The allure of baseball cards has taken on a new shine in the digital age, with Whatnot leading the charge in live-stream shopping for collectibles. Armand Wilson, the brain behind the scenes as Vice President of Categories & Expansion at Whatnot, shares that the platform is riding high on the wave of sports card collecting, with a card finding a new home every single second on the platform.
Whatnot, known as the largest live-stream shopping network in both North America and Europe, has seen a meteoric rise thanks to the resurgence of sports card collecting. Wilson notes that baseball cards are one of the standout categories on the platform, with the sale of cards being a massive driver of Whatnot’s success. This success has been mirrored by the sellers on the site, with over $2 billion in live sales being generated in just the first nine months of 2024, and with more than 500 sellers raking in over $1 million each. Some successful sellers have even turned to the platform full time, bidding farewell to their traditional jobs in favor of a lucrative career with Whatnot.
Founded in 2019, Whatnot initially started with a focus on Funko Pops before expanding its horizons to include various categories, among which sports cards have stood out. Wilson explains that the company was born out of a need to address the prevalent fraud in the collectibles online market, and the expansion into sports cards has been a seamless transition. On average, buyers on Whatnot indulge in collecting a dozen items per week, showcasing the platform’s popularity among collectors.
A pivotal moment for Whatnot has been its participation in “The National,” a significant midsummer collectibles show. The platform recreated the buzz and excitement of the convention floor on its app, drawing in thousands of sellers for live showcases of their inventory. This innovative approach allowed buyers and sellers to engage in a dynamic manner, cementing Whatnot’s unique position in the market. Wilson emphasizes how showcasing the power of their app by uniting numerous sellers in one place was a game-changer for the company.
Although Whatnot charges an 8% commission on every sale, sellers have reported significantly higher sales volumes compared to other marketplaces. Wilson highlights that sellers on Whatnot experience double the sales they would elsewhere, attributing this success to the platform’s unwavering focus on enhancing user experiences for both buyers and sellers. By prioritizing providing a top-notch experience, Whatnot stays ahead of the competition by catering to the needs of its users.
The growth trajectory of Whatnot has been awe-inspiring, with the company witnessing a monumental shift from less than 10 employees when Wilson first joined to nearly 700 employees today. The amalgamation of cards and online shopping has been a winning formula for the platform, propelling it to unprecedented success. The heartwarming success stories of sellers like Geoff Wilson and Dakota Peters serve as beacons of the platform’s potential, showcasing the tremendous opportunities Whatnot affords to entrepreneurs in the collectibles space.
Whatnot places a premium on fostering trust between buyers and sellers, with sellers building their reputations through maintaining high standards and promptly addressing customer concerns. Wilson stresses the importance of trust-building on the platform, asserting that sellers cultivate and uphold trust to foster growth and success on Whatnot.
Hailing from Culver City, California, with hubs spanning across North America and Europe, Whatnot has firmly established itself as a global force to reckon with. The platform hosts a staggering 175,000 hours of live streams weekly, a figure that dwarfs traditional shopping networks like QVC by a whopping 800 times. Sellers on Whatnot achieve nine times more sales than on other marketplaces, testament to the platform’s efficacy in driving sales and engagement. With buyers spending an average of 80 minutes daily immersed in live streams, Whatnot has seamlessly woven itself into the fabric of the collectibles market.
The popular practice of card-breaking, which involves a group collectively opening packs of cards, has emerged as one of the standout features on Whatnot. Wilson raves about the excitement of these sessions, emphasizing how they cultivate a sense of community and engagement among collectors. The fast-paced auctions, some lasting as short as a minute, keep users glued to the platform, eager for more thrills and discoveries.
For many collectors, Whatnot transcends being a mere marketplace; it serves as a hub for social interactions and immersive experiences. Sellers actively engage with buyers in real-time, personalizing interactions by addressing buyers by name and tailoring content to their interests. This personalized touch has been instrumental in Whatnot’s ability to build a diverse and loyal following, attracting collectors from various age groups and backgrounds. Wilson humorously notes that even his 79-year-old father is a part of the Whatnot community, underlining the platform’s broad appeal.
As Whatnot charts a path towards further expansion and innovation, it’s evident that the platform has redefined the landscape of collectible buying and selling. By merging the thrill of live-streaming with the enduring charm of baseball cards, Whatnot has etched a prominent place for itself as a leader in the flourishing collectibles industry.
