The world of collectibles has found a new home in the digital realm with Whatnot leading the charge. Specializing in live-stream shopping, Whatnot has become a prominent platform for buying and selling various items, with baseball cards taking center stage in its success story.
Armand Wilson, the VP of Categories & Expansion at Whatnot, sheds light on the platform’s thriving business fueled by the resurgence of sports card collecting. Whatnot has capitalized on the nostalgia and allure of baseball cards, with a card being sold on the site every second. The platform has quickly become a juggernaut in the industry, generating an impressive $2 billion in live sales in just nine months.
Originally starting in 2019 with a focus on Funko Pops, Whatnot expanded its offerings to include sports cards, catering to the evolving needs of collectors. The platform aimed to address the challenges of online collectible purchasing, particularly the prevalence of fraud in the market at the time of its inception. Whatnot’s seamless transition into the world of sports cards has resonated well with buyers, with the average collector buying 12 items weekly.
A significant milestone for Whatnot was its involvement in “The National,” a renowned collectibles show. By virtually recreating the convention floor on its app, Whatnot successfully brought together thousands of sellers to showcase their inventory live. This innovative approach not only fostered dynamic interactions between buyers and sellers but also showcased the platform’s capabilities.
Despite charging an 8% commission on sales, Whatnot has managed to outperform other marketplaces in terms of sales volume. Sellers on the platform reportedly sell twice as much as they do on other platforms, underscoring the value and efficiency of Whatnot’s model. Wilson emphasizes the platform’s dedication to offering a superior user experience, prioritizing customer satisfaction above all else.
With a growing team that has expanded from fewer than 10 employees to nearly 700, Whatnot’s success is undeniable. The platform’s success stories paint a vivid picture of its impact, with sellers like Geoff Wilson and Dakota Peters achieving remarkable milestones in their sales through Whatnot.
Trust is a core pillar of Whatnot’s philosophy, with sellers entrusted to uphold high standards and promptly address any customer concerns. Without directly authenticating products, Whatnot relies on its sellers’ credibility and reputation to instill confidence in buyers.
Based in Culver City, California, with a global presence in North America and Europe, Whatnot has cemented its status as a powerhouse in the collectibles industry. Boasting an array of live streams totaling 175,000 hours weekly, Whatnot’s engagement levels rival those of established platforms like QVC. The platform’s emphasis on community-building, exemplified by features like card-breaking, has fostered a sense of camaraderie and excitement among collectors.
Whatnot’s success can be attributed to its ability to offer more than just a marketplace— it provides a social and interactive space for collectors to engage with sellers in real-time. This personal touch has fostered a diverse and loyal audience, ranging from young enthusiasts to seasoned collectors. Whatnot has successfully married the thrill of live-streaming with the enduring charm of baseball cards, solidifying its position as a trailblazer in the collectibles market.
