93% of Small Businesses on eBay Expand Beyond Domestic Borders through Exports: eBay Small Online Business Inclusive Global Trade Report
Friday, 7 July 2023
*eBay*, a global commerce leader that connects millions of buyers and sellers around the world, released its 'Small Online Business Inclusive Global Trade Report*. The report reveals remarkable export success by small businesses using eBay in 18 international markets. eBay small businesses are making their mark globally, as this report revealed that, across the 18 markets studied, at least 93 percent of the small businesses on eBay in each country exported. In 10 markets, the export rate was fully 100 percent!. Interestingly, this trend is also seen in India, as it boasts a whopping 58% newcomer rate in cross-border trade in these markets.
*eBays report: India among top 5 newcomer markets*
Compared to traditional offline businesses, eBay sellers are able to export their products to a higher number of countries. While smaller offline businesses often face challenges in exporting to a limited number of countries. eBay small business exporters have been found to sell their products to an average of 13 to 35 international markets. This represents a three to six times greater performance compared to offline trade.
Some more key insights from eBay's Trade Report on small businesses worldwide include:
· The percentage of eBay small businesses achieving 'Global Seller' status (defined as having sales to four or more continents) varied by country. Across the 18 markets analyzed, this ranged from 29% to 91%
· The percentage of small businesses on eBay that export ranges from 93% and 100% and vary on a market-by-market basis. In contrast, offline export rates peak at a high of 31%
· eBays top export markets for small businesses differ from traditional national markets, with an average of 5.7 unique target markets for small businesses not found in their countrys top 10 export destinations
· 13 out of the 18 eBay small business communities studied in the report, successfully sold their products in 200 or more different global markets in 2020, establishing themselves as virtual export powerhouses
· The ability of new enterprises to enter the market is a key element of economic growth. This report defined newcomer as a seller who must have no sales on eBay in 2016 or later and break the mark of $10,000 USD on the marketplace in 2020.**In nine of the markets analyzed in this report, over 50% of small businesses on eBay were newcomers to the platform in 2020. Also, the percentage of new small businesses exceeded 25% in all 18 countries studied*. *
"India is among the leading emerging economies globally, where the digital economy is experiencing exponential growth. Small and medium-sized businesses (SMBs) are the driving force behind this unprecedented growth. At eBay, we are proud to be at the forefront of breaking barriers to trade and empowering small businesses to succeed in the global marketplace. This report reinforces the critical role that ecommerce marketplaces like eBay play in promoting more inclusive and robust economic outcomes. By highlighting the value of trade facilitation and small business empowerment, we can work together with policymakers to create a more level playing field for businesses and drive economic growth worldwide," said *Pavan Ponnappa, Head Categories, Acquisition & Marketing at eBay India Cross Border Trade*.
*** This report is based on data covering transactions on the eBay marketplace in 2020 unless otherwise indicated*About eBay*
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the worlds largest and most vibrant marketplaces for discovering great value and unique selection. In 2022, eBay enabled nearly $74 billion of gross merchandise volume.
For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
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