New program will start in October with about 150,000 getting the designation
Most consumers know that if you want to sell something online and get the widest possible audience, you go to eBay. The online auction giant is a great place to connect sellers with buyers, but the auction service is not without its complaints.
The poor economy is certainly hurting eBay, but despite the economy the auction house was able to post earnings higher than expected by analysts. EBay also has some other tricks up its sleeves to help increase sales volume and make consumers more comfortable when buying.
EBay has outlined a new scheme where it will slash its seller fees by up to 20% for sellers who are top-rated. EBay will bestow the new top seller designation on about 150,000 sellers currently using the site and push their listings higher up the page in search results. Shoppers will also be able to sort the search results for a product by just showing top rated sellers.
To be eligible for the top rated sellers program a seller will have to be located in the U.S., UK, or Germany and conduct at least 100 transactions per year with at least a $3,000 annual sales volume. The sellers must also have a detailed seller rating of at least 4.6 on criteria for accurately described, shipping time, and cost.
EBay's Usher Lieberman said, "We've raised the bar on quality but we've lowered the volume requirements. With the lowered volume requirements we're able to welcome in a whole lot more smaller sellers."
According to eBay, about 57% of the sellers in the 150,000 number that will become top sellers in October when the program launches would not have qualified under earlier requirements. The eBay feedback system is flawed with buyers often leaving negative feedback or low seller ratings for arbitrary and often unwarranted reasons. EBay says it is trying to improve that rating system.
The company will now place a greater emphasis on a seller's lack of negative ratings rather than the difference between a 4 or a 5 on a detailed ranking. EBay will also provider new tools to help sellers list and maintain items easier.
"There's no chance that the iPhone is going to get any significant market share. No chance." -- Microsoft CEO Steve Ballmer
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