eBay Shifts Growth Focus to Focus Categories, C2C Sales
eBay's growth is shifting towards focus categories, C2C (consumer-to-consumer) sales, and recommerce, according to management at Goldman Sachs Communacopia + Technology Conference 2026. The company said that 70% of its business now falls under these areas, which grew 20% in the second quarter.
Average spending per enthusiast buyer was $3,600 over the last 12 months as of the second quarter, and they represented about 85% of GMV (Gross Merchandise Volume). Enthusiast buyers grew 9% in the U.S., faster than the overall rate of 3%. AI is a major growth driver for eBay, with Magical Listing lifting listings per lister by 50% in the U.S. and card scans topping 80 million.
eBay Live is gaining traction, growing 8x year over year, while vehicles has already reached hundreds of millions of dollars in run-rate revenue after about one year. The company aims to return 90-100% of organic free cash flow through dividends and buybacks. Jamie Iannone said that AI 'has been a real structural tailwind for our business.'