Ebay assists Malaysian SMEs to export overseas

• Malaysian SMEs lead 38. 2% to the country’s GDP within 2020
• Two thrids of SMEs within SEA export to 10 international marketplaces

Online marketplace eBay has released the Southeast Asia Small Online Business Trade Record July 2022 highlighting the achievements of small plus medium-sized enterprises (SMEs) in Southeast Asia in expanding their global reach and selling to international markets using the firm’s global marketplace.

In a statement, the company said SMEs are the backbone of Southeast Asia’s economy and a vital tenet from the regional economic architecture.  

It noted that in Malaysia, SMEs account for 97. 2% of total businesses, contributing 38. 2%, or more than US$115 billion (RM512. eight billion), to the country’s GDP in 2020.  

Among the six Southeast Asian markets of Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam covered within the report, 68% associated with eBay-enabled small businesses exported to ten or more international markets, ebay said.  

In 2020, the region’s eBay-enabled small business community produced sales in 214 international markets, this added.

eBay said its global marketplace is usually uniquely positioned to offer Southeast Asian SMEs e-commerce export opportunities.  

It added that while less than 20% of traditional businesses within each of the six markets highlighted in this statement export, all eBay-enabled small businesses in Indonesia, Thailand, and Vietnam are exporters, and more than 95% within Malaysia, the Philippines, and Singapore use eBay to reach global consumers.

eBay’s regional general manager for Southeast Asia and India Vidmay Naini stated, “The marketplace offers 142 million energetic buyers across more than 3, 000 item categories with market access to 190  marketplaces. On eBay, foreign trade is no longer the opportunity of large businesses only. ”

“SMEs within Malaysia can easily reach consumers in some of the world’s largest customer markets, such as the US, UK, Germany, Australia, and become ‘mini multinational corporations, ” this individual claimed.

The report observed that seven from the top ten export marketplaces for eBay-enabled small enterprises in Malaysia aren’t in the top ten regarding traditional exporters.

It stated the top five item categories exported by Malaysian sellers on eBay were: car parts, home & garden, health & beauty, cell phones & accessories and collectors items.

The report indicated  Malaysian sellers on eBay have seen strong growth in a number of categories in 2021. For instance, in the auto parts plus accessories category, Malaysian sellers have grown wheels, tires and components sales by 29% in 2021, whilst electrical and ignition parts have grown simply by 76%.

There was also a rise in sales simply by Malaysian sellers upon eBay in the cell phones and accessories group, with smartwatches maximizing by 24%, headsets by 33%, plus smartphones by 15%, it highlighted.

Meanwhile, sports activities trading card public in the collectibles class increased exponentially in 109%.

An example is Jeff Liow is the director of Kings associated with Rim Malaysia (KOR), an eBay-enabled small business that has been selling auto wheels on eBay since 2016.  

According to Liow, “eBay provides opened more countries for KOR to branch out their particular business including countries such as the United States as well as the United Kingdom. ”

“During our infancy stages, this took us time for you to learn and adjust. Later on, eBay recommended moving most of KOR inventories to the US warehouse via the OCEAN forward deployment effort, ” Liow said.  

“Upon doing this, our own sales increased simply by tenfold and continued to rise as KOR became acquainted with buyers’ wants and requirements, and eBay provided the insights to allow us to make use of the global scene, ” he added.

Click here for more information upon eBay’s Southeast Asian countries Small Online Business Trade Report 2022.