The online marketplace OnBuy has reported an ‘all time record breaking week’, reaching nearly 1.5 million users actively browsing the site, resulting in nearly £2.75 million in sales between November 1st and November 8th.
Four years on since it first launched to the ecommerce space, OnBuy has caught the attention of the nation’s media having made strides in its mission to offer a viable alternative to online giants like Amazon and eBay. OnBuy is about to turn its attention to a global audience as it rolls-out its platform to over 140 additional countries in the next three years.
As the UK entered the second nationwide lockdown, the platform saw ‘a dramatic rise in users’ as shoppers looked to prepare for a month at home with no physical access to non-essential retail. Compared to the same period last year, users on the site increased by over 600 per cent, while sales revenue grew by 837 per cent.
Cas Paton, founder and CEO of OnBuy, said: “Last week was a major record-breaking week for OnBuy and we aren’t seeing any signs of this incredible growth slowing.
“We’re catering for an audience that is panicking about what Christmas might look like this year and stocking up early, as well as one that is more switched on to shopping ethically. Unlike other online marketplaces, OnBuy doesn’t compete with its sellers, so the sales boom we’ve seen last week is translating directly into profits for the small and medium sized businesses which sell with us.”
Paton started OnBuy back in 2016 with the vision of breaking the ecommerce monopoly and ‘allowing for a fairer and more level playing field for all online sellers.’
“Last week’s data demonstrates that we are getting there,” said Paton.
OnBuy’s record-breaking news comes only a matter of weeks before the popular Black Friday sales hit the retail sector.
Cas predicts: “Given that stores will still be shut over this year’s Black Friday and Cyber Monday weekend, I am expecting that this year will be immense for online retailers and that a lot of small businesses will now be scrambling to get their products online before this all-important weekend.
“Not only did we see a huge uplift in sales last week, but we also onboarded a record number of 500 retailers in the past month, resulting in a 10 per cent increase to our seller base.”
These records come as OnBuy prepares to launch into 42 countries next month as part of its plan to become the world’s first truly global marketplace, operating in over 140 countries by 2023.