We speak to OnBuy CEO Cas Paton in the week that they become the first marketplace to launch a cashback scheme on all purchases.
Cas discusses how the plan to offer a compelling differentiator to create loyal repeat customers has been a long time in the planning as they built momentum, until the timing was right to disrupt the marketplace model with cashback on everything. And the cashback is funded by the marketplace, not the sellers.
Cashback sites have become increasingly popular, especially in these times of high inflation and a cost of living crisis, but too often, Cas says, they come with strings attached – you have to remember to log in, sometimes offers or certain product sets are excluded. On OnBuy there’s nothing to remember expect to log in and buy regularly and you’ll find cashback you can either spend, or withdraw to your bank account.
Cas also revealed that while the marketplace has seen exponential growth, there are still many times a buyer is unable to find the product they are searching for…. and he expects this to increase as buyers with cashback look for ever more products to purchase on the site. If you aren’t yet selling on OnBuy, or if you tested the marketplace a few years ago and didn’t see instant success, this is the reason you should consider selling on OnBuy today.
Every buyer that purchases on OnBuy from this week will have up to 7.5% cashback in their account and they’re going to want to spend it. It’s time to make sure your inventory is listed and your prices are up to date to make your offers attractive.
In this video you will find:
- 00:00 What makes OnBuy different to other marketplaces?
- 04:07 Cas Paton introduces OnBuy’s new cashback scheme
- 09:27 There are a lot of cashback sites – what makes OnBuy better?
- 12:56 How will cashback drive loyalty?
- 17:53 Why this matters for sellers
- 20:35 Compelling reason to become an OnBuy Seller