Labelled as a ‘cultural phenomenon’ (Kaiser, 2003), eBay is the most popular online auctioning site in the world, generating exceptional sales with 3.2 billion estimated for 2004 alone (Sellers, 2004). Its rise to fame is directly related to the world’s interest in the Internet and the endless options and advantages it presents.
Online auctioning is so popular due to the ability it has to break done previous buying, selling, and shopping conventions and to reach audiences that were previously never thought possible. Its ability to create an ideal exchange between buyer and seller has helped businesses of all sizes to compete and reach audiences otherwise constricted by communication and physical barriers, resulting in widespread popularity. Its ease of use and nearly unlimited access make it a popular choice for Internet-savvy users around the world.
Ebay is at the forefront of this budding online auctioning marketplace, moving 12 million dollars of merchandise (Goldsborough, 2000) daily, making it by far the industry leader. It has been named the ‘single best site out there’ by PC magazine (Goldsborough, 2000), creating what is known now by millions of people around the world as the ‘eBay economy’ (Hof, 2003). Many affiliations have been set up with eBay (Online Auctioning Sites - Affiliations with online auctioning), and its name is now so universal most sites have links to or advertise the popular marketing site, reinforcing its widespread use.
Helping to make eBay the site most people spend time on (http://www.ebay.com, 2004) is the running and production of the site. Ebay has harnessed the power of the World Wide Web to update its technology to help make it efficient and user-friendly. Further, chat boards and discussion rooms help make eBay a popular place to make friends and discuss items of interest, proving itself to be much more than a place to exchange items of value.
Further adding to eBay’s popularity is its secure PayPal online paying service, offering the stability of the latest technology in online payment options (http://www.ebay.com, 2004). There is also an option, But-it-now (BIN), which offers a fixed price market for those not wishing to auction, catering to everyone’s needs.
See other links:
ECommerce - eBay within the wiki.
Return to Online Retail
Angela Klein 20:09, 27 Oct 2004 (EST)
