eBay Inc. (Nasdaq: EBAY) has launched a new product, Stuff, which was developed in Israel, to enable consumers to manage all their purchases on a single site. eBay's Israel Innovation Center, based on its acquisition of The Gifts Project in 2011, developed Stuff as the next thing in proper consumer management. After the user provide authorization, Stuff scans his or her e-mails to locate receipts for past purchases, whether or not they were made via eBay.
"It can be a product bought on Amazon, or a brick and mortar Macy's store, or even online, such as a for-pay app, Skype calls credits, or additional storage space on DropBox," says eBay's Israel Innovation Center manager Ron Gura. He said that there were many brick and mortar stores in the US which send receipts via e-mail instead of a hard copy.
Stuff collects all the receipts in one accessible place, but this is just a sideshow. The site offers in-depth analysis of the user's purchasing history, cross-referenced by amount, type of goods, date purchased, and location of the store or vendor.
Stuff can also monitor deliveries on a map of the world, and updates the current value of goods previously bought, and facilitates their sale on eBay with a hotspot and without the need to type in technical details. Stuff also offers recommendations on complementary products, on the basis of people with similar purchasing profiles as the user.
Another element is the ability to better know the user and offer him or her to offer them much more relevant products. "On the basis of the receipts, we know what you bought, so we know how to sell you what you lack, rather than to try to sell you Kindle when you already bought one two months ago," says Gura. "The information we receive is stronger than your Like on a brand's page or your online search for a particular product. We're not talking about someone who is considering buying something, or is searching for information, but about the receipt, actual ownership of a product."
Stuff also provides updates on lower prices on the basis of prevailing policy in the US, under which a person is eligible for a refund on the difference between the price paid for a product and a subsequent drop in the price for that product within 60 days.
Gura says that it will also be possible to receive alerts on product recalls and to share products purchased with friends.
Published by Globes [online], Israel business news - www.globes-online.com - on May 21, 2013
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