In today’s top retail news, eBay executives say declines in active buyers are par for the course as the company focuses on more “high value” consumers, while PYMNTS research suggests increased online holiday shopping could be a boon for Amazon. Also, Shopify has doubled its sales in the last 16 months, and Google has partnered with PAPER to create a retrospective shoppable magazine.
eBay Downplays Continued Decline of Active Buyers
Marketplace platform eBay is continuing to shed active buyers and report lower sales volumes as consumers increasingly return to in-person shopping, though Chief Financial Officer Steve Priest attributed the loss of active buyers to a natural shedding of “low-value” buyers as eBay focuses more on “high-value” buyers, or those making at least six purchases per year at over $800. Compared to the third quarter of 2019, CEO Jamie Iannone said that high-value buyers are up 6%, while low-value buyers are down 7%.
Holiday Shopping Outlook Suggests ‘Amazon Christmas’ May Be Underway
PYMNTS research, conducted in collaboration with Kount, found 87% of consumers plan to shop online this holiday season, a 10 percentage point jump from last year despite many consumers returning to reopened stores. Amazon, according to PYMNTS’ proprietary data, has nearly 50% of the eCommerce market and over 9% of consumers’ overall retail spend, which puts it in a place to capitalize on this increased digital behavior.
Shopify Sees Future Where ‘Retail Happens Everywhere’
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Shopify Inc. reported Thursday (Oct. 28) it has doubled its cumulative gross merchandise value in the past 16 months to $400 billion as the company remains focused on simplifying commerce for merchants. Shopify’s total third quarter revenue was $1.12 billion, up 46% from the same time in 2020.
Google’s Shoppable Magazine Showcases Strides Made in Commerce
Though it’s not yet November, PAPER is already rolling out its list of trends that defined 2021, including freckle pens, cottagecore and low impact home workouts, with help from Google, which constantly tracks the popularity of different search items. And using Google Shopping technology, consumers can make purchases directly from images in the digital 21of21 magazine that feature influencers and celebrities such as Jennifer Coolidge, Bella Poarch and Law Roach.
