The world of collecting has undergone a dramatic transformation, with Whatnot emerging as a pioneering force in revolutionizing the experience of buying and selling collectibles. The platform, known as the largest live-stream shopping network in North America and Europe, owes much of its success to the resurgence of baseball cards, affectionately dubbed as “cardboard gold.”
Armand Wilson, Vice President of Categories & Expansion at Whatnot, shared insights into the platform’s thriving ecosystem. He revealed that a card is sold every second on the site, highlighting the enormous popularity of baseball cards within the Whatnot community. The renaissance of sports card collecting has been a driving force behind the platform’s unprecedented growth.
Whatnot initially delved into the world of collectibles in 2019, starting with Funko Pops before branching out into diverse categories, including sports cards. Wilson emphasized that Whatnot’s inception was fueled by a mission to address the challenges buyers faced in the online collectibles market, particularly rampant fraud. The seamless integration of sports cards into the platform has resonated well with users, with the average buyer collecting a remarkable 12 items per week.
A pivotal moment for Whatnot was its participation in “The National,” a prominent midsummer collectibles show. The platform recreated the convention experience within its app, enabling thousands of sellers to showcase their offerings in real-time. This innovative approach facilitated dynamic interactions between buyers and sellers, solidifying Whatnot’s standing in the market and showcasing the platform’s capabilities. Wilson highlighted the impact of bringing sellers together, showcasing the power and versatility of the app.
Despite charging an 8% commission on sales, Whatnot has seen sellers achieving significantly higher sales volumes compared to other marketplaces. Wilson noted that sellers on Whatnot sell twice as much as they do on alternative platforms, attributing this success to the platform’s emphasis on enhancing the user experience. By prioritizing the satisfaction of both buyers and sellers, Whatnot has cultivated a loyal user base and fostered a thriving online community.
The exponential growth of Whatnot is evident in its journey from a small team to a workforce of nearly 700 employees. Baseball cards have played a pivotal role in fueling this expansion, with Wilson remarking on the allure of sports cards as a perfect product in the realm of online shopping. Success stories from sellers further underscore the platform’s potential, with individuals like Geoff Wilson and Dakota Peters achieving remarkable sales milestones and transforming their businesses through Whatnot.
Trust is a cornerstone of Whatnot’s ethos, with the platform emphasizing the importance of building and maintaining trust between buyers and sellers. While products are not authenticated directly by Whatnot, sellers uphold high standards and prioritize addressing customer concerns promptly to instill confidence in their offerings. Wilson emphasized the role of trust in fostering growth and propelling sellers to success on the platform.
Based in Culver City, California, with hubs across North America and Europe, Whatnot has cemented its status as a global powerhouse in the world of collectibles. The platform hosts an impressive 175,000 hours of live streams weekly, showcasing products and engaging with buyers in real-time. Sellers on Whatnot achieve nine times more sales than on other marketplaces, with users spending an average of 80 minutes daily immersed in live streams.
One of Whatnot’s standout features is card-breaking, a popular practice that involves unpacking cards as a group during live auctions. The excitement and sense of community fostered by this activity have resonated with collectors, driving engagement and retention on the platform. The fast-paced nature of the auctions, some lasting just a minute, adds to the thrill and keeps users eagerly returning for more.
Whatnot has transcended being merely a marketplace, evolving into a social and interactive hub for collectors of all ages. Sellers personalize interactions with buyers, creating a sense of connection and catering to individual interests. This personalized approach has cultivated a diverse and loyal audience, spanning from young enthusiasts to seasoned collectors, showcasing the platform’s broad appeal and ability to unite collectors across generations.
In its ongoing expansion, Whatnot continues to redefine the landscape of collectibles by blending the excitement of live-streaming with the enduring allure of baseball cards. By championing innovation, fostering community engagement, and prioritizing user experience, Whatnot has firmly established itself as a trailblazer in the flourishing collectibles market.
