EcommerceBytes is live-blogging the keynote presentation at today's eBay Seller Summit. The new CEO of eBay Devin Wenig will speak to attendees about new and improved experiences for sellers.
Wenig will introduce the Fall Seller Update - we published a preview this morning, you can read about the changes here
Contributing Editor Greg Holden is blogging the webcast (with some help from Ina Steiner), keep in mind this is not a transcript. The event kicks off at 4 pm Eastern.
Welcome to a live blog on eBay's Seller Update. We know you want to hear about what eBay is going to do to - I mean, for - you. But first, Devin frames his remarks as part of eBay's "We Are 20" celebration and a chance to look forward to the future.
He says he sells "all the time" on eBay. And he buys everything for his household on eBay.
But first, a look back:
eBay has the number 28 brand in the world. Wenig talks to Pierre Omidyar, founder, who mentions that the company was founded on democratic principles. How are those democratic principles working out, guys?
Started in 1996 with $7 million in sales. In 2000, nearly $5 billion.
He mentions acquisition of PayPal "no longer with us, if you haven't heard."
Most expensive item sold on eBay: $196 million yacht.
Wenig gives a shout-out to seller Jack Sheng of Eforcity who has 4 million feedback.
...Ten minutes in and we are still reminiscing. Unless I missed it there is no mention of how simple it used to be to sell on eBay.
Development of smart phones; progression to shopping both online and offline. "The world is moving to a complete mix of the on and offline world." eBay had the first ecommerce app.
He points to a third huge change: the age of everywhere, the "Internet of things." "The Internet is starting to come to you, rather than you going to the Internet."
He speaks of "the world of everywhere"-A world in which everything for sale in the world is available to everyone in the world is coming. Who will handle returns, I wonder?
"How are we going to be a great partner for you, how are we going to help you grow your business, and how are we going to help you navigate what's coming?" he says.
Cool stats: eBay sells 12,000 autos a week on a smartphone.
More than half, 51%, of eBay's business is "touched" by mobile.
eBay is the world's biggest store - eBay has velocity: $83 billion of your sales, he says. "This is a business that's growing." IT's vibrant, it's a winning marketplace. "And we intend to keep it that way."
Wenig describes eBay as "a marketplace that does not compete with its sellers." Take that, Amazon!
"We want to be the best for the sellers and the buyers who are our eBay community. What does that mean? For sellers, we have a laser focus on small and medium business (applause). We think we haven't scratched that opportunity yet...think about the millions of small businesses around the world that don't sell online at all. This is an opportunity at the very beginning of decades of growth. Our focus will be on the small and medium-sized business."
eBay should be the first place the world comes to check on value, he says. "incredible, powerful selling platform."
Three things eBay is doing to achieve all this:
1. Inventory. Selection, breadth, value, and uniqueness.
2. "Your inventory will be pushed to every nook and cranny where consumers want to find it."
3. Experiences. Simple, engaging, trusted.
"We are investing in this business to grow our business and to grow yours."
Next, he moves to announcements. He doesn't mention selling updates first.
1. We announced on Tuesday, an entire new suite of mobile apps.
2. Seller updates. "It's critical to me and the entire team at eBay that the standards are fair and predictable." Putting control back in the hands of sellers, to help you grow your business, and not have you worry about things that are not in your control.
3. Returns. A solution to create a united and flexible returns process. "to take stress and hassle an cost out of the process."
4. New product: Seller Hub. "A suite of information and tools which have never been at your fingertips before." Opening up data from eBay's warehouse "to allow you to be the greatest inventory management system in the world. We think if we turn the data over to you, you'll know what to do with it."
Wenig said he was delighted to be there, thanked sellers for coming to celebrate eBay's anniversary. "The best is yet to come," he said.
He then handed it over to the "greatest moderator and the most passionate community person in the world," Sarah Brubacher.