eBay reports Indian market as 5th largest for ‘newcomer’ small businesses

New Delhi, July 3 (KNN) India is the fifth biggest market for e-commerce company eBay on the basis of small businesses selling on the marketplace as ‘newcomers’.

According to eBay’s new report India was ranked in the fifth position with 58% newcomer rate after Morocco (98%), Israel (68%), Japan (62%) and Malaysia (60%).

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.

For small business to be considered as a newcomer eBay sees if the business satisfies the sales level requirement of USD 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 USD 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. 

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.  (KNN Bureau)