"96% of the US eBay-enabled small businesses get to sell their products to 17 different countries."
The Impaakt Team
7 min Read Time | February 26th 2021
The W.O.W. Award
Welcome to our WOW (weekly outstanding work) award.
Each week we share the latest and greatest impact article published on our impact measurement platform.
Written by our community, with the aim to hold companies to account for their environmental and social impact, each of the articles is carefully vetted before they are published and this award selects the best work from the week.
Find out who the winner this week is by reading on:
“96% of the US eBay-enabled small businesses get to sell their products to 17 different countries.”
"Stepping back to look at the greater impact of a sales platform like eBay on small businesses is an essential skill in analysing the core impact of a business. Shubham does a fantastic job at giving us the context of the impact generated, a well-written piece."
Read the full impact analysis below and ensure you log in or sign-up to make your ratings about the impact the topic in this analysis has on the environment and society.
The US had 30.7 million small businesses operating in 2019, representing 99.9 percent of the overall US businesses1;p1. As per the US Bureau of Labor Statistics, at the end of their first year, around 20% of small businesses fail2. Their failure's primary causes are the inability to find customers and lead generation2.
eCommerce offers a vast platform for small businesses to sell their products over the internet3. In 2020, about 227.5 million people, or 69% of the entire population, chose to shop online4. By 2021, the online shopping market sales are estimated to reach $4.9 trillion4.
Since 2005, eBay is one of the most prominent online marketplaces for sellers, offering a broader platform to sell their goods5. The company had more than 182 million users and 1.3 billion product listings as of 20195. Over 25 million sellers use eBay, with 7 million from the United States5.
96% of eBay-enabled small businesses sell to 17 different countries globally6. The US traditional small businesses that export (only 1%) generally reach four international markets, whereas 60% of eBay small business sellers get to sell to four or more continents6. In the communities that are in moderate to severe financial hardship (about 100 million), eBay-enabled small businesses increased by 21% compared to 1% of traditional firms between 2011 and 20166.
In the third quarter of 2020, the gross value of products sold by the US eBay marketplace reached $9.79 billion7. Over 25,000 sellers that enrolled for eBay Payments in 2019 and 2020 received $2 billion of GMV (Gross Merchandise Value)8.
eBay promised $100 million in 2020 to help small business owners move to its eCommerce9. Since the launch, the business registration numbers increased by 55% on eBay10.
eBay offers a large-scale platform for small business owners in the United States that helped them grow and save their businesses. The company continues to increase eBay-enabled small businesses through its online platform.