eBay Inc. (NASDAQ: EBAY)'s growth decline started nearly two years ago. Now, as reported by The New York Times, the final spike has been driven into the very heart of what eBay once was. In a Johnny-come-lately effort to revive a growth curve which eBay's top brass blindly shackled ten years before its due, the company is shifting its focus from the tried and true, mom-n-pop auction strategy to a business model of "stock the shelves with all the discount crap that you can, and don't charge for the benefit." It's okay though, anyone who can achieve eBay's new "diamond power-sellers status" will be qualified for the same discount perks that eBay has negotiated with Buy.com. It's just too bad that the eBay stuffed shirts never figured out that eBay's sellers were its buyers also.
The discount store concept might have worked for eBay, if it had been tried as a parallel effort, while leaving the original working eBay alone. But of course, they had to tinker with the formula. I tried to warn you. Honestly.
If you got out in time, I applaud you.
Gary Sattler is a freelance blogger. He holds no position in eBay. His wife does still operate an active eBay store.
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