‘British Amazon’ OnBuy.com gets top ranking, plans ‘aggressive’ expansion
Online marketplace, OnBuy.com, said it is now officially the largest UK-owned marketplace, according to the latest figures by internet analysts, Alexa and Similar Web.
The consumer and business marketplace said it hopes to achieve £400m in annual sales by 2021, 5 per cent of Amazon’s UK market share, by expanding into more than 100 other countries over the next year.
Latest figures by internet analysts, Alexa and Similar Web, rank OnBuy.com as number one in UK traffic rankings for UK-owned marketplaces, outranking competitors Fruugo and Flub-it.
“OnBuy.com has become the top-ranking UK marketplace, a huge achievement especially when taking into consideration that in January 2018 we secured only £2.7m in funding, which is in stark comparison to Fruugo’s $40m”, said Cas Paton, entrepreneur and founder of OnBuy.com.
“We are working closely with PayPal to launch in over 100 countries in the next 12 months, which is significantly more than our American counterpart, Amazon, who currently has 16 sites dedicated to 16 countries”, Paton said.
“Through our aggressive expansion plans we are targeting 5 per cent of Amazon’s market share, which equates to £400m, which will make OnBuy.com the first UK company to achieve such expansion in this space.”
The announcement comes at a significant time for OnBuy.com as the company heads for its next round of funding and looks to launch internationally in May.
“We are in a very strong position as the UK’s leading marketplace and we are already improving on Amazon across thousands of products. Our continued hard work and re-investment will support our expansion plans over the next three years as we take on more market share.”
The company also recently announced a partnership with PayPal and completed its integration with ChannelAdvisor, whichworks with some of the biggest brands and retailers in the world.