The nostalgia of rifling through a shoebox filled with baseball cards is no longer confined to childhood memories; it’s now a booming marketplace thanks to Whatnot. Launched in 2019 as a platform focusing on Funko Pops, Whatnot rapidly expanded into various categories, including the ever-popular sports cards. The brainchild behind this rapid growth is Armand Wilson, the Vice President of Categories & Expansion at Whatnot.
Wilson attests that the resurging interest in sports card collecting has been a significant factor propelling Whatnot to unparalleled success. With a card being sold every second on the platform, it’s no wonder that the platform has garnered $2 billion in live sales within the first nine months of 2024 alone. Over 500 sellers have exceeded the $1 million mark, some even opting to ditch their traditional jobs to focus solely on their Whatnot businesses.
The turning point for Whatnot came with its participation in “The National” – a massive midsummer collectibles show. By replicating the convention floor within its app, Whatnot provided a dynamic space for thousands of sellers to showcase their inventory live, leading to enhanced connections between buyers and sellers. This innovative approach showcased the power and potential of the app, solidifying Whatnot’s foothold in the market.
Despite charging an 8% commission on each sale, sellers on Whatnot report substantially higher sales volumes compared to other platforms. Wilson attributes this success to the platform’s unwavering focus on improving user experiences for both buyers and sellers. With an emphasis on trust building, sellers on Whatnot maintain high standards and promptly address customer concerns to foster a reliable marketplace environment.
Unveiling a staggering growth trajectory, Whatnot has evolved from having fewer than ten employees to almost 700 today. The infusion of baseball cards into the platform has played a pivotal role in this expansion. Geoff Wilson from Cards HQ and entrepreneur Dakota Peters are shining examples of sellers who have thrived on Whatnot, amassing millions in sales and transforming hobbies into successful full-time ventures.
Whatnot’s global presence with hubs in North America and Europe has positioned it as a dominant force in the online marketplace arena. Hosting a staggering 175,000 hours of live streams weekly, Whatnot surpasses traditional TV retailers like QVC by 800 times. The engagement level on the platform is unmatched, with buyers spending an average of 80 minutes daily watching live streams.
One of Whatnot’s standout features is card-breaking – a practice where users collectively open packs of cards in a fast-paced auction setting. This interactive experience fosters a sense of community and excitement among collectors, with auctions sometimes concluding in just a minute, keeping users continuously engaged.
Moreover, Whatnot goes beyond being a mere marketplace; it’s a social hub where buyers and sellers engage in real-time interactions. Personalized engagements, including calling out buyers by name and catering to their preferences, have helped Whatnot establish a loyal and diverse audience. From young collectors in their 20s to seasoned enthusiasts in their 70s, Whatnot appeals to a wide demographic range.
In conclusion, Whatnot has revolutionized the collectibles industry, merging the thrill of live-streaming with the enduring charm of baseball cards. Through its innovative approach and unwavering commitment to customer satisfaction, Whatnot has solidified its position as a leader in the ever-evolving world of collectibles.
