What Is OnBuy
OnBuy is a UK-based online marketplace where customers may explore and buy products from sellers by using their platform to list a variety of things for sale.
It is comparable to other well-known online marketplaces like Amazon and eBay, but its main focus is on the UK market, meaning that buyers and sellers in that country are the main audience for it.
Furthermore, OnBuy sets itself apart from other online marketplaces by providing low selling costs and abstaining from direct competition with its sellers—that is, unlike Amazon, it doesn't sell any of its own goods on its marketplace.
How Does OnBuy Work?
OnBuy works as an intermediary between buyers and sellers that facilitates the transaction between them and offers certain safeguards and dispute resolution mechanisms to protect both parties.
It's crucial to remember that OnBuy neither owns nor maintains inventory of the goods being sold on its marketplace.
Rather, it enables independent vendors to post their goods so that customers can look through and buy from them.
Here’s a detailed overview of how it works:
Seller Register: In order to sell, sellers must first register on OnBuy. They can do this by creating a seller account, providing necessary information about their business, and agreeing to OnBuy’s terms and conditions.
Wait For Approval: OnBuy will then evaluate the application to determine whether to approve or reject it.
List Products: Once approved, sellers can create listings for the products they want to sell. This includes providing details about the product, such as its name, description, price, images, inventory, and shipping information. OnBuy may have guidelines and requirements for these listings to ensure quality and accuracy.
Set Up Delivery Methods: Sellers are required to set up their own couriers and delivery methods. OnBuy does not have its own dedicated courier or delivery service.
Buyer Browse & Search: Buyers can search for products using a search bar or browse through categories and subcategories on the OnBuy website. They can use filters and sorting options to refine their search and find the products they want.
Product & Seller Selection: After finding a product they want to purchase, buyers can click on it to view detailed information such as product details, reviews, seller ratings, and compare prices from different sellers offering the same product.
Add to Cart: Once the product and seller is chosen, they can add their desired item(s) to the shopping cart, similar to traditional e-commerce platforms.
Checkout: After adding all the items they want to purchase, buyers proceed to the checkout process, where they can review their order, select a payment method, and enter shipping information.
Order Confirmation: Once the order is placed, the buyer receives an order confirmation, and the seller is notified of the purchase by OnBuy.
The Payment Is Held By OnBuy: As an intermediary between both parties, OnBuy processes the payment securely and holds it until the seller delivers the product and the buyer receives and accepts it.
Communication: Once the order is placed by the buyer, both buyers and sellers can communicate with each other regarding orders, product inquiries, and any issues that may arise during the process.
Seller Ships The Item(s): When an order is placed, sellers are obligated to promptly dispatch the ordered products.
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Buyers Receive & Verify: Upon receiving the items, buyers should carefully inspect them to ensure they match the description and are exactly as shown and described in the product listing of the seller.
If Accepted:
If the buyer accepts the order and any applicable return or refund periods have passed, OnBuy releases the payment to the seller, minus any applicable fees.
Additionally, the buyer can rate the seller which is highly recommended as it helps other potential buyers to make informed decisions and build trust and reputation on the platform.
If Rejected:
If the buyer finds any issues with the received products, such as damage, incorrect items, not as described, or quality concerns, they can document the problems and communicate with the seller through the OnBuy platform. This may involve providing images or descriptions of the issues.
Depending on the nature of the issue, the buyer and seller can agree on a resolution, which may involve a refund, replacement, or other mutually acceptable solutions. OnBuy may assist in processing refunds if necessary.
OnBuy Dispute Resolution: In cases where a resolution cannot be reached between the buyer and seller, you can contact OnBuy’s customer support to step in, review the situation, and ensure a fair outcome.
Conclusion
OnBuy serves as a mediator between buyers and sellers, handling payment processing, helping to resolve disputes, and putting in place several safeguards to ensure the safety of both sides. It does not, however, maintain inventory itself.
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