UK-based online marketplace is eager to support the economy

OnBuy plans to take a bite out of Amazon marketshare

A new British online marketplace says it plans to take five per cent marketshare from Amazon over the next three years. – which has secured major investment from IT provider Centerprise International – already has around 200 retail/vendor partners on board. It’s hoping to have 1,000 in total and some one million products listed for sale when it goes live.

OnBuy MD Cas Paton (pictured) told PCR he believes OnBuy’s British focus will set it apart.

“We would like to take five per cent of Amazon’s market share over three years,” he said. “But we’re here to support the UK economy. The UK economy is being skimmed; there’s a lot of money going overseas and we need to make sure the entire sales cycle is kept on-shore. Let’s bring it back to Britain.

 “If your business is 100 per cent on-shore you can support the UK economy completely. Online retailers have commented that they find Amazon a very difficult company to reach, which is typical of a very corporate institution. We want to be as approachable as possible, because we want clarity and open relationships with retailers and consumers. We will allow the sale of overseas items within the UK market but those sales are still going to be made within the UK market.

“We’ve already had some major retailers and brands come on board interested in working with a British marketplace. I believe this is a great thing for the economy.”

OnBuy is aimed at businesses – including major brands and independent retailers ­– rather than individuals who may want to make private sales. There are no sign-up fees – just a flat monthly rate of £22 from when the UK site launches in November.

OnBuy categories include Electronics & Technology, Cameras & Photo, Business & Industrial, DVD, Games & Music, and more.

Check Also

Technology leaders are facing unique challenges – only a unique approach to leadership will solve them

As spiralling inflation, interest rate hikes and the threat of recession drive up the cost …