OnBuy reports soaring sales with online transactions up 608 per cent year-to-date
Online marketplace and Britain's answer to Amazon, OnBuy, is celebrating a dramatic rise in sales, with year-to-date transactions up 608 per cent on 2017. The fast-growing marketplace has also reported that it has doubled its staff this year to support further expansion.
Earlier this month, OnBuy announced its pioneering partnership with global online payment specialists, PayPal, which it reports has fuelled the exponential growth and resulted in increased sales, as well as newly-listed products. More than 8 million products are currently listed on the site with new products listed by sellers daily. The move to PayPal means that OnBuy's buyers and sellers benefit from a robust level of security and protection.
Cas Paton, entrepreneur and founder of OnBuy, said: "It's been a year of massive growth and development for OnBuy. We've invested millions into the marketplace and have huge plans for the future including branching out to the rest of Europe next year. To support this, we're rapidly expanding our team to support our aim of having 12 million products listed online by the end of the year.”
Cas added: "Our partnership with PayPal as well as HotUKDeals, has not only improved the transaction process for our sellers, but it's aided the exponential growth we've seen in the last month. We are the first UK product marketplace to be able to offer PayPal directly supported between PayPal and the seller, since eBay, which we have no doubt will help us continue to grow and hit next year's targets, and more.”
"We're rapidly expanding our team to support our aim of having 12 million products listed online by the end of the year."
Cas Paton, Managing Director, OnBuy
The marketplace has introduced an innovative Sales Guarantee for its standard seller account holders, giving them the opportunity to have the following month's subscription fee waivered if they make less than £500 in sales in a month. OnBuy is proud to be the first marketplace to offer this in the UK.
The best offers are highlighted on its 'OnBuy Deals' platform, providing shoppers access to unmissable savings. Due to unwavering customer confidence, OnBuy is experiencing increased seller sign-ups. Website visits continue to grow exponentially, with the company reporting that from October 16 to October 22 2017, to the same period in 2018, figures are up 1178 per cent, based on comparable users.
Cas added: "Price competitiveness has been key to our growth; by offering sellers the lowest commission rates around, they can pass these savings on to the customers. We also try to make the lives of our sellers as easy as possible and that's why we use Channel Advisor and Linnworks to ensure integration is easy for sellers. We're also integrated with Storefeeder, and have other channels coming soon.
"We're all very excited for the future of OnBuy – especially as we are soon to be featured on the Department for International Trade website, alongside competitor platforms. This achievement is the result of our overseas sales, overall growth and our plans to branch out to the rest of Europe in 2019.”
OnBuy was established in 2016 and has recently moved offices in Poole, Dorset, to accommodate for its growing team.