The world of collectibles is getting a high-tech makeover, and Whatnot is leading the charge with its innovative approach to live-stream shopping. This dynamic platform has become a staple for baseball card enthusiasts and collectors of all kinds, creating a buzz in the industry with its unique blend of entertainment and commerce.
Armand Wilson, the Vice President of Categories & Expansion at Whatnot, sheds light on the platform’s success, which has been fueled by the resurgence of sports card collecting. Whatnot boasts a staggering rate of one baseball card sold every second on its site, highlighting the immense popularity of this category among users. In fact, the platform has seen sellers rake in a whopping $2 billion in live sales within just the first nine months of 2024, with over 500 sellers hitting the million-dollar mark.
Since its inception in 2019, Whatnot has evolved from a focus on Funko Pops to a diverse range of categories, including sports cards. Wilson explains that the initial goal was to address the challenges buyers faced when purchasing collectibles online, such as fraud. This expansion into cards has been seamless, with the average buyer collecting an impressive 12 items per week, showcasing the platform’s strong appeal to avid collectors.
A pivotal moment for Whatnot was its participation in “The National,” a prominent midsummer collectibles show. By replicating the convention floor on its app, the platform enabled thousands of sellers to showcase their inventory through live streams, offering buyers a dynamic and engaging shopping experience. This innovative approach not only showcased the platform’s capabilities but also cemented Whatnot’s standing in the market.
Despite charging an 8% commission on sales, Whatnot has proven to be a lucrative platform for sellers, with reports indicating significantly higher sales volumes compared to other marketplaces. Wilson attributes this success to the platform’s unwavering focus on providing an exceptional user experience for both buyers and sellers, emphasizing their commitment to user satisfaction over competition.
The exponential growth of Whatnot is evident, with the company expanding from fewer than 10 employees to nearly 700 today. Baseball cards have played a pivotal role in this growth, with Wilson noting that the combination of cards and online shopping presents a perfect product offering. Success stories from sellers like Geoff Wilson and Dakota Peters highlight the platform’s potential to transform hobbyists into full-fledged businesses, propelling their sales and reach.
Trust is a cornerstone of Whatnot’s operations, as sellers are encouraged to build and maintain trustworthy reputations by upholding high standards and promptly addressing customer concerns. Despite not directly authenticating products, the platform’s emphasis on seller integrity fosters a collaborative and secure environment for buyers and sellers alike.
Headquartered in Culver City, California, Whatnot has established itself as a global powerhouse with a strong presence across North America and Europe. Hosting a staggering 175,000 hours of live streams weekly—800 times more than QVC—the platform boasts nine times more sales for sellers compared to other marketplaces. With buyers spending an average of 80 minutes daily watching live streams, Whatnot has successfully captured the attention and loyalty of a diverse audience.
One of Whatnot’s standout features is card-breaking, a fan-favorite practice that involves opening packs of cards in a group setting. This interactive experience fosters community engagement and excitement among collectors, with fast-paced auctions keeping users intrigued and coming back for more. Sellers’ personalized interactions with buyers further enhance the social aspect of Whatnot, creating a vibrant and inclusive space for collectors of all ages.
As Whatnot continues to expand its influence and redefine the collectibles market, its winning formula of live-streaming paired with the enduring charm of baseball cards solidifies its status as an industry leader. By offering a seamless and engaging platform for buying and selling collectibles, Whatnot has successfully tapped into the pulse of modern-day collectors, setting a new standard for the industry.
