eBay Brings a New Chapter in Business Success to Thai SMEs Through its Online Marketplace, Capitalizing on the Stronger US Dollar
eBay facilitates Thai SMEs’ success with Thailand setting the record of highest number of eBay retail exporters in Southeast Asia making more than US$ 1 million
25 June 2015, Thailand – eBay announced details of the growing trade between Thai businesses and consumers around the world via its online marketplaces, which have been experiencing solid growth on the back of a re-vitalised US dollar.
Thailand’s eBay retail exporters sell to an average of 46 international markets – making them #1 in Southeast Asia (retail exporters are defined as eBay sellers with US$10,000 in sales to global customers i.e. buyers outside Thailand). This is five markets more than Singaporean retail exporters and 10 more than US-based retail exporters. In addition, Thailand has the most retail exporters in the Southeast Asia region. Thailand’s top three most exported categories are ‘jewellery and gemstones’, ‘auto–parts’ and ‘clothes, shoes & accessories’.
“The US is the top trade corridor for Thai retail exporters and the strengthening US dollar has been a key driver of growth,” said Mr. Ekachai Rukachantarakul, eBay Head of Southeast Asia CBT.
An exciting trend for Thailand businesses seeking to grow new revenue streams is the speed in which entrepreneurs are able to become a retail exporter, with 13% of new Thailand-based eBay sellers hitting the US$10,000 sales mark on eBay in the past year alone.
“This demonstrates the huge opportunities for savvy entrepreneurs seeking a larger, global pool of customers. All Thai sellers on eBay are engaged in retail exports, demonstrating the global nature of the platform and the ease in which an entrepreneur can start exporting”, said Mr Rukachantarakul. “They are now able to reach the global market directly in a way that is unprecedented in economic history. In traditional commerce, most small, medium and even large firms have limited exposure to international markets, with just 48% of traditional Thai commerce engaged in exports. The online retail export opportunities are far more accessible to Thai SMEs, and eBay has enabled these dramatic possibilities by providing a truly global shop front accessed by 157 million buyers around the world”, added Mr. Rukachantarakul.
SMEs play a very significant role in driving the growth of the Thai economy, and eBay aims to help local SMEs by providing them with a platform where they are able to deliver goods and services on an unparalleled global scale. With increasing levels of smartphone penetration and affordable broadband services, the entry barriers for Internet-enabled trading today are lower than ever before. Commerce platforms such as eBay have a pro-competitive effect and allow for equal opportunities for small entrepreneurs.
Thailand, as the nation with the highest total of eBay retail exporters in Southeast Asia, and the region’s highest number of retail exporters with annual sales in excess of US$ 1 Million, is seeing an increasing number of success stories selling on eBay’s US, Australia, UK and other global marketplaces.
A perfect example of a successful Thai entrepreneur is Mr. Wuttinum Sangon, the owner of TUFF. Mr Sangon uses eBay as an online marketplace to sell his range of products, including Muay Thai products such as shorts, gloves and protective gear. Mr. Sangon stated that eBay enables small businesses like his to compete with larger companies in the global market. It allows him to cut out the middle-man, making his products cheaper for customers. Moreover, owning an eBay business gives him the ability and flexibility to work from home, allowing him more time to spend with his wife and two daughters.
eBay is strongly committed to the evolution of commerce in Thailand, and continues to work hand-in-hand with local SMEs in improving business opportunities through Internet-enabled trade.
Key Thailand retail export trends:
- Thailand is Southeast Asia’s leading retail export nation with the largest number of retail exporters* on eBay in the region;
- Thai retail exporters* on eBay sell to more destinations than any other Southeast Asian retail exporter, with an average of 46 countries (5 more markets than Singaporean retail exporters and 10 more than US retail exporters);
- The 5 top leading destinations for retail exporters from Thailand are the United States, Australia, the United Kingdom, Canada and Russia;
- The top three categories for Thai retail exporters* on eBay are ‘jewellery and gemstones’, ‘auto–parts’ and ‘clothes, shoes & accessories’;
- The retail export opportunity on eBay is far more accessible to Thai SMEs than traditional export industries. 48% of traditional commerce players engaged in exports;
- 13% of new Thailand-based eBay sellers achieved more than US$10,000 in sales on eBay in the past year alone;
Note: * Retail exporters are defined as eBay sellers with more than US$10,000 in annual sales to global customers.
These and other findings were recently issued in an eBay Report Commerce 3.0: Enabling ASEAN SMEs. The analysis in the report is based on research by Sidley Austin LLP on datasets from eBay, and follows research conducted in the Asia Pacific, United States and Europe.
About eBay Marketplaces
eBay is one of the world’s largest online marketplaces, connecting people with the things they need and love virtually anytime, anywhere. eBay has 157 million active buyers globally and more than 800 million live individual and merchant listings at any given time. With mobile apps available in 190 countries, eBay delivers a personalized shopping experience and seamless access to inventory from down the street and around the world. Tailored shopping experiences customize buying and selling; and eBay provides variety and choice for sellers by enabling them to offer goods through online, mobile and local channels to consumers around the world. For more information, visit ebay.com.