Today, eBay has 168 million active buyers worldwide buying items from over 1.1 billion listings in our marketplace. With this, we can help Malaysian SMEs expand their business opportunities by providing a global shop front accessed by buyers across the world.
Based on transactions conducted on the online marketplace, eBay revealed that the top three export destinations for Malaysian sellers are the United States of America (USA), Australia and United Kingdom (UK). USA remains its position as the top export destination for businesses based in Malaysia, with a 60% growth from the previous year. Additionally, the fastest growing corridor for cross-border transactions are Germany (336%), Ukraine (108%) and China (107%) respectively.
Asia Pacific is recognised as the world's fastest growing eCommerce region and Malaysia is now leading the eCommerce market in the region, generating a revenue of US$2.3billion in 2015. The increase in broadband penetration coupled with strong government support for Internet-based retail has lowered the entry barriers for Malaysians to do business online. A one-stop solution for internet retail, eBay is a global platform with local players in mind. With a wide global audience, eBay acts as a catalyst for local entrepreneurs to extend their listings internationally.
“Today, eBay has 168 million active buyers worldwide buying items from over 1.1 billion listings in our marketplace. With this, we can help Malaysian SMEs expand their business opportunities by providing a global shop front accessed by buyers across the world. With Malaysia’s current developed internet infrastructure and the Digital Free Trade Zone on the horizon, there’s no better time for Malaysian SMEs to go global,” said Wong Mei Inn, Country Head Trade, eBay Malaysia.
With a vision to empower people and create opportunities through Connected Commerce, eBay seamlessly links sellers with buyers worldwide using the following two strategies:
The improved platform comes with Structured Data
With the aid of Artificial Intelligence (AI) and structured data, eBay’s refreshed platform allows buyers and sellers to meet and transact effectively. eBay has developed a more powerful AI to improve personalisation and deliver more targeted product suggestions to buyers while enabling sellers to do market research and easily track sales performance. eBay’s enhanced innovations improve sellers’ listings and traffic, and create a more targeted promotional marketing campaigns. This will help sellers to continuously grow their businesses, increase sales and connect with global buyers more efficiently.
A plan to boost Malaysian sellers’ performance
eBay is also focusing on offering localized seller support to cataly se the growth of Cross Border Trade sellers in Malaysia by developing strategic initiatives to equip local business owners with a competitive edge over host sites’ sellers. Support will be provided in three parts:
- Technical: In 2018, eBay will be focused on developing a platform for sellers to better manage orders and shipping, helping to ease admin processes so time saved can be spent on other business priorities.
- Logistical: Sellers eligible for the Managed Account Program (MAP) can manage their goods more efficiently with access to overseas warehouses, on top of collaboration with carriers and third-party providers via eBay.
- Education and Business: Sellers are kept up to date with business best practices through localized education materials. To further enhance business growth, eBay also offers one-to-one business consultation and customized solutions for local sellers in MAP.
“In the era of the digital economy, eCommerce is the way to go for businesses, especially with the nation’s market growth expected to grow to RM 16.3 billion in 2017 alone. Malaysia is taking the necessary steps to help Malaysian SMEs grow by providing funding for SMEs as announced in Budget 2018 as well as through the Digital Free Trade Zone (DFTZ) initiative. As a global marketplace, we help our sellers set up virtual stores in many countries to help increase visibility. eBay’s low entry barriers for Internet-enabled trading provides Malaysian businesses with countless opportunities for boosting exports,” she concluded.