Dive Brief:
- EBay is investing in improving digital experiences for buyers and sellers alike through generative AI-powered tools, executives said on a Q2 2024 earnings call Wednesday.
- The company recently introduced Shop the Look, which lets customers see what different items would look like together, and Explore, which recommends options based on a customer’s size, style and other attributes. EBay is testing Explore in the U.K. with additional personalization and filtering options to be added in the near future.
- EBay streamlined the seller experience through Magical Listing, which automatically fills in listing information to make the process easier. The new selling flow has led to a 20-point increase in CSAT scores and a reduced average listing time, according to CEO Jamie Iannone.
Dive Insight:
Ebay sees AI as a tool that can help it improve CX for all of its customers, whether they are buying or selling items.
“Our investments in generative AI and machine learning are simplifying the selling and buying experiences, making our marketplace more efficient and helping us better serve customers at all phases of their shopping journey,” Iannone said during the call.
The company wants to make it “really seamless to onboard a new listing, any item in your closet, your garage, your home,” with the ultimate goal of making selling on eBay easier than throwing old items away, Iannone said.
EBay will further develop its AI with a supercomputer that can help workers fine-tune the LLMs behind generative AI tools like Magic Listing, according to Innanone. Customer interactions provide the AI with more data.
The company’s AI investments are boosting its customer service operations as well. The marketplace is including AI tools in the refresh of its legacy contact system centers, adding capabilities such as examining customer intent data to help agents resolve inquiries faster, according to executives at Customer Contact Week 2024 in June.
“Once I know who you are, what you need help with, I can figure out what the best experience is going to be for you,” Dan Leiva, VP of customer service and marketing technology at eBay, said at the conference.
EBay on Wednesday reported second-quarter revenue increased 1% year over year to $2.6 billion, as gross merchandise volume ticked up 1% to $18.4 billion. The company also improved its profits during the quarter, with operating income increasing nearly 6% from the year-ago period to $549 million and net income growing more than 30% to $224 million.
Editor’s note: This story has been updated to include financial details from eBay's earnings.
