Online marketplace, OnBuy.com, is officially the largest UK-owned marketplace and has ambitions to achieve £400m in annual sales by 2021, 5 per cent of Amazon’s UK market share.
According to the latest figures by internet analysts, Alexa and Similar Web, OnBuy.com is number one in UK traffic rankings for UK-owned marketplaces, outranking competitors Fruugo and Flubit.
“OnBuy.com has become the top-ranking UK marketplace, a huge achievement especially when taking into consideration that in January 2018 we secured only £2.7m in funding, which is in stark comparison to Fruugo’s $40m.”
Cas Paton, entrepreneur and founder of OnBuy.com
OnBuy.com is working closely with PayPal to launch in over 100 countries in the next 12 months, which is significantly more than Amazon, who currently has 16 sites dedicated to 16 countries.
Through this aggressive expansion plan, the company is targeting 5 per cent of Amazon’s market share, which equates to £400m. This would make OnBuy.com the first UK company to achieve such expansion in this space.
After recently sparking a partnership with PayPal and announcing its integration with ChannelAdvisor, the largest e-commerce multi-channel management system, OnBuy.com continues to achieve milestones that are in line with its ambitions.
The company’s marked success is due to its fair and transparent marketplace, keeping fees reasonable for sellers, not competing with sellers and continuously improving the OnBuy.com experience.
In turn, this helps make a better marketplace for shoppers, continually reducing prices and introducing more categories and deals and enabling a consistent delivery on choice.
What are your thoughts on OnBuy.com expansion plans? Please use the comments section below or head over to our Facebook Group for Small Business Sellers and interact with other small business owners.