OnBuy is preparing for a major phase of international growth. It plans to expand into 14 countries by the end of 2024. Following eight years of continuous growth in the UK, the British-born eCommerce challenger is advancing its long-term strategy. The OnBuy expansion will kick off in the EU by the end of this year, followed by entry into the North America market in 2025. The company expects its expanded presence to fuel growth, projecting a tenfold increase over the coming years.
As a tech-first platform, OnBuy’s ability to scale quickly worldwide is largely due to its lean infrastructure. By leveraging the capabilities of retailers and their channel management and fulfillment partners, the platform keeps operational costs low while maintaining agility in new markets.
This expansion news follows OnBuy’s recent partnership with Google Cloud, a strategic move that will support its international growth. The partnership equips OnBuy with scalable, modern cloud infrastructure, enhancing the experience for both sellers and customers. It aims to reduce costs, improve operational efficiency, and offer faster, more secure checkout options, all while enabling new revenue streams.
In 2024, OnBuy secured a £2.5 million strategic investment led by a global tech firm. The news was featured in the FT1000 list for the third consecutive year. It also introduced cashback deals of up to 15%. With a strong focus on tech innovation and customer-centricity, OnBuy aims to build its market share beyond the UK. Moreover, the marketplace will continue challenging the eCommerce giants on a global scale.
Source: ChannelX