OnBuy Slashes Seller Fees and Passes Savings to Customers in £50 Million New Year’s Day Price Crash Event

Fast-growing UK-based marketplace OnBuy.com is seeing out a year of exceptional 600% growth in 2020 and kickstarting 2021 with a one-day Price Crash event for New Year’s Day.

Don’t Miss

• Do you need a business bank account for your online business? Have a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits.
• Boost your social media engagement with Publer. Learn how you can save time writing engaging content faster with AI. ^[sponsored]
• eBay to compete with sellers now!
• New stamp prices and fee increases are coming from USPS on July 9.
• SMALL BUSINESS WEEK SPECIAL: Three tips for SMB ecommerce success in 2023.

From the stroke of midnight on 1st January 2021, OnBuy will launch its £50 million New Year’s Day Price Crash event. Running for 24 hours only, this will see seller fees slashed across all 17 categories of the marketplace’s product range allowing every single one of the over 30 million products on OnBuy to be discounted. The approach to this sale is similar to its very successful Black Friday sales event the company held earlier this year.

Consumers will be able to get their new year off to a superb start with discounts on the best tech, entertainment, furniture, homeware, toys, beauty and petcare products.

OnBuy is supporting the discounts applied sitewide for the £50 million New Year’s Day Price Crash out of its own pocket. As part of its transparent and ethical approach, OnBuy is slashing seller fees so that the independent retailers who sell on the site don’t feel burdened by having price cuts imposed upon them by the marketplace.

“The New Year is a time for us all to make bold plans for the year ahead, however many businesses are feeling uncertain due to the ongoing global health crisis. Cutting our fees means that sellers stand to enjoy a risk-free way of seeing an early boost to their sales for 2021, with the full support of our marketplace.”

“Meanwhile, consumers looking to take up new hobbies, fulfil new ambitions, or just treat themselves following a heavy 2020 will find a vast range of discounted products to choose from. Better yet, they can support independent businesses of all shapes and sizes while they shop, with OnBuy covering the cost of the discounts.”

Cas Paton, founder and CEO of OnBuy

2020 Was Landmark Year for OnBuy

2020 was a landmark year for OnBuy, as it achieved its third year of consecutive 600% growth and recorded a sales increase from a run rate of £24 million to over £170 million in one year (from 2019 to 2020).

“Kicking off the New Year with a £50 million Price Crash is a fantastic way to thank our sellers and our customers for making 2020 such a growth year for us all.”

“That said, a new year doesn’t mean any less commitment from us when it comes to supporting independent businesses and offering customers a more ethical eCommerce alternative. We have huge plans for 2021, but in the meantime, we look forward to helping our sellers get a jumpstart in January with this special one-day event.”

Cas Paton, founder and CEO of OnBuy

OnBuy’s latest Price Crash event comes as the business embarks on a definitive growth plan for 2021. This will include opening an office in Manchester in the spring, as well as internationalising the platform into over 140 countries by year-end 2023.