Skip to content

Bonanza Review: Is it Legit? (Updated 2022)

Bonanza is a marketplace for both sellers and buyers in the US and internationally. There are many product listings on the platform, and you can’t miss finding a suitable item for you.

About Bonanza

Bonanza overview

Bonanza is a popular marketplace for entrepreneurs who want to expand their market scope and business. It is an easy-to-use platform, and as an entrepreneur, you won't have to deal with any technical aspects. The platform continuously provides the best experience to the buyers and sellers.

The various integrated tools make it easy for online selling. It features multi-product editing functions, customized marketing campaigns, a website, and automotive inventory imported from eBay, Amazon, and Shopify.

As a seller, you won’t have to pay for any listing, monthly or hidden fees. Bonanza allows the sellers to make sales and also develop relationships with customers – relationship marketing. Additionally, Bonanza allows you to promote your products on different platforms to increase your market range.

Is Bonanza legit?

Yes, Bonanza is legit. However, the platform has both legit and illegal sellers. Therefore, it is recommended that you buy from sellers with the “top-rated seller” logo. Also, always check the reviews before making any purchases. This can give you an insight into the type of product to expect.

The products are categorized strategically to make it easier to shop for anything. It has different product categories for women, men, home, beauty, collectibles, handbags, jewelry, coupons, and more.

The checkout system is also secure to ensure there is no third party that can bypass your transaction. It is actually like an eBay alternative and works similarly the same. Not only will you get manufactured items on the platform, but also handcrafted items. Bonanza also allows product import from one online store to it.

Bonanza's Statistics

According to Bonanza, they get more than 5 million visits each month. This equates to about 150,000 visits a day. Therefore, as a seller, you can be assured that there is a large buyer base who can stumble upon your products. Try to make your products appealing.

Also, deliver the item on time to get good genuine reviews from buyers. However, you can consider promoting your products in different markets to increase the chance of product purchase. Sellers on Bonanza come from over 200 countries in the world.

Therefore, as a seller, strive to stand out from the competition and use relevant keywords in your product description to make it easier to find.

Advantages of Bonanza
  • Bonanza has a wide variety of products.
  • The seller fees are lower than eBay
  • It has a perfect Business Bureau rating.
  • Possibility to make bids on items.
  • Secure checkout system.
  • Simple web store setup.
  • It connects buyers and sellers worldwide.
  • Free listing.
Disadvantages of Bonanza
  • Risk of scams and fraudulent activity.
  • Many sellers have no reviews on a bonanza.
  • The pricing system is confusing.
  • Returns can vary per seller.
  • Requires thorough research to stand out from your competitors.
  • It has a lengthy refund process and some after fees.
  • Poor customer service.

Tips for Using Bonanza

Here are some tips that you can use to be successful on Bonanza:

1. Set up a Good Web Store

It is easy to set up a store on Bonanza.

Step 1: You need to click the “Sell on Bonanza” button.

Step 2: Choose a name for your store booth, and you will be redirected to the store panel.

Step 3: Click the “open your booth” button.

Step 4: Choose a flexible payment method, and provide personal and credit card information for payment purposes.

Step 5: Decide whether you want your products to be promoted elsewhere. In addition, you can sign up for any membership of your choice.

2. Utilize the Site Features Well

Utilize the Site Features Well

On Bonanza, it is easy to use the site features:

  • First, use the product import feature to import your existing listings from other platforms to your Bonanza seller’s account. It will take a short while.
  • There is also the eBay feedback importer that tends to analyze your eBay account and assigns a rank based on the last 1000 pages of user reviews. The eBay credibility will be shown in your Bonanza account to increase customer trust in your products.
  • You can choose for your Bonanza listing to be showcased on Google Shopping ads for a fee. This will make it more visible.
  • You can also consider paid traffic in the Bonanza listings like Bonanza shoppers, bonanza Affiliate partners, eBay customers, and Bing users. This increases the visibility of your products.
  • Use the Bonanza chat. There is a built-in chat that allows buyers and sellers to talk and resolve any issues. This makes it easier for them to form an agreement.
  • Also, consider having high-quality images to increase your chance of attracting the right

3. Diversify your Selling

Even if you are selling on Bonanza, you can consider promoting your products on other online selling platforms.  Selling on multiple platforms will increase product visibility and promote your brand. You can also consider using strategic ads or social media pages to promote your products and increase sales.

4. Provide Discounts

You can provide freebies for certain items—for example, a skincare lotion with soap. You can also provide coupons to provide certain discounts on items or shipping. This will make your sales improve.

How About Bonanza’s Shipping

The shipping cost is chosen by the seller. As a buyer, always check the shipping costs and timeline for getting the purchase. A tracking number will be added to the order, and the right product should reach the buyer in the specified time.

There is a procedure that needs to be followed. The shipping process is not complex.

1. Ships from Address

Shipping for address

As a seller, you need to add the “ships from” address to your selling booth. Just click on the selling option, click the booth settings, and select the “shipping and returns” tabs.

You need to write the number of days it will take for you to get the order to the shipping service. The next option requires you to fill in the specific address you will be shipping from.

2. Shipping Methods

Shipping Methods

There are two methods: shipping to the US and shipping internationally (anywhere outside the US). To be on the safe side, always choose the right option for all your products. There are different options, and you can even decide to check the option “I will not ship to non-US countries”.

3. Shipping Profiles

Shipping Profiles

If you are using the same shipping for a different listing, you can save your selections in the shipping profile. You can then use the same options in a different product listing. Luckily, you can add up to 3 shipping addresses.

FAQ – Frequently Asked Questions

Q. Which is Bonanza's refund policy?

Since the customer is not purchasing or paying fees to Bonanza directly, there is no direct refund policy. However, a buyer can negotiate with the seller.

Q. What are Bonanza's rates?

When an item is sold, a rate of 3.5% of the final value must be paid for all items under $500. For items over $500, sellers must pay $17.50 plus 1.5% of the amount over $50.

Make the best of the Bonanza Platform.

Bonanza is an online marketplace that has been in existence since 2008. This has made it gain popularity over time. It has a great design and offers sellers and buyers various product choices.

You can never go wrong while using the Bonanza platform. It is ideal, straightforward, and open to any user. However, ensure you read the terms and conditions to be on the safe side.

You won't be charged anything when starting a web store or listing your products. However, they take a small percentage of the selling price. However, the higher your commission, the more your products will be featured in different areas.