eBay Building Confidence in India
While analysts, investors and Web professionals were keeping a close watch this week for eBay’s first-quarter earnings report from its San Jose headquarters, the online auction site was taking strides to solidify its position in a potentially explosive market halfway around the globe. eBay India, a full subsidiary of eBay Inc. and the leading online marketplace in a country still relatively new to the practice, introduced the eBay Guarantee to instill confidence among India’s enormous population of would-be Internet consumers.
“As India is still in the early stages of online shopping, some buyers tend to be concerned about the items purchased,” said Vasundhara Bhonsle, Head of Operations for eBay India. “The eBay Guarantee program is designed to provide 100-percent satisfaction for buyers.”
The eBay Guarantee, which goes into effect immediately and is available on all purchases since March 21, 2010, offers buyers on www.ebay.in replacements or refunds on all transactions in which they are not 100 percent satisfied. The eBay Guarantee (www.ebay.in/guarantee) is also valid on transactions on eBay Global Easy Buy (www.ebay.in/geb) and covers the price of the product as well as shipping charges.
Meanwhile, the parent company’s much-anticipated earnings report was, overall, less than inspiring. eBay modestly beat many analysts’ estimates but also hinted at a weak forecast. CEO John Donahue stated that eBay is on track to “achieving our three-year growth and profitability goals”, and it would be safe to assume that the vast untapped potential of eBay India could figure prominently into those goals.