THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Ebay achieves 25% rise in million pound business

New data from Ebay has shown that the number of million pound businesses on Ebay is set to rise by 25% this year.

GENERAL MERCHANDISE

Ebay achieves 25% rise in million pound business

New data from Ebay has shown that the number of million pound businesses on Ebay is set to rise by 25% this year.

Ebay said it expects to see 159 ‘million pound businesses’ trading on the site, with the Home and Garden, Fashion, Motors and Consumer Electronics sectors driving growth.

This will be the fourth year of consecutive growth in the number of Ebay millionaires. Last year, five businesses achieved turnover of £1 million in just their first year of trading, and this year, Ebay says over 10% of millionaire businesses are expected to turnover at least £3 million.

Ebay found that nearly all (98%) of this year’s millionaire businesses were boosting their sales through exports. Overseas sales from Ebay’s UK SMEs accounted for £446 million of sales on the site in 2010. New figures project that 11 of this year’s millionaire businesses will see over £500,000 of revenue generated through exports, with two online SMEs projected to achieve over £1 million of sales in exports alone.  The top export markets for Ebay SMEs are the United States, Australia, Germany, Ireland and France.

Commenting on the figures Angus McCarey, Retail Director for Ebay UK said: “We’ve seen a surge of businesses starting up on Ebay since the recession which shows the vital role online businesses play in supporting the fragile UK economy. Many Ebay businesses including some of our millionaires are selling offline as well so their total contribution to the UK economy is even more substantial.

“Whilst the UK economy is often compared unfavourably to Germany, our figures show good reason to be optimistic. Online SMEs are growing faster on Ebay.co.uk with millionaire businesses developing at three times the rate compared to Germany.

“Exports are helping to drive this success as UK SMEs benefit from the international audience that selling online gives them. There are considerable opportunities for SMEs willing to ship internationally to EU and global customers.”

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process