In a time when every day seems to bring new news of a high street retailer or long time manufacturer suffering damaging profit reductions, or even losses in these tough economic times, eBay has however bucked the trend and given a strong indication of ecommerce’s growth.
All of the statistics released show good news for the online auction giant, with a 20% rise in profits for the first 3 months of 2011 (compared to 2010) being the ‘Pièce de résistance’. Their profits grew from $398million to $476million, whilst overall revenue jumped an impressive 16% taking it to $2.55billion.
A large part of these impressive gains has been put down to the success of its pay pal division. Paypal accounts also increased 16% on last year, whilst sales volumes – excluding vehicles – grew 8% taking it to a huge $14.5billion.
So, whilst the high street is suffering, this is more evidence of the strength of ecommerce and the huge part it plays in the economy, making money that you may well be missing out on.
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