Small online businesses outperform traditional traders with 93% export rate in 18 countries: Report
small online businesses have shown remarkable resilience and adaptability, which has played a crucial role in their tremendous success. To gain deeper insights into the performance of these businesses across the globe, eBay, a global commerce leader that connects millions of buyers and sellers around the world, released its 'Small Online Business Inclusive Global Trade Report’. This report, covering 18 markets worldwide, showcases the remarkable success of small businesses in the global export industry. Small businesses worldwide demonstrate a remarkable level of activity, with at least 93% of them engaging in exporting their goods on diverse global marketplaces. Moreover, India is a notable new player in small business exports, with a 58% newcomer rate in cross-border trade. Another interesting revelation was that businesses with online presence are averaging sales into 13 to 35 international markets, compared to the limited reach of offline businesses. The report provides significant insights and intelligence about the expanding eCommerce industry. Its key findings comprise:Small online businesses are reaching multiple international markets
Small businesses that export their goods online are reaching three to six times more markets than those limiting their exports to offline trade A high percentage of small businesses are selling their products in ten or more export markets, ranging from 42% to 93% Through online presence, small businesses included an average of 5.7 export markets that are not among their country's top 10 export destination targetsOver half of the small businesses on eBay in nine of the markets covered in the report were newcomers, and the newcomer rate exceeded 25 percent in all 18 countries Digital
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