08/07/2022 | Press release | Distributed by Public on 08/07/2022 20:54
Last week we released eBay's Q2 earnings report with strong results, and I want to share some key takeaways:
In Q2, eBay exceeded estimates across every metric - fueled by the pace and positive impact of our long-term growth roadmap. Since the retail world was upended by a global pandemic, we've all been resilient in the face of ongoing macroeconomic uncertainties - and eBay will continue supporting and growing your businesses with investments in trust, innovative experiences and community engagement.
Together with you, we intend to stick to this course through 2022: setting ourselves up for continued success by identifying, expanding and capturing right-to-win categories; delivering more exceptional shopping experiences on the platform; and making eBay even more attractive and engaging to enthusiast consumer audiences. You, our sellers, are the reason for our current and future success - with your passion, remarkable customer service and truly differentiated inventory. I look forward to us continuing this journey together.
Focus categories are setting the pace
Our Focus Category strategy is fundamental to eBay's long-term growth plan, and our investments are leading to stronger performance. In these categories where we have improved the experience, customer satisfaction remains at or near best-in-class levels, and growth continues to accelerate.
More importantly, the majority of our enthusiast buyers' spending remains above $3,000 dollars per year, and we continue to see cross-category shopping activity. Simply put, our Focus Category strategy has put allof eBay in a stronger position today and will remain a key driver of our worldwide business.
More interesting takeaways:
Investing in innovation and experiences
Since implementing our Focus Category strategy, it's clear that our success can be traced to delivering amazing, innovative new consumer experiences. This summer we began experimenting with the introduction ofLive Commerce. Early pilots of the live stream shopping experience saw users spending 15 minutes or more on the platform, and one in four interacting directly with sellers. This experience shows immense potential, and we will continue to experiment and optimize it in the future.
From the eBay vault to Live Commerce and even the expansion of Authenticity Guarantee to more categories, we're committed to continuing the pace of innovation we've delivered in the past few short months - and making even more progress ahead.
Inspiring with purpose
Another meaningful business driver for eBay - and an increasingly important consideration for consumers - is our commitment to community and sustainability. As mentioned in our most recent Impact report, in the US alone we support more than one million jobs, the vast majority coming from small and micro-entrepreneurs, just like so many of you selling on the platform. eBay sellers and buyers are also some of the most generous entrepreneurs; in Q2 through eBay for Charity, you raised nearly $56 million, up 52% from last year.
Looking ahead
In closing, Q2 was another strong quarter for us. More importantly, the past two (plus) years have been extraordinary. As the resale market opportunity grows worldwide, we'll keep making more bold investments to deepen trust and show off your incredible inventory. I'm incredibly proud of what we've accomplished, but even more excited for our ambitious plans to come. The past 30 months have demonstrated what you all already know: eBay is an incredible global platform, able to connect our communities of enthusiast buyers and sellers - wherever they are and however the changing macro-environment evolves, even in the most unexpected ways.
We're more confident than ever in the opportunities ahead. So thank you for partnering with us on this journey, and as always, thank you for selling on eBay.
Jordan Sweetnam