When founded in 1995, eBay brought peer-to-peer online resale to the masses through its pioneering marketplace. But, the e-commerce company has attracted an onslaught of competitors over the years. Nearly everyone, from mass retailers Walmart and Amazon to, more recently, specialized rivals like Vestiaire Collective and retailers like Michaels and David's Bridal, is chipping away at its dominance.
While eBay remains the largest online marketplace, with $74 billion worth of goods sold on its site in 2022 (and 1.7 billion listings), that volume was 15% below 2020. As a result, eBay CEO James Iannone, who conceded the site can't just be an "everything" store, has focused eBay more sharply on a few core sectors, notably luxury.
