What is Whatnot? Everything you need to know

There are many choices for purchasing and promoting merchandise on-line, so any new platform must discover a strategy to differentiate itself. Whatnot takes one other angle, harnessing the success of the favored dwell video gross sales technique and centralizing it right into a hub stuffed with all kinds of collectors. What’s Whatnot all about? We’ll cowl every part you have to know in regards to the service, so stick round.

What’s Whatnot, and who’s it for?

Whatnot is a neighborhood market for patrons and sellers. Sounds easy, proper? The primary differentiator is that each one gross sales are made by way of dwell video. This creates a social facet wherein individuals can work together through the course of. In truth, the primary time I entered a sale, the host greeted me personally, saying: “What’s up, Sasquatch? Welcome in.”

The web site is especially geared towards the sale of assortment objects. This contains collectible figurines, toys, buying and selling playing cards, jewellery, video video games, arts & crafts, and whatnot.

Once you join a Whatnot account, you possibly can both turn out to be a purchaser or a vendor. When you’re able to go, it’s essential to flick through the record of classes, look by way of the dwell streams, and be part of one. The host will discuss in regards to the product he’s promoting, and geek out over the subject with all different members.

If you wish to buy any of the objects, you possibly can both bid for them or purchase them instantly. The choices are titled Public sale or Purchase Now. You can even look by way of the Offered and Bought sections.

After a purchase order, the vendor will ship the product and receives a commission for it.

Whatnot is especially meant for promoting and shopping for collectibles, however the record of supported merchandise could be very broad. Right here’s Whatnot’s official class record.

What are the professionals and cons of utilizing Whatnot?

Like every other platform, Whatnot has its good and unhealthy sides. Let’s speak about them.

It’s enjoyable and interactive!

The artwork of promoting is complicated. Merely posting a product on eBay could appear a bit chilly and distant. With Whatnot, sellers work together with potential prospects and often have enjoyable whereas doing so. Individuals can geek out on objects and ask questions dwell. The vendor can reply to questions instantly and persuade patrons to buy an merchandise. Moreover, some sellers do enjoyable issues like host giveaways, or randomize gross sales by letting a wheel determine what you win for a set prize.

You will discover hard-to-get collectibles

Collectors understand how onerous it’s to search out some merchandise. Generally it’s onerous to get particular objects from giants like eBay or Amazon. As a result of Whatnot is stuffed with like-minded followers of the identical issues, you’re prone to discover uncommon objects.

It’s fairly protected

Whatnot acts as a mediator between patrons and sellers. You are able to do every part from the app to finalize a purchase order. Sellers aren’t paid till a product is shipped. There’s additionally a course of for making certain objects are genuine. Probabilities of fraud or scams are slim.

There aren’t many individuals utilizing it

Whatnot is a comparatively new service (launched in 2019). As such, it’s clearly not as well-liked as different marketplaces. The web site has been getting 2.7-3.0 million guests month-to-month for a few months. That’s nothing in comparison with the over 700 million eBay guests.

Most individuals utilizing Whatnot are like-minded people with comparable hobbies, making every buyer and vendor extra invaluable, however numbers nonetheless assist get issues offered.

You must watch to purchase

Many people nonetheless really feel like watching a livestream to purchase issues is a bit an excessive amount of. Generally I don’t need to socialize or hearken to somebody after I buy one thing. Whatnot doesn’t offer you this feature.

Nothing in life is free, and neither is Whatnot’s companies. The corporate will take an 8% fee on all gross sales. Moreover, the customer should cowl a fee charge of two.9% plus $0.30. And the processing charge is utilized to the full, together with the subtotal, tax, and delivery prices.

How a lot is delivery?

Transport costs rely upon the product’s weight, and likewise the place you ship the product to and from. If the transaction occurs inside the USA, delivery begins at $4 plus $0.25 per further merchandise. That covers as much as one ounce of delivery weight.