E-commerce giant OnBuy is celebrating incredible Black Friday results after a radical decision was taken to reduce prices on each of the 17 million products available on the site. OnBuy, the online marketplace sector disruptor and competitor to Amazon, saw huge sales across every department but particularly in tech, landing a transaction every 10 seconds. With over £1M in sales made on Black Friday alone, the total trading results for November came in five times stronger than last year
Cas Paton, founder and MD of OnBuy, said: “Black Friday was a real success for us and our sellers, with unprecedented figures. Last week’s sales were up 900% on the same week last year while November’s sales were up five times overall, and we know it was because of our bold positioning on Black Friday. We took a 5% hit on our sales fees across all products which gave our sellers the financial freedom to add further discounts and offer our buyers the best possible deals. We made a sale every 10 seconds on average in the 24-hour sale period and at peak times it was almost a sale every second!”
OnBuy, one of the fastest-growing online marketplaces in the world, offered more than £25M in sales across the website on Black Friday. Specialising in market-leading cosmetics, electricals, fashion and furniture, OnBuy stands apart in the competitive e-commerce sector by not owning or selling its own stock, but instead focusing solely on connecting buyers with thousands of professional business sellers.
Cas Paton, finalist in this year’s NatWest Great British Entrepreneur Awards, added: “We saw more than £1M in sales in a single day, confirming a real growth and increased trust in our company. We pride ourselves in not competing with our sellers like brands such as Amazon do, and our Black Friday positioning really showcased this commitment and certainly paid off for the sellers and the buyers too. The numbers may be smaller than, say, Amazon’s sales figures for that day, but unlike other marketplaces we can proudly say that all these sales are for our sellers – not us.”
OnBuy was launched in 2016 to create a fairer, more transparent marketplace that puts buyers and sellers first. For more information about OnBuy, visit www.onbuy.com