eBay Southeast Asia Hosts Landmark Summit in Thailand Promises Unprecedented Opportunities for Automotive Parts in Cross-Border Trade
eBay Southeast Asia Hosts Landmark Summit in Thailand Promises Unprecedented Opportunities for Automotive Parts in Cross-Border Trade
eBay, a leader in global e-commerce, recently hosted the Southeast Asia (SEA) Automotive Top Sellers Highlight 2024 event in Thailand, bringing together approximately 50 prominent sellers from Malaysia, Vietnam, and Thailand. This gathering focused on updating vital policies, sharing best practices, and preparing sellers for the forthcoming peak season in the fourth quarter of 2024. The event featured a compelling keynote speech outlining the vast opportunities on the eBay platform and in the thriving automotive parts segment.
Mr. Pavan Ponnappa, Head of Parts & Accessories, Global Emerging Markets, said, “The Southeast Asian market is one of the most dynamic and diverse regions we have at eBay. The dedication and passion each seller brings to this marketplace are what make it so special. With nearly 2.1 billion live listings and 132 million active buyers spanning 190 markets, the opportunities for growth are immense. This event is a testament to our commitment to supporting sellers and ensuring that they have all the tools and resources needed to succeed.”
The SEA region is one of the most dynamic markets for eBay, characterized by its diverse range of products and sellers. Mobile transactions constitute more than $12 billion in annual business, demonstrating the extensive reach and scalability offered to sellers.
Further emphasizing their international reach, it was noted that sellers from the SEA region, on average, serve more than 25 different markets. Additionally, more than 68% of sellers from this region engage with over 10 markets worldwide. While the US and UK are prominent markets, many other regions contribute significantly as well.
The automotive parts sector is a particularly thriving category on eBay, highlighted by its sales velocity in 2023:
- Lighting & lamps: 40 transactions per minute
- Wheel or tire parts: 1 sold every 6 seconds
- Brake parts: 4 sold every minute
- Motorcycles (2w): 17 transactions per minute.
“Sales velocity for automotive parts is astounding, and the potential for sellers to expand and succeed in this category is immense. We are seeing healthy growth for new parts originating from Southeast Asia, particularly in markets such as Thailand and Indonesia. This is an incredible opportunity for every seller here to tap into and grow their business exponentially,” emphasized Mr. Ponnappa.
The automotive Parts & Accessories (P&A) category holds a prominent position within eBay:
- Globally, it is one of eBay’s top categories, accounting for more than $10B in annual Gross Merchandise Volume (GMV).
- In the SEA region, P&A is also one of the top categories on the platform.
Out of 4,700 auto parts accounts on eBay in the SEA region, 500 are managed accounts, which include over 300 sellers. These managed accounts have access to dedicated support and resources to drive business growth.
Year-over-year growth metrics are also significant, with the highest growth observed in the Philippines, followed by Vietnam, Indonesia, and other countries. Thailand remains the top contributor within the region, showcasing its importance and potential.
Reflecting on recent performance, growth in GMV for automotive P&A continued in the second quarter of 2024 driven by the efforts of sellers and the popularity of automotive brands highlighted during the event.
The event not only reinforced eBay’s commitment as a leading platform for automotive P&A but also aimed to raise awareness among potential exporters and small and medium enterprises about the expansive opportunities.
