eBay launches its Global 24/7 program this month, with the aim to help SMEs start their global online business by providing several benefits and tools, including incentives of up to USD 2,900
eBay say its e-Commerce accelerator program is specifically designed to help SMEs leverage eBay’s platform for global export as the economy gradually enters a recovery phase.
The program provides start-up incentives, necessary tools, trainings, and assistance for business owners to tap into eBay’s global marketplace of over 174 million active buyers.
According to eBay SE Asia Head of BD Tam Yong Shen, the program is extended to markets across the Southeast Asia region which includes Singapore, Thailand, Indonesia, Philippines, Vietnam, and Malaysia.
“Global e-Commerce has experienced exponential growth due to a shift in consumer behaviour, following the Covid-19 pandemic. Singaporean SME exporters on our platform have seen a corresponding increase, especially in the home improvement, automotive, watches, and sporting goods categories, where volumes have more than doubled from the same period last year. This shows that e-Commerce is a key driver for SMEs to recover from the economic downturn. Our aspiration with the Global 24/7 program is to empower businesses by helping them move online more quickly and giving them the opportunity to participate in an international marketplace with approximately 1.5 billion live listing at any given time across 190 markets,” says Tam.
The Program will run from 1 July to 31 December 2020 and eBay claims it offers the following benefits to new sellers:
New Business Seller Incentive: eBay will waive 100% of eBay Store fees at the basic subscription tier and 50% of fees for businesses to use Promoted Listings to advertise their products. Total rebates for each seller can be as high as USD 1,000 . These benefits will significantly reduce the cost for SMEs to grow their business online.
Educational webinars: eBay will be conducting bi-weekly webinars for business owners to gain insights on cross market selling opportunities on eBay, best practices to optimize listing ranking and visibility, and tips on developing a traffic generation plan to their virtual storefront.
Free Access to Product Listing Tools worth up to US$700: Sellers will have full access to Viewider, enabling easy product information migration from their existing online selling channels. Those in the Automotive category will be entitled to additional listing assistance to map their items to eBay’s Master Vehicle List, enhancing visibility through eBay’s fitment finder. These tools will reduce the amount of manual work SMEs need to complete and accelerate their go global journey.
Preferential Shipping Rates and US Storage Fee Subsidy: In partnership with DHL Express, this program offers new businesses discount shipping rates from Southeast Asia, and a dedicated account manager to expedite the account opening process. For businesses who are keen to store their items in the United States to provide a better buyer experience, eBay will provide a subsidy (worth USD 1,200) of 12-months of storage fees in partner warehouses.
Dedicated account manager: Each business owner with more than 100 products on eBay will also be assigned a dedicated account manager for personalised guidance and consultation to ensure they make the most of their online store.
Market intelligence: To help business owners make better informed decisions and strategies, eBay will be creating local market intelligence reports for their specific product categories and industries.
Meanwhile, recorded webinars and self-help tutorials will be available at the eBay e-Commerce Accelerator webpage. All in all, the benefits under the ”Global 24/7” initiative have been carefully tailored with the main purpose of upskilling small business owners to digitalise and globalize their businesses in a sustainable manner and significantly reduce the cost for them to setup their digital storefront on eBay.
According to eBay, the United States, Australia, and United Kingdom are the top three export destination markets for Singaporean SMEs on eBay, with automotive parts being the leading category of sales globally, followed closely by home improvement items, cellphones and accessories, and health and beauty products.
Simultaneously, retail exports by Singaporean sellers on eBay continue to grow rapidly in a variety of product categories, hence, indicating the opportunity for SMEs in the global marketplace. In the first quarter of 2020, eBay says compared with the same period last year, these categories have grown tremendously in terms of items sold:
For the US market, the electronics (digital cameras) category is the most popular, seeing a growth of approximately 130% in terms of items sold
As for the United Kingdom, Singapore’s cross-border trade for the electronics (mobile & smart phones) and men’s clothing products have recorded over 150% and 650% growth rate respectively
Sales of skin care products from Singapore to Australia have increased more than 100% and electronics (digital cameras) over 120%
In Germany, there has been a growth of about 200% in the media, DVD & Blu-ray disc category.
(Ed. eBay claims SMEs who have an existing business but do not have an eBay store are eligible to apply for this program. This includes large and small businesses across the value chain – from manufacturers to dealers to retailers. To get started, they will need to apply on eBaySEAforbusiness.com and follow the instructions that follow in the subsequent email. The application period for this program is from 1 July to 30 September 2020. Featured image of eBay Head of Business Development Southeast Asia Tam Yong Sheng provided courtesy of eBay.)