23/05/2024 11:53 AM

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Fashion The Revolution

UKM

UK Marketplace (UKM) launches new marketplace for the UK

Launching today, UK Marketplace (UKM) is set to provide a competitive new alternative to the established digital marketplaces, such as eBay, Etsy, and Not on the High Street. Differentiated by a model that works solely with UK-registered businesses and a value-driven transaction cost, UKM will provide a space dedicated to supporting UK businesses and UK communities. 

  • UK Marketplace has been created to support UK-registered businesses only
  • Fee-free, sellers will only pay a final value commission of 5% when goods are sold – making the platform among the most competitive on the market

Originally devised as a means to support British businesses post-Brexit, UKM will operate on a zero-fee policy, enabling sellers to create an account and list goods for free and only taking a 5% final value commission once a sale has been made. Sellers will also be able to list pre-loved items and classifieds for free, making UKM among the most cost-effective online marketplace for British businesses. As a comparison, the other leading marketplaces charge businesses collective fees that range from 13% (eBay) to 25%+ (Not on the High Street and Amazon), which can significantly impact a seller’s profitability. 

Also unlike like the incumbents in the field, UKM will discourage the ‘fight to the bottom’ pricing structure frequently seen in digital marketplaces where larger markets, such as China, undercut quality products with ten-a-penny alternatives. Instead, British sellers – whether businesses or budding entrepreneurs – will be able to realise the true value of their products. While taking those products to a global audience. 

Although new to the market, UKM already has more than 70 professional business sellers listing over 40k products, active on its platform with a further 30,000+ pre-registered users ready to download the app. In addition to an extensive, established, and fast-growing Facebook Marketplace “Buy/Sell Group” network, with over 52,000 active members and 5,000 new listings per month. 

UKM spokesperson, Martin Saxon comments: ‘Our aim with UKM is to create the leading one-stop go-to place for almost anything UK-related, while helping our customers to reach a broad global audience for the smallest possible fees. 

‘By integrating social media-style interactions – buyers will be able to ‘follow’ the sellers they are most impressed with or interested in – we are endeavouring to create a sense of community as well as a simple selling platform. One where sellers can really get to know their buyers, and buyers can purchase with confidence. While our intuitive interface and state-of-the-art seller control panel with a sophisticated sales report tool means that literally anyone in the UK can quickly and easily sell their products and track their sales.’

‘After months of building and beta testing, we are hugely excited to finally launch UKM to the public and can’t wait to see their response.’