The world is becoming more friendly to e commerce and now at present, almost everything can be sold online using several websites. There are dozens of online retailer available out there to choose your desired product and receive it at your home within few days if ordering. The transactions are so smooth and reliable and that you don’t have to leave your couch to choose and receive your desired product.
All that is fine with old and trusted retailer like for example eBay and Amazon, but when it comes to other online retailers whom we’ve never heard about, it gives you a second thought about safety.
Same goes with the retailer Bonanza which seem almost similar to eBay. But people don’t trust Bonanza more often like eBay. So today we’re going discuss in detail that what is Bonanza and is it safe to shop from it.
What is Bonanza.com?
Let’s understand that what is Bonanza.com and how it operates. Bonanza is an online marketplace is which headquartered in Seattle, Washington. Its operations and business model seems similar to eBay, though eBay has a much larger presence than Bonanza still Bonanza confirmed that currently, it has fifteen million items on sale listed by more than 30,000 different sellers.
Bonanza has wide range of listed producer and Bonanza is said to always active, and it’s been compared to eBay. On being compared with eBay, Bonanza states that they’re different from eBay and prides itself on having huge collection of rare and listed items and for the most part it feels true because eBay has now become more like online auction site than an online retailer.
The company was founded on 2007 by the name Bonanzle, and it was later named Bonanza in 2010. The list of product categories also long and impressive. It categories includes Health and beauty products, home goods, garden goods, sports equipment, DVDs, books, Men, Women, antiques, paper money, collectibles, toys, jewelry watches, memorabilia, art, etc.
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Protection for Buyers and sellers on Bonanza –
Apparently, as a website Bonanza should be bothered to protect the transactions. But as the selling pages of Bonanza is concerned they don’t provide such kind of a piece of advice to any of its sellers. The protection is all dependent on the mode of payment from where the payment is made. Which are Amazon and PayPal most of the time. On the other hand, eBay’s collaboration with its subsidiary PayPal ensures smooth and hassle-free transactions.
Now, if we turn out attention to some number, then we’ll found that those numbers are also quite surprising. The ratio of buyers to sellers is Bonanza is thirteen thousand to one, and in eBay, it is just ten to one. The profitability margins on Bonanza are nor than any of its competitors, and it doesn’t even charge anything from the seller to list their products online. Bonanza charges just 3.5 % commission per sale, and the commission margin of eBay is more than that. One more thing that gives bonanza an edge over eBay and that is the listing pages for sellers which is comparatively very easy to use. Bonanza creates an environment on its website which is more is more attractive for sellers.
Still, it feels that security may be a concern for seller and buyers on Bonanza. As I told you that transaction support is at all provided by Bonanza on fraudulent transactions. But from last few users Bonanza has a great job in tracking down seller with fraudulent transactions and based reputation and banning them and their listings from the website. Interestingly, the site has 98.2 % satisfaction rate.
Whenever a dispute over a transaction occurs between any buyers and sellers, Bonanza ultimately contacts both of them to sort out the issue, but the problem is that they don’t guide any of them to how to do that. Yeah, this is for sure that they will provide a team support if you have been a victim a fraudulent transaction. And most of the time you can also contact the payment partners like Amazon and PayPal because they also have a robust security system. Bonanza provides links related to Amazon and PayPal customer support and guidance, but they don’t do much themselves.
Is Bonanza safe?
With such big seller base, a wide range of products and an A+ rating with the Better business Bureau Bonanza can’t be considered a scam at all. The average consumer rating is 8.4 out of 10. So, we can say that Bonanza is safe, secure for buying and selling stuff without any hassle, as there are many repeated seller associated with the website.
Moreover, I would say that as a customer you should be aware that what you should be purchasing from which seller. You should do all the homework and research about the seller before buying or negotiating anything. Reading their feedback and the previous transaction would be the best research you can do before doing nay transaction. And don’t even trust every feedback and reviews about the seller because some buyers put negative reviews purposely for a variety of reasons.
At last, I conclude that that Bonanza is a safe and legit website to shop and sell your products. With a bit of awareness, you find best deals. Freely transact on Bonanza without any second thought.
Final Words –
At the end, I will say that the conclusion is the same what I told you earlier. Just you have to keep in mind that before doing any transaction you have to research and gather some knowledge about the seller for smoother experience. If you follow the instructions properly, then you won’t face any problem in your transaction, and good relations with the seller can also help you in getting a better deal in future.