What is Tophatter? Tophatter Review, Features

Tophatter is a cross-border e-commerce platform originated from Silicon Valley, USA. It takes an average of 90 seconds to place an order, and it is even faster. It is free to join the platform, and sellers can place orders in as fast as 2 hours after opening a store.

Platform Highlights

Easier traffic acquisition: advertising order mode, set advertising fees, product exposure is all on the APP homepage

Faster order processing: short, frequent auction mode, window display, one item at a time, quick order processing

· More impressive order volume: Rapid growth, new sellers can achieve 1,000 orders per day in as little as 30 days

· Lower commissions for a limited time: Commissions dropped to 9% during the epidemic and there is still no callback, which is a good time to enter the market

Unique advantages of the platform

· Fast order placement: 90-second auction to place orders quickly, bargaining price mode to lock in profits

· Fast growth: Sellers set their own advertising fees and control their own budgets, so growth is fast and controllable

· Fast clearance: Support FBA marked shipment, making clearance easier

Entry conditions

Business sellers

Applications from sellers with experience in e-commerce operations and product selection will be given priority

Settlement benefits

Free entry to the platform, no pre-charge required, 0 monthly fee, 0 annual fee

· One-on-one support and training by investment managers

· Contact the account manager after the order is shipped

· Participate in the online incubation camp for free

Free learning materials, distributed via email

Settlement process

1. Through the exclusive link (create a seller account: https://cn.tophatter.com/sellers/apply?seller_source= )

2. Create an account in the seller backend as required and submit the entry materials (Guideline: https://www.topsellers.cn/2019/07/09/onboarding/ )

3. The investment manager calls to communicate and review the support

4. After approval, confirm the terms and start selling

Notes for sellers

· Fill in the phone number you can call;

Do not use email addresses 163 or 126 to avoid missing platform emails and prolonging your registration time;

The products and store links provided are relevant and consistent with the categories you plan to start selling on the platform;

If the information provided is complete, the account manager will generally contact the seller within 3 working days for in-depth communication. If not, please continue to wait or indicate that your application has not been approved;

Please do not use a VPN when registering an account.

Development History

-Founded in Silicon Valley in 2012, a new and interesting limited-time auction website with a unique 90-second limited-time auction sales model, making shopping like playing a game.

-In 2013, Tophatter launched the iOS version, and transaction volume grew rapidly.

-In 2014, Tophatter launched the Android version, with annual growth exceeding 100%.

-In 2015, Tophatter’s transaction volume reached US$70 million, with an annual growth rate of more than 100%.

-In 2016, Tophatter's transaction volume reached 160 million US dollars, with an annual growth of more than 100%, and the platform began to open to Asian suppliers.

-In 2017, Tophatter launched its European APP and continued to expand to 12 countries to recruit European and Asian suppliers. It doubled its annual turnover, with annual turnover exceeding US$350 million, monthly average orders exceeding 2 million, the number of buyers exceeding 17 million, and active users reaching 12 million, with an annual growth of more than 100%. The categories have also expanded from traditional clothing and jewelry to electronics, home furnishings, toys, gifts and other categories.

-In 2018, Tophatter had an average daily order volume of 150,000 and 25 million active users. Tophatter fully empowers sellers to enhance their market competitiveness and profitability. The platform will further optimize and refine the algorithm based on the Target Price submitted by sellers on the platform, helping sellers who are competitive in price and quality to grow rapidly and obtain higher sales and profits on the platform.

-In 2020, Tophatter had 30 million active users and was fully open to individual/corporate sellers.

FAQ

Q: Can a company open multiple stores?

A: No, a company can only open one store, and the platform does not allow multiple accounts.

Q: What are the platform entry fees and commissions?

Answer: There is no annual fee or settlement fee. The settlement commission for new sellers during the peak season is as low as 9%.

Q: What categories can sellers apply for?

A: The platform implements general terms and conditions. After passing the review, all categories can be sold, including: electronics, jewelry, clothing, accessories, home furnishings, toys, etc. (Except for Fine Jewelery and Branded bags, which require relevant qualification certificates to apply to the account manager).

Q: What payment methods does the platform support?

A: Domestic sellers support two payment methods: Payoneer or Worldfirst. Please note: the payee must be the same as the legal person of the business license; the receiving bank must be a domestic bank.

Q: How long is the platform’s loan cycle?

A: The platform will issue loans based on successful delivery. The first loan will be issued to new sellers 30 days after they bind their payment, and then loans will be issued every week.

Q: What are the logistics requirements of the platform?

A: The latest delivery time is 5 days, the product will be available online within 2 days, and the delivery time is 14 to 20 days. The delivery time may fluctuate according to the peak and off-peak seasons. Orders in the United States must have full tracking information, and other regions can use logistics service providers approved by the platform.

Q: What is the platform’s policy on counterfeit products?

A: If a new seller is found to have listed counterfeit products during the application process, the application will be rejected. Once the seller is found to have listed or sold counterfeit products after the sales authority is opened, the account will be frozen or even closed.

Q: How does the platform work?

A: The platform implements the SFB (Scheduling fees bidding) model.

Q: Are there any selling fees on Tophatter?

A: Yes, sellers selling on Tophatter need to pay:

1. Transaction fee: When the buyer pays for the order, the platform will charge the transaction fee.

2. Commission: Commission is charged based on the final sales price plus shipping costs. Commission is charged per piece at the time of payment.

3. Other deductions, including refund fees, shipping notes, shipping insurance, etc.