Relentless Simplicity - The Bonanza Blog

Welcome to the Bonanza Blog! Find all the latest news about our online marketplace, with information about getting the most out of selling online and effectively managing your online shop.

Ecommerce in 2019 and Beyond

image of shopping mall decorated for winter holidays

Have you heard of Narvar? They help retailers around the world (think Sephora, Patagonia, Home Depot, and LVMH, among many others) improve their ecommerce business. These well-known retailers represent many of the popular brands that people are buying online, and the data that Narvar gathers and reviews for them can often be indicative of the current state of ecommerce.

Luckily for ecommerce sellers everywhere, Narvar periodically shares this data in reports. Earlier in 2019 they released their “Magical Moments Report”. This report surveys 650+ retailers and 350+ carriers across 9 retail categories and 38 countries regarding online shopping behaviour and customer expectations in 2019. It also recommends ways that ecommerce sellers can apply this knowledge to increase customer satisfaction, build repeat business, and sustain loyalty. 

With the New Year right around the corner and the holiday rush (mostly) behind us, now is a great time to reflect on these findings and consider how you might apply them to your business in 2020. Narvar’s report is 70 pages long, however, and you probably have holiday visitors causing a ruckus in the living room. So, we’ve done the hard work for you and summarized key points below. 

We’ll also... (continued)


Bonanza Dogfood

image of dog in helmet riding skateboard

Dogfood: it’s what’s for dinner

Hello, Bonanzlers! I hope you’ve been enjoying the 2019 Holiday Season. As we approach the end-of-year survey season (keep a lookout for our seller survey coming soon!) I wanted to share some information about how Bonanza handles feedback.

The most common way we receive feedback from users is through the feature request form. The feature request inbox is monitored daily for new submissions from your brilliant minds. The submissions are then shared with the product team, and we do our best to map suggestions to our quarterly initiatives. Occasionally, feedback comes to our support team as part of a help request, and we also hold a Product Office Hour on Wednesdays for all sellers that are eligible for chat support.

Other methods for feedback and improvement

Internally, we use a process called dogfooding — and we’re not talking about kibble for your pup. In this context, dogfood refers to “an employee’s use of a product or service developed by their company to test it for customers.” The term originated in the 1970s, with widespread adoption within the tech community taking place in the late 80s (starting at one of our neighboring Seattle tech companies, Microsoft!).

... (continued)


Small Business Saturday is here!

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Hooray! It's Small Business Saturday

We are so excited to celebrate this day with you. As a small business supporting small businesses, this day means a lot to us. Our entire company was built upon the foundation of providing a place for small businesses to sell their products online. Thanks for being a part of this community — it means more to us than you'll ever know! Bonanza is proud to support so many amazing businesses. 

Speaking of businesses, did you know that only 36% of businesses are women-owned? Of those, almost all (99.8%) are classified as small businesses. To celebrate this entrepreneurship, we caught up with a few of our most established female sellers for a special Small Business Saturday spotlight.

EmpressDepot

Sharon’s 17-year history of selling online all started with a passion for thrifting. Before her online days, Sharon had a brick-and-mortar thrift store. In her store, she allowed for bartering, which led to a lot of eBay sellers coming into the store to try and find inventory they could sell online. Sharon was confident that she could take her store to the internet — it was something she loved doing, and she’d always had a knack for... (continued)


Top Selling Categories for the Holidays

Illustration with festive holiday gifts

It’s always the same: every year after Halloween is over, we’re hit with a feeling of surprise. It’s already November?! Black Friday is 2 weeks away?! It’s probably a matter of mere hours until you see a Christmas tree on sale in town.

Ready or not, the holiday shopping season is upon us once again. This means it’s also time to review something that changes every year: holiday shopping trends. Being ‘in the know’ about these not only helps your business maximize returns this year – it also helps you prepare for the next.

After much analysis and hot chocolate, we’d like to share last holiday season’s top 5 searches on Google Shopping and compare our projections for this holiday season’s top selling categories on Bonanza to last season’s results.

We’ll also share the average FVF rate used by successful sellers in those top selling category projections so that you can make similar adjustments in your Bonanza Broadcaster and maximize your advertising efforts on Bonanza during the holidays.

Last holiday season's top 5 searches on Google Shopping

Illustration with Bonanza and Google Shopping logos

Many shoppers find items online by Googling an item’s name and/or clicking on an ad generated by Google Shopping, which makes Google Shopping... (continued)


Using Color to Build an E-commerce Brand with Instagram

This guest blog was written by a representative from Instasize.

If you are looking to start an e-commerce business, there is no better time to start than right now. It has been estimated that in 2019, there will be 1.92 billion digital buyers worldwide, and that number is projected to keep growing every year.  

Even social media is adapting to meet the growing demand. Facebook, Pinterest, and Instagram, for example, have evolved to help brands reach new audiences and sell products and services through content marketing. Instagram alone reportedly has as many as 25 million business profiles on its platform, with 200 million app users visiting at least one brand page a day.

Example of Instagram poll branding Example of Instagram discount branding Example of hashtags in Instagram stories

But what makes content marketing on Instagram so useful for online businesses? First would be the large audience it attracts: to date, the platform has more than 500 million active users browsing through feeds and liking posts every single day.

Second would be the nature of the platform itself. Compared to other social media, Instagram is all about visuals above everything else — making it the perfect platform to create an online catalogue for your e-commerce site. Browsing through brand pages and scrolling through content... (continued)


Advertising Fees and Top Categories

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Hello, and Happy Monday! As our team is hard at work on backend projects related to taxes and payments, I’m going to share some information that is good to keep in mind as we start to plan for Halloween (and soon, the Holidays!). As mentioned in last week's blog, I'm here to give you a refresher in how Bonanza's Advertising program works. 

Bonanza’s Broadcaster Fees

When you opt-in to Bonanza’s advertising program, you decide how you much you want to pay and we cover the advertising costs until your item sells. Higher advertising levels unlock access to additional shopping channels. They also include a higher ad spend to drive more buyer traffic to your listings.

Graphic comparing Bonanza advertising levels

We offer four advertising levels:

  • Basic (9% fee) — Access to Google Shopping’s powerful shopping engine, our network of affiliate bloggers, and Bonanza Promotions.
  • Standard (13% fee) — All the channels of Basic, plus publishing to eBay.
  • Superior (19% fee) — All the channels of Standard, plus BingAds.
  • Elite (30% fee) — All the channels of Superior, plus an even higher ad spend.

How much will I pay once my item sells?

When you sell an item, you'll pay up tothe max fee... (continued)


Extending Stripe to All Sellers

Blog header image with stylized Stripe logo

Stripe will soon be available to all

A leopard might not be able to change its spots, but soon we’ll be changing our stripes. You asked and we listened — we’re offering Stripe as a payment processor to all sellers! This has been long requested by our community, and we are excited to make this dream a reality.

Initially, we launched Stripe to paying members only. This was to ensure that the Stripe’s technology worked seamlessly with Bonanza’s technology and minimize the number of sellers affected by bugs or kinks. Additionally, Bonanza absorbs the integration costs of each seller, so we wanted to be sure that Stripe was truly an added benefit to sellers.

When will this change go into effect?

We plan on launching Stripe to all by the end of September. Be on the lookout for more information about the official launch date — rest assured, we’ll let all sellers know once Stripe is officially available to all. We thank you for your patience as we work hard to integrate Stripe for all sellers.

How much will this cost me?

There are no additional fees from Bonanza, aside from the final value fees you’re familiar with, which will... (continued)


11th Anniversary Recap

blog header image of party flags spelling 11 years

Anniversary Week has come to a close, and as much as we love to celebrate with you, we also love to look ahead to the future and the many projects we're working on. Stay tuned in the next couple of weeks for the second quarter blog update.

Thank you to everyone who used the Anniversary Coupon template through the Customer Marketing Tool! We loved seeing all of your items. Our staff created several curated Hand-Picked Lists using items from many lucky sellers who sent out anniversary coupons. Here are some of our faves:

link images of handmade soaps

link image of a rug a woven wall hanging square decorative pillows and a hanging plant holder

link images of blue gem earings with diamond trim a leather handbag colorful lipgloss aquamarine necklace and gray gem bracelet

Want to see even more items from anniversary winners?

Check them out: Let's Get Crafty | Plush Love | Shades and Sunnies | Clutches

Anniversary Contest Winners

This Anniversary, we ran a contest with ten $100 gift cards to Bonanza as the prizes. Please join me in congratulating our contest winners!

  • Vaibhav V.
  • David E.
  • Michael W.
  • Jennifer D.
  • Allan H.
  • Simon S.
  • Tom A.
  • Stacey P.
  • Martin R.
  • Monica M.

We also had a seller-focused giveaway this year. Noissue generously donated three prize packages to sellers who purchased a new membership or upgraded their current membership during Anniversary Week. In case you missed it,noissue... (continued)


Bonanza Turns 11! Happy Anniversary Week

image of party flags spelling 11 years

It’s already that time again — Anniversary Week has arrived! It feels like just yesterday we were celebrating last year’s 10th anniversary. We’re so excited to show our appreciation for the Bonanza community. Whether you’ve been with us since the beginning or are just starting out, I’d like to extend a wholehearted THANK YOU from all of us at Bonanza HQ.

your the best

$100 Gift Card Contest

This year, we’ve got tons of fun contests and giveaways lined up for Anniversary Week. First of all, we’re running a contest for all Bonanza buyers and sellers for the chance to win a $100 Bonanza gift card! It's super easy to enter – you can do that here.

We're also offering a special contest entry for our blog readers! 

Comment on this blog with one word to describe your favorite thing about Bonanza and we'll give you a bonus entry into the gift card contest. Here's some motivation to share a word: 

BonanzaGrace's One Word

My favorite word to describe Bonanza is INTENTIONAL. Here at Bonanza HQ, we work hard every day to build a site that makes ecommerce entrepreneurship accessible to all. We put effort and thought into building a company that serves... (continued)


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