The surge in popularity of baseball cards has proven to be a significant catalyst for the unprecedented success of Whatnot, the largest live-stream shopping network in North America and Europe. Armand Wilson, VP of Categories & Expansion at Whatnot, attributes the platform’s thriving status to the resurgence of sports card collecting, with a card being sold every second on the site.
Wilson emphasized that baseball cards are among the most significant categories on the platform, further solidifying its position as a powerhouse in the market. In the first nine months of 2024 alone, sellers on Whatnot managed to generate an impressive $2 billion in live sales, with over 500 individuals earning more than $1 million through the platform. Some sellers have even transitioned to full-time commitment on the site, bidding farewell to their traditional jobs.
Founded in 2019 with an initial focus on Funko Pops, Whatnot later broadened its horizons to include various categories, including sports cards. Wilson explained that the platform’s primary goal was to address the buyer pain points related to purchasing collectibles online, especially amidst prevalent market fraud. The shift to incorporating cards into the platform was a natural progression, with the average buyer collecting a notable 12 items per week.
Whatnot’s pivotal moment came with its participation in “The National,” a renowned midsummer collectibles show. By replicating the convention floor on its app, Whatnot attracted thousands of sellers to showcase their live inventory. This innovative approach facilitated dynamic connections between buyers and sellers, enhancing Whatnot’s standing in the market significantly.
With an 8% commission on each sale, Whatnot manages to outperform other marketplaces in terms of sales volume, as sellers report selling twice as much on the platform. This success is attributed to the platform’s relentless focus on enhancing the user experience for both buyers and sellers, aiming to provide a superior buying and selling environment.
The platform’s growth has been exponential, with the workforce expanding from fewer than ten employees to nearly 700 within just a few years. Baseball cards have played a vital role in propelling this growth, with Wilson highlighting the perfect combination of cards and online shopping that sports cards offer.
Success stories from sellers further accentuate the platform’s potential, with individuals like Geoff Wilson from Cards HQ and young entrepreneur Dakota Peters showcasing remarkable sales figures and business growth on Whatnot. Whatnot places a premium on establishing trust between buyers and sellers, with sellers earning and maintaining trust by upholding high standards and promptly addressing customer concerns.
Headquartered in Culver City, California, with multiple hubs across North America and Europe, Whatnot has rapidly solidified its position as a global powerhouse. The platform hosts an impressive 175,000 hours of live streams weekly—800 times more than QVC—while sellers achieve nine times more sales than on other marketplaces. Users spend an average of 80 minutes daily engaging with live streams.
One of the standout features on Whatnot is card-breaking, a popular practice that involves opening packs of cards within a group setting. The excitement and sense of community fostered by this activity have resonated well with collectors, contributing to increased engagement on the platform. The fast-paced nature of auctions, some lasting just a minute, keeps users captivated and eager for more.
Beyond being a marketplace, Whatnot has evolved into a social and interactive experience for collectors. Sellers actively engage with buyers, addressing them by name and catering to their specific interests, fostering a personal connection that has cultivated a dedicated and diverse audience.
As Whatnot continues its expansion, it’s evident that the platform has redefined the landscape for buying and selling collectibles. By blending the thrill of live-stream shopping with the enduring appeal of baseball cards, Whatnot has positioned itself as a trailblazer in the burgeoning collectibles market.
