Bob Peck, Managing Director at Bear Sterns kicked off the PeSA conference with a stellar key note address on Wednesday night. During his presentation, Bob clarified for attendees the extent to which the e-commerce industry has not yet been tapped by the average consumer. One of the reasons he cited for this gap between people who go online and people who buy online is the issue of trust.
Bob noted that sellers need to work to increase consumers trust to ensure for greater growth and success within the industry. Also discussed was the effect of eBay store increases on the platform’s profitability. Although Peck was the first to downgrade eBay stock, he had a positive response to the increase. While many sellers’ reactions to eBay store fee increases were negative, Bob looked at the event as a way to “clear the clutter” from the eBay platform, thus increasing the quality of sellers.