CEO of eBay says the future is mobile

mobile payments John Donahoe, CEO of ebay

John Donahoe, CEO of ebay
eBay CEO, John Donahoe, spoke at the Open Mobile Summit and stated that consumers are looking for the cheapest price, regardless of where they make the purchase, which means that the future is mobile and not e-commerce.

He explained that as mobile is used more widely, the line between conventional retail and e-commerce has been so greatly blurred that the latter is losing all meaning. Today’s consumers are walking into brick-and-mortar shops and are using their mobile devices from there in order to comparison shop for better deals and prices for the items that they want to buy, allowing them to make their purchase there in the store, or online, depending on what they find.

He added that over the last year to year and a half, eBay has reworked its perspective on e-commerce, and that it is now observing a profound difference in consumer behaviors. As a result, there will also be a greater number of changes in the next three years than there have been over the past twenty decades in terms of shopping and payment behaviors and methods.

He said that “Mobile devices are blurring the lines between online and offline at a rate no one would have predicted.”

This has given retailers a serious choice – to either accept mobile and start using it, or to begin experiencing a reduction in sales.

Donahoe went on to say that when compared to online businesses, such as Amazon, who know a great deal about their customers, offline retailers have very little knowledge about their shoppers. Should businesses continue to miss out on obtaining this type of understanding, then there will certainly be a negative impact on the sales that they see.

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