Merchant Innovation

Customizable Bid Groups Come To eBay Commerce Network

As advertisers get access to larger and larger troves of consumer data, using that information to refine what shoppers they target products and messaging for is a paramount goal. However, marketers also need to list their items on the right platforms to reach the right customers.

eBay Commerce Network is making strides to become a more attractive and functional marketplace, as the company announced Wednesday (Oct. 29) that it had officially launched “Bid Groups,” a method that advertisers can use to set custom bid ranges on their listings to reach the exact consumer segment they’re looking for. Kristy Troup, senior director of advertising for eBay Commerce Network, explained that Bid Groups offer one more level of customization to the eBay Commerce Network experience.

“Our advertisers want more campaign control, and more choices to reach the customers who matter to them, and Bid Groups offers new ways to surface the right content to the right shoppers,” Troup said in a statement. “Bid Groups adds to eBay Commerce Network’s portfolio of powerful tools to help our advertisers drive more sales and increase their online brand presence in more personalized ways.”

The announcement comes mere days after eBay’s CEO Devin Wenig made bold claims about the eBay brand offering a different value proposition to retailers. While it remains to be seen if Bid Groups will have marketers flocking back to list their wares on eBay’s marketplace, the addition of another level of product customization isn’t likely to hurt the company’s newly expressed commitment to optimized selling.

eBay Commerce Network explained that Bid Groups has been in a private pilot for about eight months, and most marketers who used the program reported higher returns on investment with the tool than without.

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.