10/27/2021 | Press release | Distributed by Public on 10/27/2021 20:26
This afternoonwe released eBay's Q3 earnings report with strong results. Here are some of the key takeaways:
Customer Satisfaction Driving Results
For more than 18 months, we've focused our efforts on improving customer satisfaction and trust - working hard to improve the end-to-end experience for buyers. We recently marked the one year anniversary of Authenticity Guarantee and have now authenticated nearly 1.5 million items, with customer satisfaction scores of 90 and upwards.
In sneakers, we continue to grow at double-digit rates, and sneaker shoppers purchase an average of $2000 across eBay. The same is true in luxury watches: we continue to grow at double-digit rates, and these buyers spend an average of $8000 across 50 different categories.
Some additional updates:
With each of our Focused Categories, our goal is to deliver buyer and seller trust, an exceptional experience and best in class inventory. This is creating happy customers who shop across the entire marketplace, and keep coming back to eBay.
High-Value Buyer Growth
Today's results underscore the growing number of high-value buyers: people who purchase at least six times a year and spend $800+ across the site. Buyers in this category have risen 6% compared to 2019 and continue to trend upwards, with the top 25% of buyers making up approximately 75% of eBay business.
This is meaningful - especially as it relates to our focus vertical strategy - because when we acquire a high-value customer for one vertical, we're acquiring them for the whole platform.
New Tools and Updates
We're investing in a richer Stores experience with new merchandising, search and coupon capabilities. And, to help you tell your unique and compelling stories, we are also testing video integration. Finally, the recent introduction of Promoted Listings Advancedprovides cost-per-click budget controls and tools to create campaigns, monitor performance and optimize returns.
Q3 was another bright spot during a year of change and uncertainty. More importantly, it was another milestone in our multi-year journey to show eBay's resilience and highlight the marketplace's unique offerings.
We are firmly committed to unleashing even more of our potential - by leaning into new categories, creating unparalleled experiences, and doubling down on trust. As 2022 approaches, know that you are helping to grow our marketplace and global community into a larger and more vibrant destination for both buyers and sellers. I look forward to the future we're creating together and, as always, thank you for selling on eBay.
SVP + General Manager, Americas Market
If you weren't able to listen to the conference call, you can find the replay on eBay's Investor Site