Ebay, which has been increasingly losing market share in Australia to Amazon as well as newer entrants such as Shein and Temu, is now predicting a bleak shopping period over the holidays.

The company has operated in Oz since 1999, with around 40,000 businesses using its marketplace here and its local website receiving approximately 12 million unique visitors each month.

however, the company has said that revenue globally will be $2.53 billion (A$3.85 billion) to $2.59 billion (A$3.94 billion) in the period ending in December. Profit, excluding some items, will be around $1.22 9 (A$1.86) a share.

Analysts, on average, had estimated sales of $2.64 billion (A$4.02 billion) and earnings of $1.23 (A$1.87) a share, reported Bloomberg.

CEO Jamie Iannone said that a shorter number of days between Thanksgiving and Christmas, was one of the factors that affected the holiday sales forecast.

To stem its eroding market share, eBay has been focusing on narrow categories such as car parts, luxury goods, collectibles and refurbished appliances.

 

It is investing in authentication services to add a layer of security which is intended to appeal to luxury shoppers reluctant to buy because of online fakes. The platform also offers guarantees on vehicle parts and refurbished goods.

Ebay said that in the third quarter of this year, revenue increased 3 per cent to $2.58 billion (A$3.92 billion), which was below the estimate of analysts who predicted estimated sales of $2.55 billion (A$3.88 billion).

Before the latest results were declared on Wednesday, Ebay’s stock had climbed 44 per cent in 2024, but then dropped around 8.5 per cent after the results.

Australia’s competition regulator meanwhile will submit its 10th and final report of the Digital Platform Services Inquiry on 31 March 2025. That report by the Australian Competition and Consumer Commission will focus on recent international legislative and regulatory developments and their impact on competition and consumers, major developments and key trends among digital platform services, and emerging competition and consumer issues among those who use these services.