Since they launched in November 2016, there has been massive OnBuy growth, record results in 2019 and OnBuy entered 2020 with over 21m products, over 3k sellers and millions of buyers. In 2019, they saw 5x growth compared to 2018, saw over £1,000,000 in orders for their sellers on Black Friday and had their biggest Christmas yet, so it’s safe to say that 2019 was a fantastic year for OnBuy.
But OnBuy still have plenty of room to grow and they’ve revealed some of their plans for 2020 and have already revealed that they are in their strongest position ever, with a venture capital firm committed to investing in the development of OnBuy. This partnership will enable the marketplace to double their workforce, focus on major marketing activity and optimise our business from top to bottom, including:
- Expanding the team and widening experience in key areas
- Driving huge marketing opportunities
- Increasing development of new solutions, integrations and features
- Major investment in brand awareness
- Introducing stronger social engagement and visibility
Want to work for OnBuy?
If you are a marketplace specialist and looking for a new opportunity, it might be worth having a conversation with OnBuy if you’d like to bring your expertise to the party.
OnBuy growth opportunities for sellers
In 2020, OnBuy are forecasting another 5x growth and targeting a sales increase of over £100m this year (and over 100x growth in four years!). That said, even with 21m products on OnBuy they know that they still don’t have it all covered! There are huge pricing opportunities where OnBuy isn’t competitive with other online marketplaces and there are still gaps in their product range. They know that these gaps are narrowing, but this also makes it a great time for retailers to join and benefit from OnBuy growth.
We’ve heard complaints that some products on OnBuy aren’t competitively priced but this is really an opportunity for sellers to take advantage. All marketplaces suffer from gaps in inventory or uncompetitive offers and they all take steps to fill these inventory gaps but what they’d rather have is sellers with great offers that they can market to consumers. If you see competitors on OnBuy with offers you know you could beat, this is the opportunity for you to step in and start winning.
“Gaps in our catalogue with missing products and uncompetitive pricing are far from a negative for online retailers: this is a great opportunity to make the most of the reduced competition. We’re attracting hundreds of retailers per month to OnBuy and these categories are filling up quickly, so the opportunity to benefit is immediate and we invite retailers to start selling on OnBuy as soon as possible.”
2020 to see OnBuy growth overseas
With an increasing visitor base from overseas in huge markets (including the USA, Australia, France, UAE, Canada, Ireland, Sweden, Denmark, Germany and more), OnBuy is going to launch 22 new online trading locations by year-end 2020 – and a combined 140 new locations by the end of 2023!
This will create a much better shopping experience for customers in these countries and open OnBuy up to a range of new local marketing opportunities, allowing for rapid local expansion. All of OnBuy sellers will have access to all of OnBuy’s markets and they aim to make the process of selling internationally very simple.
OnBuy will also offer optional auto-translation and auto-currency conversion, but give sellers control in overriding the settings for each country because they want OnBuy to work for you as a viable and efficient online international selling channel.
OnBuy Seller Proposition
OnBuy growth is looking strong for 2020, with plenty of developments and investment to come. Their proposition for sellers includes:
Competitive Selling Fees
Ranging between 5-9%, our fees mean you can price lower and attract more buyers without eating into your margins.
Get Paid Immediately
You’re paid immediately by PayPal. All payments are processed through PayPal, so not only do we never touch your money, but you’re paid immediately on item dispatch.
Selling with us is risk-free! If you make less than £500 in sales in a month, you’ll get our Sales Guarantee, which means we’ll waive the next month’s Standard subscription fee.
PayPal Seller Protection
You can sell with complete peace of mind knowing that eligible orders are covered by the PayPal Seller Protection scheme.
We Don’t Compete With Sellers
And we never will! We’re a marketplace, not a retailer, so we focus our efforts on making sales for our sellers.
Dedicated UK-Based Support Team
We have a dedicated UK-based team ready to help you sign up, onboard you and ensure you’re making the most of OnBuy.
If you’d like to start selling on OnBuy you can sign up here.