Mobile auto sales ‘driving’ eBay performance
In the fourth quarter of 2016, a car or truck was sold every three minutes via eBay on mobile phones – and this might just be the tip of the iceberg. A recently released eBay advertising survey suggests this number is rising.
eBay is up 15% so far this year
SOURCE: Yahoo Finance
A survey was given to 1,000 customers of eBay motors and 1,000 general consumers – and the result demonstrates that online is where it’s at for buying cars and trucks: 87% used the internet in some way when buying a car over the previous six months.
eBay says that 63% of respondents were “likely or extremely likely” to actually buy a whole car online in the future. The reasons for this dramatically high number include better prices, reliability, and safety. Interestingly, men are twice as likely to buy a car online as women, who say they would prefer to test drive the car beforehand.
eBay’s senior director of sales and marketing at eBay Advertising said: “We have a massive audience and passionate consumer base, and motors in particular has always been a category that has been a strong and passionate component of that community.”
The survey also sheds light on the journey these online car buyers take, which, on average, takes about 2 months. Customers of eBay Motors relied more heavily on customer testimonials and professional reviews that info from dealerships, and women were more likely than men to drive a vehicle until it dies.
Dominion holds eBay in its Global Trends Ecommerce Fund.
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