Wednesday, January 28, 2004

The Way To Do Business

The value of all goods sold at eBay in 2003 totalled $24 billion, a 60% increase over its $15 billion sales level in 2002. eBay is no longer a business, but a way of doing business, an important distinction. It exists, now, to facilitate other businesses, much like the New York Stock Exchange, only more lucrative. It's supplanted the mom-and-pop strip mall store as well as upstart, entrepreneurial websites like those of the mid-1990s. More significantly, it's rendered outlet malls obsolete as anything but a day-long amusement destination, since major retailers, from IBM and Disney to Coach purses and every major designer, use eBay as their primary secondary market for unsold goods. Sadly, it's also replaced Avon ladies, Tupperware consultants and Creative Memories reps, as all are sold on eBay at much cheaper-than-retail prices.

The retail revolution has already occurred, although it will take a while, maybe ten years or more, for the casualties to formally expire. Put your investment pennies into blue-chip cyber retail. It can only go up from here.

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