Capmark Financial Group’s newly combined companies generated more than $1 billion in 2014 e-commerce sales.
The online marketplace says the service leads to increased spending on the site.
EBay Inc. this week pumped up its marketing effort for its buyer protection program, an effort introduced in January that aims to guarantee purchases made on the online marketplace.
In a campaign scheduled to last a month, eBay says it will promote the service with on-site ads and marketing messages in e-mails and through social media. EBay says it expects the campaign messages will be seen 25 billion times.
The buyer protection program enables eBay shoppers to contact its customer service workers should problems arise with a purchase and the seller cannot fix the problem. Problems can include shipping issues or receiving the wrong item. After seven days without a resolution, buyers can receive refunds on the purchase price and shipping costs. EBay deposits the refunds into customers’ PayPal accounts.
“EBay creates opportunity for millions of independent sellers and small‐business entrepreneurs who are creating jobs through their businesses on eBay,” says John Donahoe, eBay’s president and CEO. “Buyer protection helps these independent sellers and small‐business entrepreneurs compete more effectively with national retailers by increasing consumer confidence and trust.”
The online marketplace says shoppers who know about buyer protection spend twice as much on the site as those who do not, and are 30% more likely to recommend shopping on eBay to relatives and friends.