EBay VP Says M-Commerce Has Arrived
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Don't look now e-commerce, but m-commerce has arrived.
So says EBay's vice president of mobile Steve Yankovich, who told CNBC's "Squawk on the Street" that the Thanksgiving weekend kickoff of this shopping season saw more than double the transactions on the company's mobile platform than last year.
"Mobile growth has been phenomenal," said Yankovich. "Think of only four years back — no one thought about mobile at all. Now we expect to do $10 billion globally on eBay Mobile."
As mobile devices become increasingly ubiquitous — smartphone shipments are expected to be up 45 percent compared with last year, reaching 718 million new units globally, according to IDC Worldwide Quarterly Mobile Phone Tracker — for many, they are the go-to vehicle for shopping.
The key, said Yankovich, is convenience.
"It's not on the retailer's time, it's not on the e-commerce site's time when [consumers] are at a computer," he said. "It's when does it matter to you, and when do you have moments to act on impulse."
Yankovich said there's everything from small-value trinkets to six-figure cars being bought and sold on eBay Mobile every day.
EBay's stock has lately been riding high, reaching levels not seen since early 2005. It closed Friday at $51.74, up 75 percent from a year ago.
The online auctioneer also got a boost from its PayPal unit, which reported mobile payment volume rose 190 percent on Cyber Monday.
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