Author Bio : Anand Rajendran is the Co-Founder and CEO of Zoplay a well known Software products development and Mobile App Development Company based in Chennai, India. He has extensive experience in building and leading innovative and collaborative software development teams to deliver major software applications like Zobay Script an Ebay Clone script developed by Zoplay. He loves exploring new things and sharing his knowledge with others.
The online marketplace eBay is testing a new project in the United States that helps the people to sell the unused and unwanted goods on its website. People are aware of the effort taken by the online marketplace to publicize their efforts of bringing the structured data into their website and are now planning to bring in the consumer sellers to the forum. This new project started by the online marketplace is called the eBay Neighborhood that is similar to the United States based program, eBay Valet. The program is more customized for the users and consumers of the United Kingdom that helps the people in the local area to sell their consignments in the online marketplace.
Local marketplace in UK
The online marketplace launched its new pilot program that helps to connect the sellers and buyers who are physically close together. According to the new project, the search process depends on the postcode and they search result shows the products pinned with the Google Map that displays the distance and the price of the product in accordance with the postcode. The advantage of the local marketplace is that, it promotes easy delivery of the product and the customers can pay for the product in cash instead of using the debit cards or credit cards. The online marketplace said that they have almost thirteen million products listed on their site that are available in the stone throw distance from their location.
The online rival Amazon already has local marketplace that connects the buyers with the sellers and result in fast delivery, so the online marketplace is trying to compete against its rival and are trying to increase the user base, transaction and revenue of the ecommerce business.
Payment & Delivery drives growth in the transaction
The key to the transaction in the online marketplace depends on the average amount spend by a user and it gradually increases the valuation of the business. The analysis shows that the online marketplace can expect a gradual increase in the valuation of five hundred and ten dollars to five hundred and twenty dollars by the end of the year. The new pilot project, the eBay Local has the potential to raise the metric and it attracts more users to access the online marketplace to do more transactions that are inclusive of the second hand items.
When the buyer identifies that the seller is somewhere near to their location, it enhances the customer experience in the online marketplace and receiving the products without any delay is an added advantage. And if the seller is willing, the buyers can even examine the product before purchasing it from them. The online marketplace expects that this new program would create a positive effect even on the purchase of the second hand products. So, on an average, if the user spends around six hundred dollars in the online marketplace, the price estimate can positively increase up to ten percent.
In the event of increasing the user base and the valuation, the online marketplace aims to make the process of selling and buying products easy in their forum. The ecommerce company has also followed many initiative steps to work towards their goal by refining the product list, investing in the technology; easy shipping options for the sellers, intelligent product capability and these initiatives have shown a greater difference in the company’s thirty percent increase in its valuation of the entire stock price over last year. Prior to the beginning of the year, the company had put more effort in its business plans and this has lead to the expansion of their company in the Caribbean and Africa and the strategic acquisition. And the new program called the eBay Local is a part of its initiative methods of making buying and selling an easy process and thereby they are planning to obtain more revenue in the years to come.
To be a part of the eBay Neighborhood program, the user has to register in the online marketplace and create their profile that includes the items they plan to sell, the location and their experience with the online marketplace. On registering, the user receives a welcome pack that consists of the tools that help them in showcasing themselves as an experienced seller in the Neighborhood community. The products or items will be sold on consignment basis and the owner of the product or items can meet the sellers and ask the doubt that they have. They have to provide some information about the items or products they wish to sell in the online marketplace including the photos of the products.
The seller must make sure that the product they are going to sell in the, marketplace is worth the price and must be confident that the product will be sold in the market. If they are happy with the product or item, they can take a few pictures of the item for reference. From there in the seller is responsible for all the sales of the product, like contacting the buyers, payment process, delivering the item to the customer’s place, writing feedback and managing the issues faced by the buyers after the sale of the product. The seller must inform the owners the moment when the listing is live, so that they can keep track on the listing and also it will be easy for the sellers to send the payment amount from the buyers to the owners at the completion of the sale.
The sellers have to log in to the Neighborhood hub, where they can easily send the payments to the owner of the items sold through PayPal by excluding forty percent of the commission. The calculations are done automatically in the hub. When the owners log in to the website, they can benefit by selling their unused and unwanted items and products in an efficient way. A survey done by the company shows that the on an average a household in the United Kingdom has around four thousand pounds of unused and unwanted items that can be placed on sale that can bring in an extra money in their life.
Easy way to purchase goods
The launch of the new pilot program in the online marketplace helps the buyers to purchase goods and products from the neighborhood and makes it easier to purchase a product by paying cash and delivering the product within minutes to the customer’s place. The company announced their new project, the eBay Local which promotes the buying and selling experience within the small community. The buyer has to mention the type of product or item they are looking for, along with the postcode of their location. The system searches for the requested query and gives the result in the Google Maps with some of the details that will help the customer like, the name of the seller, the postcode and the price of the product. This will help the customer to decide whether to purchase the product or not.
The buyers have the chance to verify with the product they wish to buy, if the seller permits to do so and the can meet at their local area and proceed with the transaction. /The sellers can sell any kind of items that are partially new or second handed. This process benefits both the buyer and the seller in and efficient way.
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