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World e-commerce large eBay says it sees rising potential for varied export merchandise from Thailand, significantly jewelry, diamonds, gems and collectable playing cards, whereas the corporate is stepping up efforts to onboard suppliers of these things.
The corporate additionally notes a rising development in “recommerce”, which includes the promoting of beforehand owned or used merchandise.
“Our focus for eBay in Southeast Asia, particularly Thailand, is to drive the area to develop into the very best export market,” Vidmay Naini, newly appointed nation supervisor of eBay for Southeast Asia and India, advised the Bangkok Publish. “This can be a vital alternative for Thai SMEs [small and medium-sized enterprises] to begin exports for high-demand merchandise.”
Thailand serves as a serious export marketplace for eBay in Asean, which might doubtlessly provide merchandise to the world, he stated.
The pandemic has spurred digital adoption within the area, with virtually 400 million individuals going surfing.
MORE INVESTMENT
Mr Naini stated e-commerce is anticipated to stay strong within the post-pandemic period, whereas eBay plans to make a big funding to draw extra sellers onto the platform, create consciousness for world gross sales alternatives, and foster partnerships and the ecosystem.
Small companies can flourish if some enablement elements are fastened in Thailand, resembling low-cost transport choices for sellers, he stated.
The corporate goals to draw extra sellers of jewelry, gems and diamonds from Bangkok, Chanthaburi and Chiang Mai, Mr Naini stated. Collectibles is one other potential export market, he stated.
In 2021, Thailand’s high 5 export markets on eBay have been the US, Australia, the UK, France and Germany, whereas the highest 5 export markets for the area have been the US, Australia, the UK, Germany and Canada.
Mr Naini stated robust development of export merchandise on eBay from Asean, significantly Thailand, included jewelry, watches, auto elements, collectable buying and selling playing cards, and furnishings.
When the pandemic was intensifying, well being and complement merchandise, furnishings, and residential and backyard gadgets gained steam, he stated. Because the pandemic eases, demand for do-it-yourself merchandise has been rising.
In 2021, gross sales of watches with a median gross sales value in extra of US$2,000 per piece elevated by 62% year-on-year in Asean.
The positioning’s buying and selling or collectable playing cards class is rising quicker than the general market, stated Mr Naini. Collectable card fanatics all through Asean have been making the most of this development as consumers flip their hobbies into an alternate funding automobile.
“Our buying and selling playing cards enterprise has been rising for the previous six years. Collectable playing cards exported by Southeast Asian sellers through eBay has been rising in double-digit figures,” he stated.
From 2019 to 2021, there was a 39% compound annual development fee for bike elements exported from Thailand, Malaysia and Indonesia to worldwide locations, together with the US and Australia.
“We’re additionally seeing the rising reputation of furnishings exported from Malaysia to the US, whereas gems and jewelry exported from Thailand and Indonesia are standard within the US and Europe,” stated Mr Naini.
“Gems and jewelry are all the time wanted on eBay as there are frequent consumers in international nations who’re retailers, in addition to shoppers.”
The corporate is dedicated to persevering with its eBay NextGen programme, aimed toward offering a spread of advantages for SMEs to develop their enterprise on-line, together with subsidies price as much as $1,500 per vendor.
Within the fourth quarter of final yr, eBay had 17 million energetic sellers and 147 million energetic consumers from 190 nations. The platform noticed gross merchandise gross sales of $20.7 billion and 1.5 billion stay listings.
In October final yr, eBay’s managed cost system prolonged its service to Asean. The system delivered $2 billion in income to the corporate in 2021.
FLOURISHING RECOMMERCE
Rinlita Srirojpinyo, eBay’s Thailand head of selling, stated a latest examine by the corporate indicated that recommerce loved robust development with eBay’s customer-to-customer customers in 2021, delivering $2.7 billion of gross merchandise worth in used electronics and attire within the US, UK and Canada.
She stated thus far this yr, recommerce had grown quicker than the sale and buy of latest merchandise on the eBay market, which was pushed by Gen Z.
The analysis discovered the principle purpose individuals promote on eBay is to make additional money or complement their revenue, whereas 20% cited the round economic system as the highest purpose for buying second-hand gadgets.
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