OnBuy reports sales boom as it aims to break online monopoly
UK-based online marketplace, OnBuy, has reported a record breaking week with almost 1.5 million users browsing its site.
This resulted in nearly £2.75 million in sales between 1st-8th November. OnBuy has also onboarded 500 retailers in the past month, sparking a 10% increase to its seller base.
The venture recently turned four years old and plans to roll-out to over 140 additional countries during the next three years.
Cas Paton, Founder and CEO, OnBuy, says: “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, we don’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.”
He adds: “I started OnBuy with the vision that one day soon, the e-commerce monopoly would be broken, allowing for a fairer and more level playing field for all online sellers, and last week’s data demonstrates that we’re getting there.”