Kiwis Go Online As Economic Conditions Contract

Media Release

25 October 2008

Kiwis Go Online As Economic Conditions Contract

New Zealanders are turning to internet sales for additional cash according to the latest sales figures from Trade Me.

``As economic conditions contract we are see increasing numbers of people selling their household and recreational items,’’ said Trade Me’s head of commercial, Mike O’Donnell.

The online marketplace has seen listings increase by up to 20% in categories such as trampolines, sporting equipment, toys, mobile phones and whitewear. All of these categories now have sell through rates of over 40%.

``We’re also seeing increasing numbers of retail businesses listing new items for sale as they try to expanding the size of their buying audience.’’

Over 47% of goods on Trade Me are now new goods, a far cry from early days as an online garage sale. In addition the number of luxury cars listed for sale has increased, with strong growth in Ferraris, Bentleys and Maseratis. The site has even had to create a new category for Lamborghinis.

Trade Me’s property and job websites have also started to see signs of a seasonal spring flush, with a large inflow over the last month.

Over 1800 new house listings have been put up for sale over the last four weeks, and over the same period the number of $100,000+ jobs has increased 20%.

ENDS

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