Ebay has been offering merchandise across multiple sales partners & distributors. With the growing threat from local players, it has now made a strategic decision to jack-up their spending on technology & promotional activities.
Ebay.in has always taken a more conservative & cautious approach of doing business. All the while smaller firms made mega-budget advertisements. However, Ebay.in was never out of the market or sit along the sidelines confirms Muralikrishnan B, Country Manager, “Most of the new business models are just waiting to implode. We have chosen the cautious route, unlike a lot of Indian businesses who are blindly investing money without having an eye on sustainability or profitability”.
Given the fact that Ebay possesses the worlds most preferred payment system Paypal, gives it a stronger edge. However, with local banks too matching the security aspect, it might be a bit difficult to convince Indians to shift their buying & paying methodologies. Additionally, the Indian Govt. has never been kind to PayPal.
Ebay is a quite a formidable player, reveals some interesting statistics. It clocks Six Transactions per minute (IAMAI report). With such brisk business, why should Ebay even try to lure customers? The fact that Indian online retail market is expected to reach dizzying heights of US$ 70 Billion within next 5-7 Years is really great news for all those involved.