What is OpenSky? OpenSky Review

OpenSky is a website where bloggers sell things themselves. On OpenSky's shopping website, consumers can follow celebrities or experts who share similar interests and hobbies with them, and receive the latest food, fashion + trend elements, clothing and accessories design styles recommended by celebrities or experts.

About OpenSky

OpenSky is like a high-end version of Wish. It focuses on products such as clothing, home furnishings, electronics, jewelry, cosmetics, accessories and fitness equipment. The sellers it faces are small and medium-sized enterprises, and the consumer group is mainly high-income women aged 35-60 with strong purchasing power. In terms of price, the average customer price of OpenSky products is generally between US$35 and US$55. Compared with the price competition on eBay and AliExpress, the competition here may still be about quality.

According to statistics from SimilarWeb, the website OpenSky has nearly 1 million visits per month. With more people, the profits should be huge. Currently, OpenSky has 10 million active users, 100,000 sellers and 120 million parcels. The annual sales volume exceeds 5 billion US dollars. Therefore, cross-border merchants do not have to worry about the problem of traffic loss due to the niche positioning of the platform.

Entry conditions

If you want to open a store on OpenSky, you need to prepare the following materials:

1. Apply for an EIN, which is a U.S. federal tax number. You can apply by phone or fax, which is free.

2. Apply for an international credit card (Visa, Master, or American Express are all acceptable). This will mainly be used to deduct monthly fees and Boost advertising fees.

3. OpenSky may ask you to fill out a W-9 or W-8 tax form when you open a store or during operation. This generally does not matter. If you are asked to submit it, just fill it out according to the process.

4. Prepare a U.S. return address and find an overseas warehouse.

5. OpenSky prohibits Drop Ship sellers. Even if you are one, you cannot tell the platform, otherwise it will limit the growth of your store.

6. It is recommended to prepare an overseas warehouse.

Settlement process

1. Create a seller account

Step 1: Registration link, click start selling to start registration.

Opensky provides two packages for sellers, annual package ($31.58*12 years) and monthly package ($39.95 per month). Merchants can choose the appropriate package, but new sellers are recommended to choose the monthly package. The cycle is short, more flexible, and the main thing is that the financial pressure will be much less.

Step 2: Fill in the basic registration information and click Submit:

Step 3: Fill in the credit card information:

Step 4: Complete the WF USD account information to facilitate payment collection.

Step 5: Supplement business details such as product return address and delivery address

If you are interested in promoting on OpenSky, you can select the promotion package in the boost option.

For promotional packages, please select $500-Your best value:

Set a store discount, which applies to all products in the store; individual product discounts take precedence over store discounts.

2. Log in and upload products

Like other cross-border e-commerce platforms, OpenSky allows sellers to upload products individually or in batches.

Upload products individually (upload 1 or more):

Opensky sellers only need to pay attention to the following points:

Fill in product information;

Upload product pictures and videos;

Fill in product price, sku and other background information;

Set up warehouse logistics.

To upload products in bulk:

Select bulk edit in the product drop-down menu, then upload a product catalog in csv format to complete it.

Settlement Fees

1. Rent: Monthly ($39.95 USD) or Yearly ($379 USD -20% savings);

2. Commission: 18% regardless of category;

3. Transaction fees: Once you establish your Merchant Plan, OpenSky will charge corresponding fees for each of your transactions: 15% transaction fee and 3% credit card fee.

Receiving Payments

OpenSky pays out every half month. For orders placed before the 15th of each month, payment will be made at the end of the month. For orders placed after the 15th, payment will be made on the 15th of the following month. If payment is made on a weekend or holiday, payment will be postponed to the first working day of the following month.

OpenSky will provide rebates for orders sent out by sellers based on the seller's delivery time and order status, but if the customer cancels the order or refunds within a certain period of time, the seller will not be able to enjoy the order rebate provided by OpenSky.

Example:

If a user places an order on January 31st and the seller ships the goods on February 2nd, OpenSky will recognize the order and calculate the rebate into the payment item at the end of the month. If the customer refunds or cancels the order midway, the seller will not be able to enjoy the rebate and the rebate for this order will be reset to zero.

Financing

OpenSky raised $19 million in its first two rounds of funding within just six months of its founding.

In October 2011, OpenSky raised $30 million in a new round of financing led by Providence Equity Partners, a U.S. private equity fund. Highland Capital Partners, Canaan Partners, and the Raine Group also actively participated in this round of investment.

In June 2015, Alibaba Group will sell its US online shopping subsidiary 11 Main to another US online trading platform OpenSky. In exchange, Alibaba will acquire 37.6% of OpenSky's shares.