OnBuy Vows To Save British Businesses After New Lockdown Measures Announced
Other eCommerce platforms have strangled opportunities for independent traders, but booming online marketplace OnBuy offers British businesses a lifeline during lockdown
In the wake of the new lockdown restrictions announced by Boris Johnson on Saturday, the landscape for British retailers looks bleaker than ever. For many businesses, a good fourth quarter determines whether they’ll survive another year - and after an already challenging year, industry leaders have warned this second lockdown could be 'ruinous' for British businesses.
One company has vowed to do their bit to save as many British businesses from bankruptcy as possible. OnBuy.com, the world's fastest-growing marketplace, provided a lifeline for businesses throughout the first lockdown by refusing to place restrictions on the products retailers could sell - while other marketplaces crippled cash flow for thousands of businesses by restricting sales of 'non-essential' product ranges - and it has pledged to do the same again through the second lockdown.
Along with providing businesses of all sizes with an outlet for success in the biggest quarter of the year and beyond, OnBuy has invested £5 million into a robust marketing strategy for November and December to expand its market share and further increase sales for its sellers.
OnBuy's sales leapt substantially from April to October, bolstering the company's GMV to 700 per cent and resulting in the third consecutive year of over 600 per cent growth. As the site was founded with a policy of never competing against its own sellers by holding its own retail stock, this success translates directly to huge boosts in sales and profits for independent sellers.
OnBuy makes it easy for retailers to sign up and start selling, and the marketplace has shaken hands with strategic partners to make it even easier for online sellers to go from strength to strength. These include eCommerce solutions provider Volo, which helped one seller make £50,000 in sales from a standing start, establishing a strong foundation from which to benefit from incremental revenue gains as OnBuy continues to rapidly grow.
Meanwhile, online book wholesaler Paperback Shop witnessed an enormous 507 per cent increase in sales on OnBuy between June and September compared to the same period in 2019. Georgina Pursch, business development manager at Paperback Shop, commented:
"OnBuy has proven to be a vital additional sales channel for us during the height of the pandemic. It has helped us to ensure that our products appeared in search engine results, which was ideal when so many buyers moved online to seek out products.
"We have been astounded by the increase in sales experienced during what has been such a difficult period for so many retailers. Using OnBuy as a sales channel is perfect for us due to its nature of not competing with sellers by retailing its own products, alongside the one-to-one account management provided, as well as the great visibility gained in internet searches. All of this has supported us with our goals."
Georgina Pursch, Business Development Manager, Paperback Shop
Pertemba, a firm bringing UK brands and distributors to the biggest international marketplaces, also experienced a surge in online sales.
"Our OnBuy annual 2019 sales compared to 2020 year-to-date indicates a 292 per cent sales uplift on last year.
"OnBuy has proved excellent in supporting us with sales during the pandemic. This online marketplace is our partner, not our competitor, providing us with another route to market. Selling on OnBuy has been, and is proving to be, a great success."
Ravi Karia, Managing Director, Pertemba
VidaXL, an international online retailer, experienced more than an 80 per cent leap in sales during just one month alone, from April to May, and sales continue to outpace previous years.
"The promotional tools on OnBuy really helped us to increase sales. The company always keep in close contact with us and if we ever need any assistance the team are always very timely in their responses."
Coral Han, VidaXL
OnBuy's founder and CEO, Cas Paton, commented: "At the core of our business is the belief in supporting businesses. We're a true marketplace, not a retailer, so our business model is designed to champion our sellers and not to compete against them.
"We're incredibly proud to be able to continue providing a lifeline for online retailers, and I'm delighted that the retailers we work with have felt - and will continue to feel - the benefit of OnBuy's support and growth through one of the hardest moments in recent history."