eBay CEO Predicts $2 Billion in iPhone Based Auction Sales
This week eBay CEO John Donahoe, at the All Things Digital Conference, predicted that during the current fiscal year eBay would generate between $1.5 and $2 billion in sales through the use of the eBay iPhone App. The iPhone application is widely popular with over 10 billion downloads total. Many have questioned the ability to use iPhone Apps as a revenue source but eBay’s bold prediction puts everyone on notice that mobile devices and smart phones have the ability to produce great revenue for a company.
The company generated over $600 million during the last fiscal year from its iPhone App according to Donahoe. Maybe you didn’t realize there was an iPhone App for eBay. Take a look at eBay’s web page specifically promoting the application and providing the needed link to Apple’s App Store: here. Search, Buy, Pay, and Check the status of auctions from either an iPhone or an iPod Touch. Other features include PayPal integration, Alerts, Messages, Live Support, and Feedback.
The Chief Executive also discussed the Digital Wallet while at the conference and his belief that the majority of transactions will be made with a cell phone instead of carrying around a wallet or a purse with credit cards. eBay itself is hoping for a transformation as its transaction company PayPal has outperformed the auction site for a number of years now. Certain categories within eBay have had facelifts to make them more appealing to shoppers including their fashion area. And new features continue to be rolled out like descriptive conditions and seller templates.