Amazon’s net sales jumped 5x, Walmart soared 19x, but eBay is stuck at 2013 levels. Chinese sellers drive Amazon & Walmart’s success, while vertical competitors outgrow eBay.
eBay, once a dominant force in e-commerce, is now losing ground. Its gross merchandise value (GMV) dropped from 71B in 2013 to just 30B in 2024, while competitors surged ahead. Amazon’s net sales exploded from 49B in 2013 to 247B in 2024—5x growth—while Walmart skyrocketed from 6B to 116B, an astonishing 19x increase. Meanwhile, eBay’s specialized vertical competitors, including StockX, GOAT, Poshmark, and others, saw their GMV climb from 83B in 2021 to 85B in 2024, further chipping away at eBay’s relevance. Data from eBay’s 2022 Investor Day underscores this shift: consumers are favoring platforms tailored to specific product categories over eBay’s generalist approach. The numbers tell a clear story—without major strategic changes, eBay risks becoming an afterthought in a rapidly evolving market.
Amazon and Walmart aren’t just growing—they’re redefining online retail. Amazon’s aggressive marketplace expansion and Prime-driven ecosystem continue to dominate, while Walmart’s e-commerce push, fueled by logistics and pricing advantages, is paying off. In 2021, Amazon’s top sellers from China accounted for 45% of its marketplace—by 2024, that number hit 50%. Walmart, traditionally more U.S.-focused, saw a major shift, with Chinese sellers jumping from just 1% in 2021 to 28% in 2024. Meanwhile, eBay’s share of Chinese sellers stayed stagnant at 12%. This shift isn’t just about sourcing—it’s about platform agility. Amazon and Walmart’s willingness to integrate global sellers at scale has turned them into powerhouse ecosystems, while eBay’s reliance on its legacy marketplace model is proving to be a serious limitation.
eBay’s challenges go beyond just numbers—it’s a strategic crossroads. While competitors embrace international sellers, logistics advancements, and category specialization, eBay has struggled to reinvent itself. Walmart’s exponential e-commerce growth and Amazon’s continued dominance prove that scale and adaptability are the defining factors in today’s retail landscape. Vertical marketplaces like StockX and Farfetch are peeling away niche buyers, while Amazon and Walmart capture mass-market consumers at an unprecedented rate. The reality is clear: if eBay doesn’t rethink its approach—whether by enhancing its seller ecosystem, investing in fulfillment, or carving out new competitive advantages—it risks becoming the next cautionary tale in the fast-moving world of e-commerce.
Can eBay turn things around, or is its best era over?
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