EachNet was founded in Shanghai in August 1999, mainly engaged in e-commerce. In 2002, EachNet formed an alliance with eBay and changed its name to eBay EachNet, which quickly developed into the largest online trading community in China. The change from EachNet to eBay EachNet is not just a simple logo change. It means that EachNet will be integrated into a larger community of more than 100 million registered users, with stronger financial support and more complete technical support. Now global buyers only need to select China on the homepage of eBay to enter the Chinese eBay (EachNet) to browse and purchase. Sellers are no longer facing only Chinese users. At the same time, EachNet provides a second trading opportunity. For bidding products, if the seller feels that the bids of multiple buyers are above the expected value, they can directly trade with multiple buyers without spending more login fees.
eBay has built a new business model based on the e-commerce platform, providing buyers with a convenient, affordable and safe consumption platform and creating a brand new marketing environment for sellers. In summary, the transaction process has the following main characteristics.
(1) The main transaction subjects are natural persons. At present, eBay users are mainly individuals, self-employed individuals or small industrial and commercial enterprises. To facilitate transactions, these self-employed individuals or small industrial and commercial enterprises usually register as natural persons.
(2) The commodities traded are mainly daily consumer goods. The classification of eBay online commodities has developed from more than 300 subcategories in the early days to 15 major categories, more than 150 secondary categories, and more than 500 tertiary commodity subcategories. Its products cover many commodity circulation fields such as home life, computer networks, communication equipment, sports goods, clothing and accessories, office supplies, travel and leisure, hobbies and collections, books and audio-visuals, etc., among which daily consumer goods account for the majority, including second-hand goods and new goods.
(3) The daily transaction volume is large, but the average transaction amount is small. The total transaction amount of eBay in one quarter of 2014 reached 12 billion US dollars, but the average transaction amount was only a few hundred yuan, which fully reflects its characteristics of serving ordinary small and medium-sized users.
(4) The transaction coverage is wide. eBay’s network covers more than a dozen countries, and its page views reach millions every day. Currently, eBay’s cross-border transactions are mainly concentrated in collectibles, clothing and accessories, household goods (soft furnishings), toys and ethnic products.
(5) There are various pricing methods. In order to meet the needs of different groups of people and provide users with a variety of service options, eBay has launched a series of new pricing methods, including no reserve bidding, reserve bidding, fixed price selling, fixed price transaction and other 5 methods.