eBay's (EBAY) latest townhall meeting featured Brian Burke, the manager and visionary behind Ebay's recently launched Feedback 2.0 system. Burke explained how the new system improves the buying experience and increases conversion rates (at least in tests).
Feedback 2.0 enhances eBay's current rating system by adding more detail (the current system is nearly worthless because so many sellers have 98%+positive feedback). Buyers can now rate sellers on four criteria: item description, communications, shipping time, and shipping/handling charges. Each category gets a 1-to-5 rating, and the average score is displayed on the seller's Feedback page. The goal is to drive traffic from bad sellers to good sellers and help all sellers improve.
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