Trade Me To Host 35 Million Auctions In 2005

Trade Me To Host 35 Million Auctions In 2005

And Kick-start 1000 New Kiwi Businesses

Trade Me expects to host over 35 million auctions in 2005 and create over 1000 new small businesses as Trade Me sellers scale up and turn professional.

“We already have about 250 professional sellers on Trade Me,” said general manager, Sam Morgan. “They employ people to list and ship their goods and are selling increasing volumes of goods. Some are importing and they tend to have pretty good relationships with their local postie.”

“We’re forecasting a four-fold increase in this type of seller as New Zealanders’ entrepreneurial spirit really starts connecting with a single online marketplace.”

Over the last year annualised online auctions increased from 8 million to 19.2 million, and monthly visitors increased from 360,000 to over 1 million. The company predicts an annual rate of 35 million auctions by the end of 2005, with New Zealanders being one of the world’s fastest adopters of online auctions. This equates to 4000 online auctions every hour.

In a unique move Trade Me recently gave notice to most offshore sellers, restricting sellers to New Zealanders or Australians with a New Zealand bank account.

“Our buyers told us they go to Trade Me to get a bargain from other New Zealanders. They don’t want us to be the world’s biggest auction site, they just want us to provide the best and safest way for Kiwi’s to buy and sell.”

“Our aim is to make Trade Me the world’s safest auction site with a single legal jurisdiction, improved delivery times and reduced risks.”

“People want to buy locally so they can pay through internet banking and take delivery within a few days. It also creates opportunities for New Zealand sellers to parallel import goods and compete with other retailers.”

Trade Me won the Deloitte//Unlimited Fast 50 Award for the fastest growing business in 2004 with 1073% growth and are aiming for a similar result this year. “We think we can get a podium spot in 2005. We just hope that the posties can keep up!”.

Trade Me has 850,000 registered traders. The biggest growth categories in 2004 were house and garden, automotive and art.

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