In its latest attempt to woo online shoppers from Amazon and other rivals, eBay on Wednesday said it will start matching the prices of certain products.
The e-commerce marketplace announced it will lower prices of nearly 50,000 products on its Deals site if the same product is sold cheaper at Amazon, Walmart, Target or other major retailers. For shoppers to get the price-matching coupon, they need to contact eBay’s customer service team.
“Consumers are still very price-conscious,” said Hal Lawton, senior vice president of North America at eBay, in an interview with Reuters. “Post-2009 and 2010, value just became an even stronger consideration for where they shop and what they buy. That really hasn’t waned even though the economy has strengthened.”
In an increasingly saturated e-commerce market with old retailers like Walmart and new online-only marketplaces like Jet.com (recently bought out by Walmart) both entering, eBay has been rolling out new features to keep up.
In March, eBay announced a 3-day guaranteed delivery on 20 million items across its site — a slightly slower replica of Amazon Prime’s two-day guaranteed delivery. The guaranteed delivery will roll out in the fall, and the company guarantees a full refund if the package is not delivered in time.
In 2015, eBay introduced an Amazon Prime-like customer loyalty program.
EBay’s price-matching rollout is nothing revolutionary, however. Walmart, Target and Sears match lower prices as well.
Despite intense competition, eBay has been on solid footing for the past several years. Credit Suisse raised eBay’s shares to outperform its expectations in 2017, calling the San Jose-based company “a rare value story” in the topsy-turvy Silicon Valley.
Photo: eBay will start matching prices on more than 50,000 goods on its Deals site. (Courtesy eBay)
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