Kogan.com has announced the launch of its new marketplace platform, which the business says will connect sellers with “millions of shoppers”.
In a statement on Thursday morning, Kogan.com announced the launch of its new marketplace, which reportedly has more than 100,000 products already available for sale.
Discussing the launch, Lazar Monin, the director of Marketplace at Kogan said the new platform would be a win-win for both retailers and consumers, as well as the broader Kogan business.
“The launch of Kogan Marketplace is a win-win-win for everyone, Retailers on the Kogan Marketplace Platform will get market-leading infrastructure and the ability to offer their goods to the Kogan community. With today’s launch, there are now over 100,000 products available to purchase on Kogan.com – meaning customers have more choice than ever before,” he said.
According to the announcement, a number of “leading retailers” have already signed up to participate on the platform, with households brands like Microsoft, Breville, Lego, Gillette and Gucci available on the platform, as well as Fisher-Price, Paw Patrol and Soda Stream.
“Our mission is to make the most in-demand products and services more affordable for all Australians… We’re obsessed with creating a great experience at Kogan.com for our customers and sellers alike,” Monin said.
Products sold through the marketplace will also reportedly be eligible for the same benefits that customers shopping through Kogan.com receive. This includes Interest-Free Finance Options, the accrual of Qantas Frequent Flyers points and the ability to purchase goods by redeeming Qantas Frequent Flyer points or Citi Reward points.
At the same time, sellers will gain access to Kogan.com’s marketing support, payment gateways, customer support and integration with backend operations. With Amazon’s marketplace generating more than 50 percent of its revenue, Kogan is reportedly hopeful its own marketplace platform will prove just as fruitful in the long-term.
This comes after the broader Kogan business boasted “record trading” for the first half of fiscal 2019, reporting double-digit top-line and gross profit over the last six months.
For the half year ending December 31, 2018, Kogan.com said it achieved a gross transaction value of $277.3 million, up 12.9 percent YOY. Revenue reportedly came in at $231.8 million, representing a 10.6 percent increase on 1HY18, while gross profit was also up 10.8 percent on the previous year to $45.1 million.
Looking towards the second half of 2019, Kogan is positive the business will continue to perform.
“2019 has started well, with January unaudited management results showing continuing strong growth and increased operating leverage,” CEO, Ruslan Kogan said back in February.
The business’s unaudited management accounts show revenue growth of 13.1 percent over January and gross profit growth of 19.9 percent.