RetailX Growth 2000 marketplace OnBuy has reached its fifth birthday with a 224% annual growth in revenue. The marketplace which was founded by British entrepreneur Cas Paton in 2016, is now the UK’s most trusted marketplace with an enviable 4.7 star rating on Trustpilot.
During the past year, OnBuy has seen an 80% increase in sellers on the marketplace, with over 10,000 selling through the site – ranging from household names like; Lego and Fitbit alongside British success stories such as HugglePets, a pet store in Wolverhampton that started selling on the platform during the lockdowns.
This growth is also reflected in a 71% increase in live product listings, with more than 36 million products available to buy on the website. The period has also seen an increase in average order value, to just under £50 (£49.27) demonstrating an increased customer value, which coupled with just under 2 million (1,982,590) new customers on the site this year demonstrates growth in both volume of users and the purchases that they are choosing to make.
These growth numbers come after an explosive 18 months for online retailers, in the light of multiple lockdowns, but whilst other e-commerce sites have seen a dip year on year sales after shoppers returned to high streets post lockdowns, OnBuy has continued to go from strength to strength.
With peak trading ahead of the busy festive period approaching OnBuy is working closely with their trusted delivery partners, to forward-plan, so that this growth continues.
Mark Lister, CCO of OnBuy comments: “This year has really seen OnBuy grow its network of retailers and brands to an impressive level, with quality and trust remaining at the heart of the business. We can attribute a lot of this growth to our commitment to providing a fairer ecosystem for everyone who uses our platform – whether sellers or buyers – as unlike some other marketplaces, we don’t sell our own products and compete against our sellers.”
