NEWS

OnBuy posts 224% annual revenue growth

Published on: 18th November 2021

The online marketplace has seen an 80% increase in sellers this year, along with a 71% rise in live product listings, including the recent addition of Lego.

OnBuy has recorded a 224% rise in annual revenue, driven by an 80% increase in sellers on the online marketplace in the last year.

Retail Gazette also reports that the online marketplace saw a 71% rise in live product listings with more than 36m products now available to buy on the site. These include Lego, which OnBuy added to the platform earlier this month, offering an extensive range of Lego products in preparation for the Christmas rush.

This year, OnBuy has welcomed just under 2m new customers to the site and the average order has also increased to just under £50.

OnBuy chief commercial officer Mark Lister commented: “This year has really seen OnBuy grow its network of retailers and brands to an impressive level, with quality and trust remaining at the heart of the business.

“We can attribute a lot of this growth to our commitment to providing a fairer ecosystem for everyone who uses our platform – whether sellers or buyers – as unlike some other marketplaces, we don’t sell our own products and compete against our sellers.”

Mark was appointed as chief commercial officer in March this year and stated he would be “looking to maximise the global opportunity for OnBuy,”

OnBuy has grown significantly since its launch four years ago to become a leading marketplace, working to connect its customers with trusted retailers and bringing consumers the products they love at competitive prices. The Lego range is just one of the many major brands to join OnBuy in recent years. OnBuy says this latest addition works in alignment the company’s values as a trusted brand known for its high standards when it comes to selling, and its exceptional product quality.

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