eBay India Projects Up To 60% Growth In 2011
The fast-paced Indian e-commerce market will push eBay India to grow by 50-60% in the next 12 months, according to the leading online retailer.
This projection comes close on the heels of a report by Internet and Mobile Association of India (IAMAI) that forecast a 47% growth in India's e-commerce market this year.
Business Standard reports quoting Kashyap Vadapalli, director (categories & business development), eBay India, as saying that there were 2-3 million consumers buying online in 2010 and the market was expanding 4x every three years.
eBay India claims a market share of 45%. It has 13,000 vendors currently selling via the website and 1 million live listings.
Globally, too, eBay Inc is witnessing a growth in transactions, registered users as a result of improved search experience and more listings. The company has projected a 10-14% growth in annual revenue and earnings in 2011-2013, with revenues expected to touch $13 billion in 2013 compared to approximately $9.2 billion in 2010. It expects compound annual non-GAAP earnings growth of 10-14 percent. PayPal is expected to significantly increase revenue to $6 billion to $7 billion in 2013.
The company is now focused on emerging trends in mobile, local and social commerce. eBay Inc's gross merchandise volume through mobile apps itself is expected to double to $4 billion in 2011.