Is there room for another marketplace in the UK? One that’s decidedly British and yet aims to compete with the likes of eBay, Amazon and Play.com? OnBuy certainly thinks so.
We’ve seen so many new marketplaces come and go, way back in the archives of Tamebay when we first wrote about Tazbar, which although they invested heavily in TV advertising ,only lasted a couple of years. Mostly marketplaces suffer from exactly the same problem as eBid, they have no shortage of sellers fed up with selling on eBay and desperate for an alternative, but the marketplace has an acute shortage of buyers.
Buyers are the one thing that eBay, Amazon, and to a more limited extent Rakuten’s Play.com supply buyers in droves. No new marketplace will thrive without a goodly supply of buyers.
So what do OnBuy have to offer? Well firstly become a Centerprise International Group Company, after the Hampshire based leading IT provider invested a “significant amount”. Centerprise International are established IT providers in the UK who deliver large scale IT projects within the Corporate, Education, Government and Reseller sectors. Money is the first thing a new marketplace needs, bucket loads of it to buy awareness and drive traffic.
The second thing a marketplace needs is sellers and seller’s inventory. OnBuy are open for business, but currently only to sellers, their public launch to buyers will be the 1st of November.
Fees are only charge for successful sales at vary from 7.8% to 14.4% including VAT. There’s also a seller subscription based on a rolling monthly fee of £26.40 once the site goes live. There are also no payment processing fees – payments will be made direct through the OnBuy platform.
For professional sellers OnBuy offer account management and tools such as a bulk product upload system to get started. We’ve not seen the tools so honestly can’t tell you how good they are.
Marketplaces with something unique to offer such as NotOnTheHighStreet.com have carved out a niche for themselves by being different, it’s precisely because they’ve carved out a niche for themselves that they’re succeeding. OnBuy aim to be a general marketplace and cracking the mass market is another matter entirely.
So over to you – what do you think? Can well a well funded marketplace make it in Britain, or is even “well funded” far too little? Is it too late with eBay, Amazon and Play.com too well established to be caught?
If you’re interested in becoming an OnBuy seller you can sign up on their website ready for the launch on the 1st of November.