eBay builds internet commerce presence

Still driving home the importance of m-commerce, online giant eBay has agreed to acquire the 51 per cent stake in e-commerce platform Magento that it does not already own. Ebay snapped up 49 per cent of Magento last year in a bid to increase its offerings to online merchants.

Ebay is building a global, open commerce platform that leverages the worldwide developer community and Magento will be at the core of this open commerce platform, called “X.Commerce.”

Research released by eBay’s UK operation recently claims that m-commerce could deliver a £4.5bn boost to Britain’s economy by 2016 and a further £13bn by 2021, if nurtured correctly. The analysis was carried out by retail research firm Verdict, on 1,500 UK consumers in May, concluding that m-commerce in the UK is to be worth £19bn by 2021 as consumers become more comfortable with shopping on their handsets.

All eyes are now on the next battleground, which will see online giants like eBay and Google, face off against operators in the mobile wallet space.

One comment

  1. Avatar Keith Bird 09/06/2011 @ 10:59 am

    It’s very interesting – but not altogether surprising – to see that eBay is acquiring Magento. Magento is known for its strengths in mobile, social and local commerce. These three areas are broadly considered to be the future of e-commerce and where eBay goes, the rest of the market will surely follow. As such, we can expect to see a concerted effort by retailers of all sizes, spanning all market sectors, to begin harnessing mobile shopping, trusted recommendations and local knowledge – far beyond simply comparing prices on your smartphone while out on the high street.

    In fact just as we saw the smartphone mark the end of discussion around the ‘Mobile Internet’ and reaffirming the notion that there is only one Internet, this announcement is the strongest indicator yet that we’re heading towards a converged landscape when it comes to retailing too. There is only one ‘commerce’ – and this is what eBay is hinting at with its recent adoption the phrase ‘x-commerce.’ Platform and channel are largely going to become irrelevant to the buyer. It doesn’t matter whether it’s e, m, s or f commerce, what the consumer wants is selection, value and accessibility – which for retailers means ensuring that your products are available when, where how the customer wants them.
    Keith Bird, eSellerPro

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