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EBay reveals plans for luxury storefront app: execBy
Although the contents for the application were not disclosed, the company is pushing limited-time designer sale events. In addition, eBay partnered with luxury designer Narciso Rodriguez to collaborate on a collection specifically made for the company.
“We’re evolving with today’s fashion buyer,” said Sandra Lin, general manager of eBay Fashion, San Jose, CA. “The marketplace model provides us with current insights on fashion trends.
“EBay goes beyond mobile marketing and mobile commerce,” she said. “We’re doing things around location and we’re scratching the surface right now.
“With eBay Fashion, we curate the experience on eBay by doing the basics – better bigger pictures and creating boutiques.
EBay claims that there are 160 million transactions completed every year, as well as over 20 million listings on its site every day.
The company’s new site, eBay Fashion is a new fashion destination.
The marketplace model provides the company with current insights on fashion trends, including top queries for designers such as Coach, Gucci, Louis Vuitton, Chanel, Ralph Lauren, Burberry and Juicy Couture.
“It’s about selection and value,” Ms. Lin said. “Fashion is a lot more accessible these days and with the recent economic downturn, a lot of consumers think they deserve a good deal.
“The implications here are how do you personalize goods for individuals,” she said. “What does exclusivity mean?
According to Ms. Lin, fashion buyers fall into seven segments, including the Fashion Fanatic, Practical Grazer, Casual Family Oriented, Brand Bargain Enthusiast, Instore Value Ambivalent, Fit-Driven Uninvolved and Utilitarian Comfort.
“Our buyers are a majority of fashion enthusiast,” Ms. Lin said. “It’s all about finding the items that are in style.
“The Fashion Fanatic has the highest medium income with the lowest medium age between the segments,” she said. “The customer is not as loyal, but she is trying things that are new and deciding if she’ll like something.”
EBay decided to launch the upcoming fashion application due to the fact that fashion is the leading category on the number of items sold.
The new site features enchanced functionality and browsing, as well as personalized shopping experiences.
Celebrity stylists help curate the site.
Additionally, brands and retailers have their own customized storefronts.
According to Ms. Lin, similar to Gilt and RueLaLa, eBay Fashion will also have limited time designer sale events.
The company will sell designer merchandise via its Fashion Vault. EBay claims that the sales platform offers a full-service, end-to-end solution.
“We’re doing unique things like driving traffic to Brooks Brothers through search,” Ms. Lin said. “It’s about the empowered individuality of style.”
EBay is also making sure that no counterfeit goods are sold on the site.
The company is focusing on three areas, including education and prevention, detection and enforcement.
“No counterfeits show up on the site,” Ms. Lin said. “It’s all about access to the buyers, moving merchandise and gaining new buyers.”
Social engagement is a key part to eBay’s engagement with consusmers.
According to Ms. Lin, there are 430 million registered users.
“Facebook, Twitter, social media sites are driving innovations in commerce,” Ms. Lin said.
EBay is one large community and social networking is an extension of that.”
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