Bonanza CEO Shares Aspirational Plans For 2024

Liz Morton
Liz Morton


Bonanza CEO Quincy Faison says he has big plans for 2024 but his aspirational video and company blog post are very light on details about Bonanza's future.

Unveiling the Future: Bonanza’s Exciting Plans for 2024!
Shop for everything but the ordinary. More than 25,000 sellers offering you a vibrant collection of fashion, collectibles, home decor, and more.

The Bonanza team has a deep appreciation for our sellers. Thank you for working with us to make Bonanza what it is today and helping provide a strong vision for the future. Your support has been invaluable; we recognize that we wouldn't have reached this point without you. And we have big, exciting plans for 2024!

Click on the play button below for a special message from Bonanza's CEO, Quincy Faison!

Our team understands that to thrive in the competitive e-commerce landscape, sellers need access to cutting-edge tools that can help them streamline their operations and reach more customers. This is one of the many reasons for our recent launch of Vercado, by Bonanza. Our webstore builder is packed with all the essential tools so you can build out your business and brand.

For example:

  • Ability to open multiple webstores under one Vercado account
  • Fully integrated accounting software (goodbye Quickbooks!)
  • Cross-platform inventory management

This is just the beginning. Bonanza refuses to remain stagnant, making it an exciting time to be part of the Bonanza community!

With a commitment to sales growth and enhancing the user experience, Bonanza is poised to take the e-commerce industry by storm in 2024.

Thank you for coming along on this journey, we’re so glad you’re here!

Vercado webstores by Bonanza were launched last month, and while some sellers may find this new offering useful to help their business grow in 2024.

But at $99/month it's decidedly aimed at larger sellers and if they can afford that price, why wouldn't they already be building their own direct stores on Shopify or BigCommerce for $39/month?

Bonanza Launches Vercado Webstores & Business Hub
Vercado by Bonanza offers online sellers a webstore builder & all in one business hub - but is it worth the price?

In the short video presentation, Faison also mentioned the Diamond membership tier, which launched in September 2023, providing new features to help sellers manage their businesses and drive traffic to their listings through advertising.

Bonanza Teases Diamond Membership With New Features For Sellers
Bonanza is teasing a new Diamond membership including new features to help sellers manage complete ecommerce businesses.

He also touched on recent changes to Bonzanza's shipping solutions, saying the have "evolved, not only to save you money, but also to streamline the entire process for a smoother experience" - completely glossing over the absolutely disastrous roll out of new shipping policies in November as well as his and Bonanza's even more disastrous response to seller pushback about the controversial changes.

Bonanza Forges Ahead With Controversial Shipping Program
Bonanza is forging ahead with controversial shipping program requiring sellers to purchase labels from the site or pay $2 fee.

Contrary to Faison's statement, many sellers say the new program neither saves them money nor is it more streamlined or convenient - but many of those complaints were blocked when Bonanza shut down commenting on the blog posts about the new program and began carefully censoring comments going forward - only allow certain ones to be posted publicly.

It does appear they've allowed at least some critical comments on this post about their plans for 2024, but there's no way to know how many didn't make it through.

The comments that are posted called out concerns about persistently low traffic and sales as an issue they hope are addressed this year.

i was hoping you were gonna say you would advertise Bonanza more until that happens this site is still unknown!!!

Having been a Bonanza user since before it was Bonanza I have seen the ups and downs of this site, however, if we could actually get traffic to our booths I think that would be an amazing and extremely important step toward success. Bonanza is a great site but if no one knows we exist then it is all for nothing.

As an established seller on other platforms (Etsy specifically), the Bonanza listing platform I find is much better, with exception to the 15 second product video option available on Etsy.

My biggest concern and what Bonanza really needs to focus on is customer traffic. Bonanza’s traffic is far below that of Etsy and Ebay. I routinely direct all other platform sales (Etsy, Ebay and Amazon) to Bonanza, but with little to no conversion, which I still can’t wrap my head around since my Bonanza listings in addition to offering more targeted products are also discounted.?

I hope this will bring more traffic but can you explain how it would bring more traffic to Bonanza or am I misunderstanding and this will not help to bring more traffic to Bonanza….

They also expressed ongoing discontent with the shipping program.

how much is this going to cost us…?

the last time you said “we love our sellers” you forced us to either pay a Credit Card Processing Fee to print off a shipping label or a $2.00 mandatory shipping fee if we didn’t print the label in order to ship an item.

now this…

here’s an idea: stop

We just don’t want to be forced to use your labels. Your rates are not lower than other platforms and your shipping label platform takes me 3-4x longer to click through than anywhere else. I refuse to have a fund set up with you, no other site charges extra to not have a fund. You do. It’s an awful decision on your part. Literally, let us print shipping where we choose and import a tracking number without the $2 fee. It’s not difficult.

Unfortunately, like many of the announcements that have been made since Faison took over ownership of the platform last year, the messaging falls flat without real details to back it up.

The lack of transparency and specific details about Bonanza's future plans are not winning any points with sellers and they does not seem to be doing much to significantly increase the amount of buyers either.

It's going to take more than aspirational buzzword-laden videos and blog posts to change the current reality of low traffic and sales and strained seller relations - and I truly hope Faison and the rest of the Bonanza crew will take that message to heart as they move forward into a new year.


Liz Morton Twitter Facebook LinkedIn

Liz Morton is a seasoned ecommerce pro with 17 years of online marketplace sales experience, providing commentary, analysis & news about eBay, Etsy, Amazon, Shopify & more at Value Added Resource!

Never Miss A Headline!