OnBuy, a U.K. online marketplace launched in November 2016, has announced a £50 million price crash event for New Year’s Day. The marketplace, which offers products in 17 categories, including sports & outdoor, will reduce all seller fees so that every single one of the more than 30 million items on its marketplace can be discounted. The price reduction comes as OnBuy prepares for a busy 2021. That includes opening an office in Manchester in the spring and launching its platform into over 140 countries by year-end 2023. “Cutting our fees means that sellers stand to enjoy a risk-free way of seeing an early boost to their sales for 2021, with the full support of our marketplace,” said Cas Paton, founder and CEO, adding that consumers can also support independent businesses while they shop, as his company will cover the cost of the discounts.
Paton founded OnBuy as a fairer, more transparent marketplace that puts its buyers and sellers first. In doing so, the platform doesn’t compete with its sellers by selling anything itself. “We’re here to connect buyers like you with thousands of professional business sellers (and vice versa) to bring you a simple, secure shopping experience,” the company says.