The charm of baseball cards, often referred to as “cardboard gold,” has been magnified by Whatnot, a live-stream shopping network making waves in North America and Europe. Armand Wilson, the Vice President of Categories & Expansion at Whatnot, attributes the platform’s remarkable success to the recent resurgence of sports card collecting. Whatnot boasts an impressive statistic of selling a card every second on its site.
Wilson revealed that the baseball card category stands out as one of the largest on the platform, emphasizing its substantial impact. In the first nine months of 2024, Whatnot sellers raked in an astounding $2 billion in live sales. Over 500 of these sellers earned more than $1 million, prompting some to transition from traditional jobs to dedicate their time fully to the platform.
Established in 2019 with a focus on Funko Pops, Whatnot quickly expanded into various categories, including the lucrative sports card market. Wilson explained that the platform initially aimed to address consumer challenges in acquiring collectibles online, especially given the prevalent issue of fraud in the market. The steady venture into cards seamlessly aligned with Whatnot’s mission, with the average buyer reportedly collecting 12 items per week.
A pivotal moment for the company was its involvement in “The National,” a prominent midsummer collectibles show. Whatnot ingeniously recreated the convention atmosphere on its app, enticing thousands of sellers to showcase their products in real-time. This innovative approach fostered dynamic interactions between buyers and sellers, reinforcing Whatnot’s status in the market. Wilson highlighted the power of the app when sellers unite, showcasing the platform’s capabilities.
While Whatnot charges an 8% commission on each sale, sellers note a substantial increase in sales volume compared to other marketplaces. Wilson shared that sellers on Whatnot vend twice as much as they would elsewhere, attributed to the platform’s focus on enriching user experiences for both buyers and sellers. By prioritizing user satisfaction without fixating on competitors, Whatnot has cultivated a thriving community within its marketplace.
The staggering growth of Whatnot is undeniable, with the workforce expanding from less than ten employees to nearly 700 within four years. Baseball cards have significantly fueled this expansion, as Wilson identified sports cards as a stellar amalgamation of cards and online shopping, resonating well with consumers. The success stories of sellers like Geoff Wilson from Cards HQ and entrepreneur Dakota Peters exemplify the platform’s remarkable potential, with sales reaching millions and facilitating full-time ventures.
Maintaining trust between buyers and sellers is paramount for Whatnot, although the platform does not directly authenticate products. Sellers uphold their reputation by upholding high standards and promptly addressing customer concerns to cultivate trust for growth, as emphasized by Wilson.
Based in Culver City, California, with branches spanning North America and Europe, Whatnot has swiftly emerged as a global force. Hosting a whopping 175,000 hours of live streams weekly—800 times more than QVC—the platform witnesses sellers achieving nine times more sales than on other platforms. Buyers are equally engaged, spending an average of 80 minutes daily tuned into live streams.
An intriguing feature on Whatnot, card-breaking, involves sharing a box of cards among a group and collectively unveiling packs, fostering a sense of community and anticipation. Wilson highlighted the excitement surrounding these auctions, with some lasting only a minute, ensuring users return for the thrill.
Beyond a mere marketplace, Whatnot has evolved into a social and interactive platform for collectors, with sellers actively engaging with buyers during live streams. This personalized touch has cultivated a diverse and loyal audience, spanning from young enthusiasts to seasoned collectors, creating a vibrant community of collectors, including Wilson’s 79-year-old father.
As Whatnot continues expanding its horizons, its transformative impact on the collectibles market is undeniable. By amalgamating the allure of live-streaming with the timeless appeal of baseball cards, Whatnot has firmly established itself as a frontrunner in the burgeoning collectibles industry.
