We’re used to eBay buying up other companies. Acquisitions have been a major factor in its growth. So, when it bought up yet another company Decide, we weren’t surprised.
eBay snaps up companies making life easier for buyers and sellers
Since eBay bought PayPal, it’s also acquired tech companies such as Svpply, Redlaser, Milo, Magento, Hunch and GSI. You can also add various classified ads sites and marketplaces to the list. Obviously, when eBay snaps these up for a reason, even it’s not immediately apparent. Nevertheless, there’s usually a benefit for buyers and/or sellers.
New acquisition Decide: why is it important?
So, why is Decide so important? Well, the company has carved out a niche for itself by predicting the optimum time for consumers to buy. Are they likely to make a purchase now or hold off for a few weeks? This is where Decide can help. Perhaps a better, shinier model is just about to be released? Maybe the manufacturer will want to slash prices and sell of their existing stock ahead of the new model hitting the stores. Then you have all the holiday price promotions. The January sales are a prime example, but some retailers offer their best deals ahead of the big day.
So, how does Decide make its predictions? Well, the company says that it’s guidance is based on literally billions of data points from the world wide web, and they are actually very good at what they do. As from the September 30th, eBay will be shutting it down so it can focus on an improved eBay pricing tool.
Plans to build a new pricing tool
To be precise, eBay has said that its immediate goals for the Decide team are to enlist them to build a new pricing tool which will enable sellers to price their items so that they will sell faster. eBay plans to leverage Decide’s knowhow in order to analyse data and turn it into detailed, valuable insights in regards to pricing. This should result in sellers developing and retaining their competitive edge in a dynamic marketplace.
How will it work?
A new improved pricing tool? Did eBay have a “pricing tool” in the first place? Well, if it did, most people have missed it! A lot of sellers have been using an external service called Terapeak for eBay data relevant to pricing. Perhaps this new eBay tool will offer guidance on whether your prices are set too high or too low?
We’re curious to see how it will work. Maybe it will scan your existing listings and advise you on whether your prices need adjusting. It could prompt you as you list your items. eBay could even decide to amalgamate automatic re-pricing for its market places into a price suggestion tool. We will have to wait and see.
This is all speculation work on our part of course! So, we’ll make sure we update you once we get some cold hard facts. What are you expecting to see?
