The UK online marketplace hits the major milestone and readies national TV campaign
British online marketplace OnBuy has reached a major milestone in its bid to take on Amazon in the UK, as it lists its 200,000th product and begins the countdown to a national TV consumer launch.
The marketplace launched to sellers in November 2016 with the aim of offering UK online traders a better alternative to Amazon and eBay, where high commission fees can drive down profit. In just five months OnBuy has seen huge demand for its offering, which includes the lowest commission fees available for any major online marketplace in the UK.
OnBuy now has thousands of products listed across a cast range of categories including toys such as LEGO, and Star Wars and Transformers license lines, books, DVDs, clothing, furniture, and electricals.
OnBuy Managing Director, Cas Paton: "We believe in our model, which is that straightforward, low-cost options for sellers"
Now OnBuy has just four weeks to go until the launch of its nationwide TV advertising campaign on ITV1 and ITV2, with a rollout to consumers.
The consumer launch comes as OnBuy continues to work closely with its sellers – existing and prospective – on its cost-effective packages. After listening to feedback from sellers, OnBuy has developed packages designed to give them the best value depending on their requirements.
Sellers can switch between two account types at any time. OnBuy Seller, which is ideal for smaller traders, allows sellers pay a subscription of £19 a month and a selling fee of just 6 per cent on products sold – compared to an average of 10-15 per cent from major competitors. Sellers of many electronics items will pay just 3 per cent commission.
OnBuy Partner is a premium offering suited for traders with large numbers of products to sell. Again, OnBuy charges these sellers 6 per cent commission on sales –significantly lower than other major online marketplaces. For an £89 monthly subscription fee they receive all the benefits of the OnBuy seller category plus access to a dedicated account manager, prominent placement of products and on-site advertisements. Sellers of many electronics items will pay just 3% commission.
Cas Paton, Managing Director at OnBuy, said: “OnBuy’s driving force is to treat sellers fairly, giving them an alternative to the existing platforms… We believe in our model, which is that straightforward, low-cost options for sellers translate into better prices for consumers. It’s a concept that sellers have bought into enthusiastically, and we now have hundreds of sellers signed up offering hundreds of thousands of products at highly competitive prices.
“After our initial launch to sellers, we are now entering the next phase of the journey to becoming a credible alternative to Amazon and eBay. As part of that process we have listened to the feedback from sellers and, in close consultation with them, we have developed these seller packages to match their needs.
“We are Britain’s best value for money online marketplace and the savings our sellers are making is translating to some of the cheapest prices around for consumers.
OnBuy has launched a recruitment drive at its Bournemouth and Manchester offices to handle sellers’ accounts and product lines as the platform grows, and is seeing daily leaps in website traffic as awareness grows.
As part of the growth, OnBuy is developing integration with Linnworks, a powerful e-commerce order management technology that helps online retailers automate key processes, reduce costs and grow their business.
Cas added: “The feedback we’re getting from sellers is that we are precisely the kind of marketplaces they have been looking for as they become jaded with the high fees and the practices of other platforms.
“We really are about putting sellers and customers first. Some were sceptical when we launched but our rapid growth is demonstrating that there is a real need for this product and huge opportunities ahead. We are very excited about the future of OnBuy.”