OnBuy.com aims to be UK’s answer to Amazon.com, offering zero selling fees and working on a subscription model. As of yesterday, the site has begun to upload products in categories including electronics, toys, clothing, jewellery and furniture, with confirmed sellers include World of Books Ltd, the fourth largest Amazon seller in Europe and the largest Amazon bookseller in the UK.
According to a statement issued by the company, OnBuy is growing every week and is expected to grow dramatically in the next three months. More than 50,000 products are currently live. Over the coming weeks that figure will rise significantly as some 2.4 million products are now in the database and ready to go online.
Sellers were first invited to sign up on November 7 to register for OnBuy, which is on track to get thousands of sellers and millions of products on board before launching a consumer campaign next year.
“Sellers are telling us that they are fed up with paying the high seller fees on Amazon and eBay and welcome a British alternative that puts sellers first,” Cas Paton, MD of OnBuy, said. “We are giving them a credible alternative, working with our sellers and not against them or in competition with them, and helping them to grow.”
Sellers pay a monthly subscription fee of £49 plus value added tax. The subscription model, according to the company, means that for the vast majority of sellers, the cost-per-sale is lower than those charged by Amazon and eBay, allowing vendors to sell at lower prices and pass savings on to customers. And unlike retailers like Asos, OnBuy is solely a trading platform, and does not hold any inventory. That way, it will never offer products in competition with its own sellers.
According to Paton, OnBuy’s research reveals that customers and sellers don’t like some aspects of Amazon but so far they feel there has not been a credible alternative.”Now there is one,” he added, listing benefits of sellers signing up early on, including getting early exposure and gaining market share.
“The benefits are not just for sellers and customers, but for the economy as a whole. As a British company, OnBuy pays its taxes in the UK and is passionate about supporting the British economy. We’re very excited to be at this crucial stage in the development of a marketplace which we believe will shake up online shopping and offer both sellers and shoppers the deals they deserve.”