Auction Sites Have Banner Month in May

Auction sites grossed recorded revenues of $556 million in May 2001, according to Nielsen//NetRatings and Harris Interactive. Not surprisingly, eBay.com led the pack with 64.3 percent of all auction revenues.

The May 2001 eCommercePulse survey from Nielsen//NetRatings and Harris Interactive examined 35,000 Web users, and found that auction spending in May 2001 spiked 149 percent to $556 million from $223 million in May 2000. Auction revenue accounted for more than 10 percent of total e-commerce spending in May 2001, rising from 8 percent the previous year.

“Auctions have grown from a niche clientele of collectors to become a mainstream vehicle for online purchases,” said Sean Kaldor, vice president of e-commerce at NetRatings.

More than 6.2 million surfers made online purchases at auction sites in May 2001, jumping 22 percent from 5.1 million in May 2000. That positions auctions as the third largest e-commerce category in number of purchasers behind books and apparel.

Total e-commerce spending for May 2001 increased 104 percent to nearly $5.4 billion, as compared to $2.6 billion the previous year.

eBay led the online auction category in May, accounting for 64.3 percent of total auction revenue. uBid followed with 14.7 percent while Egghead.com and Yahoo Auctions each took 4.0 and 2.4 percent, respectively. Rounding out the list, Amazon.com accounted for two percent of overall auction revenues.

“eBay has done an excellent job converting a very high percentage of their shoppers into buyers and keeping customers extremely satisfied at the same time,” Kaldor said. “This has enabled them to dominate the online auction category with four times more revenue than their next closest competitor.”


Top Auction Sites Ranked by Revenue Share
May 2001 (U.S.)
Rank Site Revenue
Share
Satisfaction
Rate
Conversion
Rate
1. eBay.com 64.30% 8.42 22.50%
2. uBid.com 14.70% 7.87 11.00%
3. Egghead.com
(OnSale.com)
4.00% 7.75 8.00%
4. Yahoo Auctions 2.40% 7.84 4.40%
5. Amazon Auctions 2.00% 7.64 6.50%
Auction sites do not include travel related sites.
Figures for eBay.com do not include figures for Half.com.
Source: Nielsen//NetRatings & Harris Interactive

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