eBay Trading Volume Drops 48% Amid Seller Frustration Over New Ad Model

On June 25, 2025, eBay's trading volume reached $357 million, marking a 48.04% decrease from the previous day. The company's stock price rose by 0.23%.

eBay has recently implemented a new Promoted Listings General ad attribution model in the UK, Australia, Spain, France, and Italy. This update has led to a significant increase in ad fees for sellers, despite no corresponding rise in sales. The new model attributes ad fees to any sale where a buyer clicked on the promoted version of an item within the last 30 days, even if the final purchase was made by a different buyer who did not click on the ad.

Sellers have expressed frustration with the new model, reporting that a large percentage of their sales are now being attributed to promoted listings, resulting in higher costs. For instance, one seller noted that 86% of their sales on February 26, 2025, were attributed to ads, with no additional value or increased sales. Another seller mentioned that almost every sale was attributed to Promoted Listings, with only a small fraction of organic sales.

The new attribution model has led to a significant increase in ad fees for sellers, without any commensurate boost in sales. This has raised concerns among sellers about the value of using Promoted Listings and has led some to consider discontinuing their use. The situation has also sparked discussions among sellers about how to optimize their strategies for the new model or whether to continue using Promoted Listings at all.