senninha
Joined: Jan 05, 2003
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eBay targets growing Philippine market
By Maricel E. Estavillo Reporter
A significant number of Filipinos are now hooked into trading goods and services online. In fact, the market has reached a volume in which the world's online marketplace eBay could no longer ignore, prompting the firm to launch a localized eBay website.
Similar to other eBay websites in other countries, the Philippine site allows registered users to buy and sell items and services but this time using the country's currency. Primarily targeted at individuals and small businesses, users can list and sell their items on eBay.ph at no charge.
eBay managing director for Hong Kong, Singapore and the Philippines Frederic de Bure told reporters yesterday that the number of Filipinos selling and buying items and services online even prior to the local launch is significant and enough reason to invest in the eBay Philippines website.
"We timed it as immediately as we could based on the feedback from the users. There are thousands of sellers who live here in the Philippines even before this [launch]. And if we did not have a strong seller base, we wouldn't have launched it," said Mr. de Bure referring to the volume of sellers here. Most of the items sold in the Philippines fall into the collectibles, clothing, and sports accessories categories.
The Philippines is the ninth country in the Asia-Pacific region which has a localized eBay website. Other countries are South Korea, Singapore, Hong Kong, Australia, New Zealand, Taiwan, China, and India.
According to the January Internet Commerce Model report of information and technology (IT) research firm International Data Corporation (IDC, business-to-consumer e-commerce worldwide is expected to grow from $828 million in 2004 to $2.9 billion in 2007.
E-COMMERCE OPPORTUNITIES
Mr. de Bure is optimistic that the localized website can widen the e-commerce opportunities in the Philippines and lure other global e-commerce players to invest here such as its payment solution provider PayPal. PayPal is delaying its entry in the country because of regulatory requirements , said Mr. de Bure.
At present, the Philippine eBay site only provides a platform for selling and buying items and services online. Payment and delivery mechanisms are still up for the market to decide, said Mr. de Bure. "We don't want to force a single payment mechanism. Customers can look at online payment, , mobile payment or they can opt a more personal way such as meeting in a coffee shop."
Founded in September 1995, eBay has 125 million registered users worldwide who trade in more than 50,000 categories. At any given time, there are more than 34 million items available on eBay worldwide and more than 3.5 million new items are added each day.
The company's net revenues totaled $ 805.9 million in the third quarter of this year. Its users worldwide are trading more than $1,060 worth of goods on the site every second, according to an eBay global report. |
Posted: 2004-11-18 08:20
