Ebay, an online auction and shopping website, is trying everything to keep shoppers’ interest intact in online shopping portal. With its new Rewards Program company is expecting to see some growth in sales as well as in number of shoppers. Newly launched reward program will offer 2% cash back to all eBay shoppers who will make payment through Payapl.
Currently reward program is applicable only for US citizens but soon to have wings for other countries. Company has launched this program, named as eBay Bucks, in a long line of efforts to boost buying on its core site, which the company has said is in the midst of a “multiyear turnaround.”
In a statement, Lorrie Norrington, president of eBay Marketplaces, said “We’re giving eBay’s most loyal shoppers something special in return — money to spend on eBay,”
Like any other rewards programs there are also few fine prints: Shoppers will be credited only after a quarter against the credit accumulated in whole 3 months. Once it becomes available in the account, shoppers need to utilize this within next 30 days and can be used only for eBay purchases made with PayPal. There’s a $500 cap on credits that can be earned per quarter, and most — but not all — items on eBay qualify. (Exceptions include real estate, cars and items from eBay’s classifieds.)
eBay said “company has recorded higher sales volume through a test of reward program floated one year back”. Excited with such results now company is all set to launch this features for all US shoppers and soon to be available for many other countries. Company said “customers who enrolled in eBay Bucks spent five times more on eBay than those who didn’t enroll”. The company emphasized that sellers on eBay would benefit from buyers who made more purchases as a result of the program — and that sellers wouldn’t have to bear the cost or see changes in fees.
EBay sees the program as moving marketing expenditures from acquiring new buyers to rewarding existing buyers, the company said on its website, indicating that eBay might see current buyers as a richer source of revenue than people who haven’t bought on eBay before.