OnBuy, a rapidly growing online marketplace, plans an ambitious international expansion.
- The company seeks to enter 14 new countries by the end of the year, starting with the EU.
- A strategic partnership with Google Cloud is set to enhance platform capabilities.
- OnBuy aims to revolutionise shopping with features like immediate cashback guarantees.
- The expansion is bolstered by a significant £2.5m strategic investment.
Dorset-based OnBuy has announced a significant development in its international strategy, aiming to penetrate 14 new markets by the year’s end. This initiative will first see a rollout across European Union countries before extending to North America by 2025. Recognised last year as Europe’s fastest-growing e-commerce business, OnBuy is positioning itself for substantial growth due to its expanding global footprint.
Established in 2016, OnBuy hosts a diverse range of retailers, including small independents and major names like Sports Direct, offering over 40 million products. The platform attributes its accelerated expansion to maintaining low infrastructure costs, leveraging the existing networks of retailers and fulfilment partners, thus allowing for a broader reach without the burden of extensive physical infrastructure.
Crucial to this expansion is OnBuy’s recent partnership with Google Cloud. The collaboration is expected to significantly enhance the online shopping experience, benefiting both sellers and customers. It aims to reduce operational costs and open up new revenue streams, facilitating a more efficient and cost-effective service. Cas Paton, OnBuy’s CEO and co-founder, emphasised the platform’s unique approach, highlighting its ability to balance seller and customer benefits to ensure a fair marketplace experience.
Paton expressed confidence that the international expansion would enhance customer awareness of OnBuy as a smarter shopping alternative, noting features like guaranteed immediate cashback. He stated, “Now is the perfect time for an innovative disruptor like OnBuy to challenge the leading brands with a fresh viable customer proposition.” This aligns with OnBuy’s strategy to set itself apart in a crowded market and build a strong international presence.
The firm’s £2.5m strategic investment earlier this year further fuels its growth ambitions, providing the necessary capital to support the expansion and develop its platform capabilities. This development reflects OnBuy’s commitment to scaling its operations while maintaining a high standard of service and innovation.
OnBuy’s strategic initiatives, amplified by its Google partnership, set the stage for significant international growth and market disruption.
