Marketplacer, a global technology platform that enables brands, retailers, suppliers, communities, and innovators to build and grow successful online marketplaces at scale, has announced that one of the most well-known brands in Norway – FINN – is experiencing record growth on its new Marketplacer-powered ecommerce site for used smartphones and accessories, FINN Nybrukt.
Marketplacer at ChannelX World
At ChannelX World on the 11th of October, Luke Hilton, Global VP of Solution Engineering at Marketplacer, will be exploring the challenges faced by marketplaces when scaling from platform technology upgrades to seller onboarding verification and counterfeit products to differentiation. Discover the strategies and best practices for implementing robust processes, to create a trustworthy environment for users which leads to increased customer confidence and ultimately marketplace success.
Marketplacer are sponsoring the Marketplaces, Strategy & Operations track at ChannelX World, and you can find out more by visiting their stand at the conference.
Based in Oslo, Norway, FINN is the country’s largest online marketplace, allowing consumers to purchase anything from cars to houses to general merchandise. In February 2023, the company expanded these offerings with the launch of FINN Nybrukt, a new ecommerce marketplace for used smartphones and accessories, where buyers can choose from a variety of pre-owned, refurbished phones, and sellers can help their used phones find a second “life” and avoid the landfill, which is a key mission for FINN.
Essentially functioning as a boot-strapping startup within the larger Schibstead family of brands, the team at FINN considered building an ecommerce platform on its own. Instead, the team decided that its business objectives would be better served by choosing a technology partner that it could collaborate with in order to meet its business objectives. FINN chose Marketplacer because the company’s fast, flexible and easily-scalable marketplace platform technology aligned perfectly with FINN’s accelerated time-to-market target.
FINN was already a household name in Norway, but what the team was looking to do with FINN Nybrukt was a new adventure. We have a deep understanding of the different needs and approaches start-ups have compared to their more established corporate counterparts. FINN knows how to sell almost anything and we know how to create the infrastructure to make it happen and how to make it happen fast.– Jason Wyatt, CEO and Co-Founder, Marketplacer
Ultimately, FINN was able to launch its new Marketplacer-powered ecommerce platform in less than six months and the site continues to experience a tremendous uptick in interest over the first few months of operations. In fact, while July is traditionally a slow month for sales in Norway, FINN Nybrukt saw an all-time high in sales.
We are always looking for new business models for marketplaces and the demand for refurbished electronics is hot. Since so many people have used electronics, giving them a simple way to re-circulate them not only makes economic sense, but also helps the environment by reducing e-waste. The partnership also enables us to scale and expand into other countries across the region which was a key consideration for us.– Emilie Høstmark, team lead for refurbished electronics at FINN/Schibsted’s Nordic Marketplaces division
Following the success of its refurbished smartphones marketplace, FINN plans to expand into additional categories, including tablets, smartwatches and AirPods, with the potential to further expand into gaming equipment and more. The company is also looking to expand geographically, leveraging its sister marketplaces across the Nordic region.