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Trade, import and export for MSMEs: India is the fifth biggest market for e-commerce company eBay based on the proportion of small businesses selling on the marketplace as ‘newcomers’, said a new report by the company. With a 58 per cent newcomer rate, India was ranked after Morocco with a 98 per cent newcomer rate, Israel (68 per cent), Japan (62 per cent), and Malaysia (60 per cent). More than half of the small businesses on eBay, in nine of its 18 markets, were newcomers in 2020, the Small Online Business Inclusive Global Trade Report said.
eBay said it considers a small business a newcomer on the marketplace if it satisfies the sales level requirement of $10,000 in 2020 and has engaged in selling on the platform for no longer than four years. In other words, the business should not have recorded any sales on eBay during the period between 2016 and 2020 and must have exceeded the sales threshold of $10,000 in 2020.
“India’s newcomer rate of 58 per signifies that a notable segment of businesses in India are leveraging online marketplaces, such as eBay, to expand their customer bases and gain access to international markets,” Pavan Ponnappa, Head Categories, Acquisition & Marketing at eBay India Cross Border Trade told FE Aspire.
Also read: Amazon India simplifies the onboarding process making it easy for sellers to sell online
The company reportedly has over 1 lakh registered sellers in India.
Launched in 2005 in India, eBay’s India business was acquired by Walmart-owned Flipkart in April 2017 and operated as an independent entity. The two companies had also signed an agreement to jointly pursue cross-border trade opportunities. In exchange for an equity stake in Flipkart
Importantly, the latest report by eBay was based on data covering transactions on the eBay marketplace during the pandemic year 2020 across 18 markets globally instead of more recent data.
“Given the comprehensive nature of the report, spanning across various markets, it gives a clear and accurate view of how eBay’s level-playing field marketplace is breaking the traditional link between firm size and the ability to be a successful exporter,” Ponnappa said on the reference of 2020 data for the study.
Also read: Piyush Goyal to banks: Ensure affordable credit access to MSME exporters to achieve $1T export target
eBay currently runs its Global Shipping single-window shipment solution supported by logistic service providers for its cross-border trade sellers. The company said that in the near future, it will integrate ‘advanced logistics technologies’ to the solution to offer tracking, security, and customs clearance services. Moreover, “With the assurance of secure and traceable shipments, sellers can effortlessly expand their customer base globally, experiencing a new level of ease and simplicity in their shipping endeavours,” said Ponnappa.
The company had also launched Global Xpansion Programme last year for Indian brands, aggregators, exporters and manufacturers to help them get on board the marketplace, provide them with market insights along with merchandise support, seller tools global shipping services, mentoring by experts, and more to reach international markets.
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