In an article on Forbes, it was reported that eBay Inc (NASDAQ:EBAY) is working to get a breakthrough in physical retail store business. eBay Inc (NASDAQ:EBAY). competitors have physical spaces; Amazon, Google and other companies have some sort of research labs where their developers and business minds work together to bring new solutions on the table to make shopping experience for the customer more imbibing. This factor of a dedicated space is lacking in eBay Inc (NASDAQ:EBAY). However, in 2015, eBay will make a dedicated lab in San Jose where its employees will work on tasks to develop a hardware that will revolutionize the e-commerce business.
The source said that eBay special team is helping startups and stores to open their business outlets in myriad forms. eBay Inc (NASDAQ:EBAY). is helping boutiques, stores, technology stores and other businesses to make their showcasing more attractive.
eBay Inc (NASDAQ:EBAY). is parting its ways with PayPal in 2015. This will be apparently a big loss for the e-commerce company as PayPal was giving it a massive customer base and ecosystem. According to a latest survey, more than 90% of the retail market is based on physical stores. eBay is revamping its business strategy to get the best out of the changing trends.
eBay Inc (NASDAQ:EBAY).’s new physical lab is somewhat secret till yet. It’s known as the Bat Cave in the employee circles.
eBay has dropped around $500 million from research and development in order to boost up its product development. This is in effort to find more revenue streams in order to tackle the upcoming challenges.
eMarketer survey has revealed that ecommerce accounted for only 5% of around $22 trillion market in 2014. This is alarming for the ecommerce players like eBay Inc (NASDAQ:EBAY).
Carl Icahn’s Icahn Capital Lp is the largest institutional investor in eBay Inc (NASDAQ:EBAY) with over 30.80 million shares in the company by June 30.