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OnBuy growth hits £12m GMV with 3,000 active sellers

By Chris Dawson August 23, 2019 - 3:33 pm

OnBuy growth has been impressive, fast and is now starting to accelerate exponentially from their modest beginnings reporting hitting £12m GMV run rate with expectations of growing this to £150m GMV over the next three years by 2022.

Latest OnBuy growth figures released by the marketplace reveal 10.5 times revenue growth between May 2018 and May 2019 with year-to-date sales 13 times higher in April 2019.

All metrics are on the rise with a 600% OnBuy growth in users year-on-year in April 2019, 16m products listed on the site from 3,000 active sellers. OnBuy are now reaching 1m+ monthly users with an average of 24 seller signups to the platform each day.

Naturally, for any marketplace to be taken seriously they have to make it easy to get paid, list and ship, which is why OnBuy have partnered with industry stalwarts including PayPal, ChannelAdvisor, Royal Mail Click & Drop and more. Future plans include integration with external partners to deliver innovative services, expanding the geographical reach of the platform, and increasing sales for sellers using on and offline marketing.

OnBuy were founded on the premise that they do not sell their own products or compete with sellers and they say that they are pursuing innovative data and SEO techniques to boost success for the businesses which use the platform. OnBuy also has plans to build profiles on the brands featured on the site and improve their catalogue system for an enhanced user experience, as well as launch a mobile app to expand the platform’s reach across mobile shoppers.

If you’ve not yet tried OnBuy as a selling platform, you can sign up here.

“Since launching in 2016, OnBuy has seen phenomenal growth. We are changing how the world looks at commerce.
 
Over the next three years, we expect our strategic growth plans to help us become a global top 10 marketplace. With our current growth rate at 9x per annum, we fully expect OnBuy to exceed £150m GMV in the next three years.
 
Our principles of being fair with sellers, so that sellers can offer more for buyers, have proven successful. We have found a gap in the market for online retailers by offering a fair and professional platform that does not compete with its sellers.
 
Alongside a strategic marketing plan to expand reach and drive revenue, we want to harness and explore new growth opportunities. Within our plans sits the launch of an OnBuy Fulfilment Network, allowing partner companies to connect with us to create the most powerful fulfilment opportunity in the UK.
 
Operating the business more efficiently than our competitors has enabled us to grow so significantly with previous funding and to forecast profit with such modest investment this time around. We are so excited to progress OnBuy to the next level and are actively looking for investors to join us on this journey.”

– Cas Paton, founder and MD, OnBuy.com

The next stage in the OnBuy journey is to raise a further £500,000 funding round.

  • Jay
    4 weeks ago

    12million… not bad. Spread across 3000 sellers isn’t enough to pay the bills however.

    Albeit it won’t be spread equally, I’m sure a handful of sellers are cleaning up (literally) and good effort to them if they are, well done.

    Although, as we know there’s little profit in the type of products that will pretty much sell themselves anywhere.

    But for the most of us, ie those who don’t typically sell what Joe Bloggs is always looking for, sales are not so great despite a lot of effort invested.

    Listing and stock management needs to be improved, especially those of us who manage everything using CSV files.

    Considering OnBuy is modelled on Amazon quite considerably, I’d like to see the introduction of a *price and quantity update via CSV and an *inventory loader file that can take an Amazon ASIN for product matching to the catalogue.

  • 4 weeks ago

    Been on OnBuy for 6 months now with a lot a different various products with altogether about 400 different variations and altogether we have sold
    wait for it
    wait for it

    NOTHING!!!!!!!

    • Ryan
      4 weeks ago

      Tony I don’t know what you sell but we joined in April 18 and it started slow, I had little faith. But we are doing 5-6k a month now and it’s growing, so we are the opposite.

      It’s not Amazon volumes but it’s certainly enough to not want to lose from our P&L, already, and I can only see things getting better because they keep surprising me.

      I know they are at the start of a journey but we get NOTHING from Fruugo, and it took months to get live, we got NOTHING From flubit, 75% from Amazon and the rest EBay… But eBay is 58% down in 2019 for us! We have to sponsor everything to get sales. Amazons ridiculous brand registry has had us suspended 3 times in 12 months for “violations” which means sellers stealing listings into the registry and claiming we are in violation, and we’ve spent 5k on appealing and consultancy just to stay on Amazon! Amazon advertising has become 25% of our total Amazon sales… And we’ve lost 16 lines to Amazon themselves this year, honestly it’s a monopoly.

      I feel like this e-commerce world has had its day sometimes, if I’m honest.

      OnBuy is not the enemy in our book and we are looking forward to the potential. They actually talk to us, and they dont have it perfect yet, but we are not discouraged. Have you tried to do anything in Fruugo… We can’t do we leave it to them which takes an age. Tedious is an understatement.

      Maybe I just hope they do it, so I’m not dealing with faceless companies that literally don’t care about my small business, and couldn’t care less if they suspend me without justification and hold my funds while I have to pay staff and appeal hoping I get my money… Endless cat and mouse. I feel like I’m on an episode of Tom and Jerry every day!!!

      Onbuy, please nail it.

      Ryan

  • Andy R
    3 weeks ago

    Onbuy still haven’t responded to the suggestion they properly categorize collectables on their site.

    It’s still a mess, with no specialists category for postcards, let alone the subcategories that postcard collectors expect.

    Is it really such a big deal to arrange this? Amazon ignore collectables and Ebay are hogging the market and hammering sellers on fees. Open goal for you, Onbuy.

    Their growth is from a very low base, so to project going from £12m to £150m in three years means throwing a six every time.

    We have over 150,000 listings spread over two accounts and would have been happy to put them on Onbuy, but it’s just not going to happen. They’re not listening.

    Because they haven’t listened about the collectables, as they would say on Dragon’s Den – I’m out.

  • Lorna
    3 weeks ago

    Thought id give shopping a go on there to try it out (even though the product I wanted was cheaper and a way faster delivery on Amazon – by the same seller I might add)
    Checkout was clunky, paypal powered but made to use a guest paypal checkout to use a visa which feels confusing and was made to create an onbuy account – couldnt see a way to do a guest checkout.

    I can see why sellers arent getting the sales. This one would have 100% been on Amazon instead if i were a normal customer.

  • Mac
    3 weeks ago

    We have several dozen lines listed on OnBuy – 3 months on still no sales there.
    The same lines on ebay have sold probably 80 plus a month orders.

    We could list another 800 lines on the site but waiting to see if those items sell first before spending the time.
    Spare capacity to list on the chance of selling is early in the year for us. This time of year we focus on tripling ebay listings – they at least are likely to get a sale.

  • Toby
    3 weeks ago

    Our sales started slow and we only listed a small amount of our inventory on there. However sales have been steadily climbing, and rather pelasingly it has been our bigger value items that have gone best so nice margins. we are now in the process of increasing our range on there and see where it goes. We have been actively promoting the site with all our ebay orders as if people don’t know about it… they wont go there!
    A mobile app etc is a must and this must be a top priority.
    I think it will continue to do well, but yes to start with it will be the run of the mill stuff that gains the traction until the site is better know. If you have a ebay account etc, then get those customers over to your onbuy shop by letting them know about it!

  • Pablo
    3 weeks ago

    There seems to be a lot of bootleg t-shirt sellers on OnBuy, selling unofficial merch for music, games and films etc…

    https://www.onbuy.com/gb/t-shirts/arctic-monkeys-logo-adult-t-shirt~c3457~p10548801/

    https://www.onbuy.com/gb/shop/shadowwear/

    To be fair, there are still a lot of sellers like this on the big two marketplaces, but it has become more difficult for them. OnBuy still need to be careful though, as they get bigger the unlicensed products these bootleggers sell my begin to cause them headaches.

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