What are the “Makes” of the Best Marketplace for Local Buyers & Sellers?

Published by channelfront on

“The resale market is growing quickly because there is an incredible consumer appetite to find their favorite brands quickly and easily,” said Nick Huzar, CEO at OfferUp. Online shoppers are eager to find value, be more sustainable, and shop locally. The resale model checks all of these boxes. Retailers and brands are starting to include resale more directly in their business.

66% of shoppers will turn to resale marketplaces” in order to find the right fit or gift. With previously-owned products becoming a more desirable option, due to price point and sustainability, retailers and small business owners must consider the resale channel a potential revenue stream.

OfferUp is an online C2C marketplace focused on in-person transactions. It was founded as a competitor to Craigslist, differentiating itself with a mobile-friendly application and user profiles with ratings. But they realized that there is a vast market for people that prefer to buy used things locally instead of paying for shipping. You can find great deals and discounts on clothes, shoes, furniture, vintage fashion, cell phones, electronics, baby & kids’ items, sports equipment, used cars, home goods, and more. Browse thousands of new postings daily and sort by category or location.

My vision for OfferUp has always been to build a company that helps people connect and prosper,” said Nick Huzar, OfferUp CEO. This is a lifelong mission and they continue to build the widest, simplest, and most trustworthy experience for shoppers. America’s secondhand economy can be significantly large — coupling tech innovation to bring about an amazingly positive impact on shoppers’ wallets and the environment.

OfferUp brings together important features that differentiate it from competitors. They are integrated with the biggest multi-channel listing software, reputation features in-place, and are a community-driven platform.  

Catalog ­­Integration

OfferUp has integrated with ChannelAdvisor for its OfferUp Pro platform. Pro Sellers have the ability to sell a large number of products and fulfill more orders efficiently. ChannelAdvisor is a leading provider of cloud-based solutions to e-commerce companies. They have simplified the process of selling across multi-channel platforms. OfferUp Pro’s fees are lower than other marketplaces averaging 23% less than eBay, 27% less than Walmart, 33% less than Amazon, and 50% less than Poshmark. Once a ChannelAdvisor user, merchants can register to list, manage, sell, and ship in minutes. OfferUp will also roll deposits of sales into your bank account which means you get cash faster.

Biggest & Easiest Platform for C2C

OfferUp acquired its biggest competitor, Letgo, on July 1, 2020. They are now the biggest marketplace for local buyers and sellers. OfferUp is the fourth most popular shopping application in the U.S., with 20 million monthly active users. OfferUp is also the easiest way to buy and sell locally. You can list an item using your phone or tablet in as little as 30 seconds. It is easy to find great deals on the things you want and make money on the things you want to sell.

Reputation, Safety & Trust

OfferUp allows every user to build their reputation on their own profile page. Just like on eBay, users can rate a person after a deal. Shoppers can also join their service TruYou and add their ID to prove the authenticity of a profile. Reputation and safety features like ratings and profiles let you see who you’re dealing with and build trust. Even though the deals are conducted personally, their system provides communication between buyers & sellers through the application via secure messaging.

Community Driven

Some people become deeply invested in their communities. They look for ways to support one another during challenging times and buying from a local business is an easy way to do that. Join millions of people helping each other make and save money around the nation and right in the neighborhood. “OfferUp is a community-driven marketplace, so you don’t need to be a big seller to find success,” said Huzar. Most successful sellers have the ability to create eye-catching listings with vibrant photos, interesting description details, and competitive pricing. The intimacy created through peer-to-peer, or small brand-to-consumer, selling plays into the growing trend to shop local. As consumers look to support their community, the appeal of buying locally can fulfill this need while also making delivery more efficient.

In a recent survey, OfferUp found that “38% of shoppers had their budgets negatively impacted as a result of the pandemic and almost 40% believed that purchasing second-hand would help them save between $101-300.” Today, the price point continues to play a big role in decision-making. The price point is a great way for small brands to attract younger shoppers who may stay and pay full price when times are better. It is also a useful way for new sellers to establish themselves in the marketplace. Selling online through a resale marketplace can help create personal relationships with buyers. OfferUp also found that “46% of shoppers would rather buy something reused or environmentally friendly this year than something new and trendy.” We believe, the more comfortable and easier the way OfferUp connects a shopper and seller is, the more successful it will be.

ChannelFront is an eCommerce agency focused on mastering the marketplaces. Connect with us to learn how we can help take your catalog and launch in OfferUp, and many other marketplaces.


0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate