OnBuy reports 224% annual growth
Online marketplace OnBuy has been celebrating its fifth birthday with a 224% rise in annual revenue.
Founded by Cas Paton in 2016, the company has also seen an 80% increase in sellers on the marketplace in the last year, with over 10,000 selling through the site.
Sellers range from household names like Lego and Fitbit to small companies such as HugglePets, a pet shop in Wolverhampton that started selling on the platform during the Covid-19 lockdowns.
OnBuy has also experienced a 71% increase in live product listings, with more than 36 million products available to buy on the site. The average order value has also increased to just under £50. The company has seen just under two million new customers on the site this year.
Mark Lister, chief commercial officer of OnBuy, said: “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.”
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