What is Bonanza? Bonanza Review

Bonanza is a small American e-commerce platform founded by Bill Harding in 2008. This platform is aimed at global buyers, but mainly in Europe and the United States.

About Bonanza

Bonanza was founded in 2008, when eBay's leadership changed and new policies came into effect. Many eBay sellers began looking for alternative platforms. The Bonanza platform grew rapidly, with more than 100,000 users by September 2009. Currently, Bonanza has 40,000 sellers and more than 1.5 million users.

Bonanza is a small American e-commerce platform that has a certain relationship with eBay. Bonanza is mainly for small and medium-sized retailers. Bonanza was founded by Bill Harding in 2008. This platform is open to global buyers, but its main market is still mainly in Europe and the United States. At present, there are about 10,000 sellers of various kinds who have settled in the Bonanza platform. Although the data of this platform is relatively small, for small and medium-sized sellers, it is impossible to get high traffic on platforms like Amazon. Bonanza is a good choice and is rated as the most recommended e-commerce platform.

So far, there are about 50,000 sellers on Bonanza, with users from 199 countries and a total inventory of more than 20 million products. In a survey initiated by EcommerceBytes and participated by more than 12,000 sellers, Bonanza was rated as the "most recommended" e-commerce platform.

Bonanza Platform Features

The overall traffic of the Bonanza platform is not large. You should know that Bonanza's current traffic data is negligible compared to Amazon, and the main source of traffic for the platform is still the United States. The functions within the Bonanza platform are relatively complete. So far, there have been no famous big sellers on this platform, which also indirectly shows that the platform cares equally for every seller.

They are very friendly to new sellers. The platform does not charge listing fees. For start-up sellers, creating an account and listing is completely free. Only with sales records will the corresponding fees be charged. Products without sales records will not even be charged advertising fees. So how does Bonanza charge fees? Sellers can choose the platform's commission rate. When the product is sold, the platform will charge the corresponding commission. For sellers, it seems to be a zero-based transaction.

Bonanza launched the advertising service platform Broadcaster in 2016, which is one of the basic tools for sellers on the platform. The platform launched this service to get more attention for sellers' products. Sellers can publish their products through various channels such as Google Shopping, Bing Shopping, affiliate marketing, etc., and the platform will be responsible for handling the publishing work.

Platform Advantages

1. The Bonanza platform has its own advertising platform and customer marketing tools. On this platform, the main challenge for sellers is how to sell and how to improve their conversion rates.

2. The operation mode of the Bonanza platform is somewhat different from that of the current mainstream cross-border e-commerce platforms in China. There are no big sellers yet, so the competitive pressure for small and medium-sized sellers is not that great.

3. Another good feature of the Bonanza platform is that it does not charge listing fees, and the transaction fees for products are not calculated based on categories. Instead, there are four options: 3%, 16%, 19%, and 30%. The higher the ratio, the more traffic you will get, and of course, the more chances you will have to close deals. Creating an account and listing is free, and there is no advertising fee for products that are not sold.

4. Bonanza platform accepts PayPal, credit card, and Alipay settlement, but does not accept checks and drafts. The products sold are settled once a month. Moreover, compared with Amazon, which only pays attention to products and not sellers, Bonanza is more willing to create more connections between buyers and sellers, rather than letting sellers compete for shopping carts (buybox) to get orders. Therefore, sellers who still have doubts about the Bonanza platform can indeed try to enter the Bonanza platform. If there are many super sellers on platforms such as Amazon and eBay, it is a good thing for small and medium-sized sellers to develop more channels.

Category

Some friends don't know much about the categories of the Bonanza platform. They want to sell products but don't know how to choose them. The categories of the Bonanza platform include 28 categories, covering women, furniture, mother and baby, music, books, etc. Friends who are interested in the Bonanza platform can focus on finding products under these categories.

Shop opening costs

1. It is free for users to publish products on Bonanza: creating an account/listing is free, transaction fees are low, and there are no advertising fees until the seller sells the product.

2. Pay commissions based on transactions. You can choose the commission ratio: 3%, 16%, 19%, 30%. The higher the commission ratio, the greater the traffic, and of course the higher the chance of a transaction.

3. You can open a membership or purchase a traffic package to get more traffic as needed.

Registration Process

1. Click here to log in to the Bonanza platform to register, or log in directly with your Facebook or Google account;

2. Fill in your username and registered email address. The password you set cannot be less than 6 digits and must contain numbers, uppercase and lowercase letters. In addition, fill in your local zip code, international region, and choose how you learned about the Bonanza platform. You can leave it unchecked whether to accept Bonanza platform news.

3. Click Register, you will receive an email in your mailbox, click the green confirmation to confirm success. Then we can publish the product and start selling.

honor

In August 2014, Bonanza's Background Burner webpage was ranked in the top 50 on the web by Time magazine.

In 2015, Bonanza was named Small Business of the Year and Best Place to Work in Belize.

In 2016, Bonanza was voted the “most recommended” e-commerce platform (beating Amazon, Etsy, and all other competitors) in a survey of over 12,000 sellers by EcommerceBytes.

In 2016, Bonanza was named one of "America's Best Enterprise Companies" by Entrepreneur magazine.