OnBuy is set to launch the most audacious sales announcement in its company history with over £25 million of savings on offer for Black Friday on 29th November. One of the fastest-growing online marketplaces in the world, OnBuy will host a website-wide price drop with every product reduced by up to 80%, covering more than 17 million products. The cost of this year’s bold campaign will not only be taken by sellers – OnBuy is discounting its sales fees by up to 100%, giving sellers the ability to add their best Black Friday deals for buyers.
Cas Paton, founder and MD of the popular online marketplace and finalist in this year’s NatWest Great British Entrepreneur Awards, said: “We’ve dropped over £25m in prices straight off our fees, with 100% off our fees in electronics, computing and white goods, and over 50% off our fees in every other category on OnBuy. We did this so that our sellers can have a prosperous Black Friday and our buyers can get some amazing discounts!
We believe that this is another chance to demonstrate how to do business ethically and transparently. We’ve decided as a company that the Black Friday promotion should not just cost our sellers, so we’re joining in on the amazing discounts to ensure our sellers’ pricing is as strong as possible.
Our selling fees come straight off the product price on OnBuy, so every product will have a discount. Our fee discount alone equates to over £25m – and that’s without the sellers’ offers being counted! Even more discounts will be offered by our sellers on many popular branded products. Unlike Amazon, we won’t be competing with our own sellers on Black Friday, or any other day of the year for that matter.
For us, Black Friday is all about giving buyers fantastic opportunities that don’t come at a cost to the seller. Many sellers have already submitted great offers for Friday, so with our £25m price crash we have some of the best deals in the UK – we’re planning to make this Black Friday a record breaker!”
Trends in previous Black Fridays have seen shoppers look to land a bargain in smart accessories, electricals, clothing and beauty products, with reports showing the average consumer spends £437 on this day. With market-leading cosmetics, electricals, fashion and furniture, the savings on OnBuy this Black Friday will be over £25 million across the site. Unlike Amazon and other online marketplaces, OnBuy does not own or sell its own stock, but instead focuses solely on connecting buyers with thousands of professional sellers to deliver a user-friendly, transparent and secure shopping experience.
Cas Paton added: “We know that our competitors will look to create urgency in their customers by changing the length of their Black Friday discounts. For us it’s very clear: the sale will be 24 hours only. So, to land a great bargain that sees no added costs to the independent business sellers we support, we advise online shoppers to get to OnBuy.com early doors on Black Friday morning.”