Date of launch
Dec 2011
Global footprint
12 countries to date: US, UK, Ireland, Canada, New Zealand, Australia, South Africa, Mexico, Spain, Austria, Germany and France.
Marketplace overview
Tophatter is a pioneer in the mobile discovery shopping category. Shoppers compete in fleeting, 90-second auctions to ‘win’ deals at prices up to 80% off the listed price on categories such as jewellery, electronics, beauty and fashion. With more than 12 million users around the world, the company says it is on track to grow over 100% in 2017, selling on average $1M of product a day.
5 most popular product categories
Jewellery, Electronics, Beauty, Apparel and Fashion Brands
Total number of products listed
1 million+
Verified audience size (inc. data source)
Tophatter claims to have 12 million users a month
Total number of global vendors
5,000+
Model/fee-structure
There are no monthly charges or setup fees. Sellers pay only when an item sells.
- Commission of 10% on ‘buy now’ items
- Commission of 10-30% on items sold in auction (depends on category) plus a ‘Success Fee’ of $0.50 on each item sold
- Processing fee for processing each paid order of 2.9% + $0.30 per transaction. It is comparable to PayPal processing fees
Options to receive payments from marketplace
Paypal, bank account, WorldFirst’s World Account
USP
Tophatter says it’s USP is a focus on “discovery” shopping. Many marketplaces, like Amazon, optimise a search-driven experience where shoppers come to buy a specific item whereas Tophatter offers the opportunity to “window shop” for items they might not know they wanted or needed.
On Tophatter, the user experience is closer to an Instagram feed, where there are approximately 100 products being auctioned at any given time. Each auction is fast – about 90 seconds – creating the fun and engagement of a mobile game.
3 things you didn’t know about the marketplace
- The firm says that ‘top sellers’ exceed $5 – $10 million in annual sales on Tophatter
- The firm also says that ‘top sellers’ can reach $100k per month in sales within 6 months
- On average, two million items sell on Tophatter each month
For more information, visit: https://tophatter.com/