnt have any more brain power then your average roadkill - but thats what NOT HIRING PEOPLE WITH EXPERIENCE will do. If a policy doesnt work, or your customers (read sellers) dont like your product - then like Coke - by all means STOP and reverse course.

Of course eBay believes that its on the right path - and if they just force "some more people" into Managed payments all will be OK.

All that money they dont have to pay Paypal in cc fees, the float, all the opportunities to steal from sellers (yeh right - try calling them and having them "return" some of YOUR funds.... "oops sorry its a glitch, no refunds to be given" ... wanna bet?

Managed payments fees, the money from Stubhub and the stolen CA tax fees will help eBay build Walkers West 2.0 (on the sly of course) and the free perks will continue.

Sadly, eBay is unaware of how slow business is in general, and they arent prepared for any of this (esp uncertainty during a Pres election year (no matter whom you vote for)) ... good luck to them (yes Jordan - I mean you - wake up already)(and when you wake up - go knock on Griffs door - hes been sleeping so long he may be in a coma - go check on Mr Seller Protection please)

by: iheartjacksparrow

It's hard to believe that eBay finally admitted what most of us already had figured out, that their GMV was a negative number (and probably has been for the last few quarters). I guess JD and Devin were better liars than Schenkel.  

by: Jeff12671

GMV down and the numbers of sellers up. It's been the same story the past few quarters. Ebay continues to erode its customer base and for sellers who jump thru all the hoops to make their listings as good as possible and also pay to promote them its like trying to push a rock upstream. Making sales on Ebay just continues to become more difficult, labor intensive and less profitable.

by: nsc

@Carl,
Yes, it looks though the spin isn't working anymore--even though the headlines say "eBay meets earnings expectations at .59 eps," the fine print says eBay achieved the eps number by buying back shares. Apparently the analysts are reading past the headlines.

by: eBay Shill Buster

Ina, the reason US sellers are taking a giant hit is due to eBay search which shows China based sellers by default in the US facing site, this is due to the greed and incompetence of Devin Wenig and Schenkel who only care about cashing out stock options, this has been a problem for years.

Buyers should not have to use a filter to see US sellers items in search on the US facing site.

by: Geetar

I am saying this again. They are giving the impression of a wounded animal (and it is), in order to put it up for sale, or set it up for a take over. They will show slowing numbers, but wont show that the bottom is falling out.

Where is the new CEO? There is no CEO because Schenkel is being paid to tow the line. And that just what Singer(elliot mgmt,), and the other activist investor want. When the sale of stub hub goes thru, they will buy ebay stock with the cash. With the added stock they will have more of a controlling interest in the company, then they will be able to sell it off.

You think things are bad now.....who knows who will buy ebay, and what they will do with it. Be careful. This has the possibility to turn into a disaster for sellers.

by: FeelingFroggy

Maybe Ebay should consider hiring AOC from new york. She has an economic degree and is trained handling money. She could be the gem that they need to plug the leak.

by: eBay Shill Buster

Schenkel is keeping all of Devin Wenig's programs intact, nothing is going to change for the better, this company is going down the tubes unless the do a complete roll back to 6 or 7 years ago.

All of Wenig's criminal initiatives were signed off by Schenkel, he needs to go now before more destruction is wrought on the eBay marketplace by the continuation of Wenig's programs.

A drastic change in plan is needed but Schenkel is married to eBay Store subscription and good til canceled fee generation because they think that is going to keep the Titanic from sinking to the bottom of the ocean.

If eBay were to roll back to 7 years ago with the software that would be a start, they would also need to eliminate charging anything for listings and relists, dump stores and give all sellers in good standing free unlimited listings, that is the only way they will get inventory on the platform. They fear giving up what they think is keeping the ship from sinking, eBay Store subscription and listing fees, when that is actually keeping GMV from growing because no sellers is going to keep paying eBay big money to list on a dying platform that is dead due to ill advised executive greed inspired ideas.

by: Mark4

Managed payments as well as ebays return policies that are rotten to the core have been a disaster for ebay, amazing even as the numbers show, ebay is failing, the inept leaders of this disaster of a marketplace keep forging ahead. Ebay has lost so many sellers over this managed payments, the numbers are staggering. As for as our 4 million dollar a year business on ebay, as soon as are forced into that garbage we are out as well. We are already moving our inventory over to amazon and Walmart.com as well as facebook marketplace for  local business. We won't need ebay and all their BS any longer.  

by: ebayout

ebay owns zero inventory...it rents pixels. Where's the value?

by: toolguy

@Mark4

So you're going to throw away a $4 million dollar business on something you haven't even tried yet?

Is that a "smart" business decision?

by: toolguy

It's 2002

If eBay makes me accept Paypal I'm outta here!

eBay sellers will NOT put up with Paypal

eBay is doomed! (aka 2002)

Once again the masses claim they'll leave if forced into managed payments. . .

by: pace306

"ebay owns zero inventory...it rents pixels. Where's the value?"

You know - you are %10000000 correct. Its just a few buildings and a bar - nothing else.

The secret of eBay (its value) is its ability to conduct mafia style operations and call it "business" and get away with it.

What ever/when ever Amazon does or does not do something - the news and the government is all over it. Look at Ina's articles - they are full of Amazon getting scrutinized stories. Ever see one for eBay???

When was the last time that eBay got hauled in front of regulators and sued for bad behavior - almost NEVER.

eBay keeps the float on transactions - it was illegal when Paypal got sued 10 yrs ago for it - but yet ebay does it now.

eBay via coercion forces you to take returns - even if your policy is to not - and matches YOUR LOCAL city/states laws .. "DO IT OR ELSE" ....

When the Gambinos do it - its a crime, when eBay does it - its business - even though as they tell Federal regulators that they empower sellers to run THEIR own business's.

eBay commits every kind of possible fraud (eBay if you are reading this - come and try to sue me PERSONALLY for slander if you have the stones) and gets away with it.

THAT power (to commit crime in the open and not get into trouble) is why eBay has a value.

Any team of monkeys can open a ecommerce site - all it takes is money.

Mercari did, Poshmark did and so did others ....

That value is worth $25 a share and not a penny more - cause where else can you find open fakes on the internet? (items that say REPRODUCTION in the description)

by: iheartjacksparrow

@Mark4 - It's sellers like you who leave that will be the death knell for eBay. You must pay close to half a million a year in fees. eBay is not going to be able to survive on the fees generated by their small sellers. I sell less than $25K a year online (capped by my city's rules for home businesses), and what they'd get from me if I was still selling on eBay wouldn't pay for the weekly booze bill at Walker's West.  

by: Shanna

FeelingFroggy do they need a bartender for Walkers West?

by: NoMoreEbay

This is what happens when you're so arrogant that you think you know everything and you not only never listen to your customers, you actually abuse them.

It's nice to see these narcissist jerks get some comeuppance.    

by: Geetar

@ iheartjacksparrow

capped by my city's rules for home businesses?

Where is that if you dont mind me asking? Thats crazy

by: Geetar

I see people here saying "it's about time they get theres"
Who exactly?  I am pretty sure that most of the people that have made ebay a great place are long gone and cashed in most of their stocks by now. It's basically a headless company with a few majority shareholders with board positions, and of them it seems they are looking to crash the company so they can sell it, instead of improve it.

by: nsc

Schenkel's earnings call was a real study in CEO boilerplate, trying to say nothing when all the news is bad. For years eBay has survived on fooling analysts each quarter-end, hiding the Marketplace stagnation under somebody else's growth--Paypal, Classified, Stubhub.

But PP is gone, Stubhub is sold and there is nowhere left to hide. eBay is still making huge money, but they are spending it buying back shares and paying dividends to keep their stock afloat.

Nobody seems to have given much thought to keeping their core business afloat, apart from the latest money grab, Managed Payments. Frankly, they don't even sound like they have a lead on a new CEO or a turnaround strategy.