OnBuy Challenges Traditional Marketplace Perception

  • 64% of consumers want to support independent retailers, but believe they can only do so by buying directly from them.
  • 90% think marketplaces compete with retailers, leading to misconceptions about their role in the e-commerce landscape.
  • OnBuy, a growing UK marketplace, aims to change this perception and prioritize fairness for retailers.
  • OnBuy cut commission sitewide during Black Friday to support retailer pricing.
  • CEO Cas Paton emphasizes fairness and transparency as core values of the platform.

A recent survey by OnBuy reveals that consumers misunderstand the relationship between marketplaces and independent retailers. While 64% of consumers want to support indie shops, 90% believe they must buy directly from them to do so. OnBuy, an e-commerce platform on track to become the UK’s next giant, aims to change this perception by prioritizing fairness and transparency for retailers. The company cut its commission sitewide during Black Friday to support retailer pricing and has been named to FT1000 list of Europe’s fastest-growing companies. CEO Cas Paton emphasizes that marketplaces should facilitate buying and selling, not compete with retailers.

Factuality Level: 9
Factuality Justification: The article provides accurate information about a survey conducted by OnBuy on consumer perception of marketplaces and independent retailers. It includes relevant data from the survey, quotes from the CEO and a retailer on the platform, and explains the company’s approach to fairness and transparency. The only potential issue is that it promotes OnBuy as an alternative to other marketplaces, but this does not detract significantly from the overall factuality.
Noise Level: 3
Noise Justification: The article provides relevant information about consumer perception of online marketplaces and how OnBuy is differentiating itself by prioritizing fairness and transparency for retailers. It includes data from a survey and quotes from the CEO and a retailer on the platform. However, it could benefit from more in-depth analysis or discussion of the broader implications of this approach on the e-commerce industry.
Financial Relevance: Yes
Financial Markets Impacted: OnBuy marketplace
Financial Rating Justification: The article discusses the e-commerce landscape, focusing on OnBuy’s approach to treat retailers fairly and its impact on consumer perception. This can potentially affect the financial performance of OnBuy as a marketplace and its relationship with retailers, which in turn may influence the overall e-commerce market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The information provided discusses consumer preferences and perceptions of online marketplaces and their impact on independent retailers, but does not describe any major incident or crisis.

Reported publicly: www.retailsector.co.uk