You buy and you sell, you bid and you pay
It’s a deal every minute on a site like eBay!
Not so long ago what emerged as a simple auction website for PEZ dispensers known as AuctionWeb has now been evolved into a massive virtual marketplace called eBay. Drawing millions of aspiring entrepreneurs, enthusiastic sellers, and obsessive buyers from around the world, eBay has revolutionized the trends of purchasing and online trade. Everyone – from small part-timers to huge multinational corporations- has harnessed the power of eBay to sell their commodities making the trading venture a success. Now, one may wonder if what lies behind eBay’s success.

Although, a considerable amount of eBay’s success is ascribable to its loyal customers and addictive shopaholics, there are several other elements that let eBay bloom in the dot-com world. One of such elements is the bidding process, which makes the shopping spree an exciting one for the interested buyers. Besides, the consumers have access to a broad range of products being available that makes it possible for them to obtain high-priced items at a relatively lower rate. A large number of bidders, in turn, attract a significant number of sellers to merchandize.

Moreover, the world of eBay revolves around customer relationships. The eBayers not only shop around hunting for their treasure but they also take delight in socializing with one another, for instance, by giving feedback and authenticating a product or a service. This consumer-to-consumer model also lets eBay rule as the king of the e-commerce realm.

In a developing country like Pakistan, the presence of global trading platforms such as eBay is essential as there are many individuals who might be interested in opening their online stores or online businesses. Additionally, eBay can serve as a cash cow for the small industries or the cottage industries that can perk up their sales by reaching out to global markets. It can also help in establishing business alliances worldwide.

The potential of eBay is limitless; however, one should invest in the tools of his own trade to reap rewards and make the most of it.