What is Fyndiq? Fyndiq Review, Features

Fyndiq is Sweden's largest discount promotion e-commerce platform. It was founded in 2010 and provides a place for sellers to deal with overstocked inventory products. In fact, Fyndiq means discount in Swedish.

About Fyndiq

Fyndiq is a household name in Sweden. It has attracted a large number of loyal visitors by selling cost-effective and high-quality retail products. The order volume is average, but the profit can reach 50%-60%. Sellers who do not pursue order volume but profit can try it.

·Fyndiq platform currently has 1.6 million unique users and 2 million visits per month. Most of the consumers are young consumers (18-25 years old) and family consumers, with a penetration rate of over 85%. The core consumer group is Swedish millennial women, and the brand awareness is as high as 95%. According to a French Lesau survey, Fyndiq's website orders in 2016 totaled 1 million, with a total transaction volume of 35 million euros.

Fyndiq has attracted more than 1,700 merchants, including well-known brands such as Adidas, Samsung, Omega, and NYX.

Entry conditions

Currently, Fyndiq has opened up cross-border sales, allowing companies in China to register (not for individuals, they must have company information), and must register for VAT in their country of origin (Swiss VAT is 25%). Fyndiq hopes that sellers with sales experience on e-commerce platforms (Amazon, eBay, Wish, etc.) will join and provide better services to customers.

At the same time, Fyndiq said that as long as sellers can provide cross-border delivery services, have the right product types and promotional mentality, sellers will have the opportunity to successfully open up a new sales channel.

language

The native language of Sweden is Swedish, but English is their second mother tongue. Whether it is product information or communication with customers or Fyndiq, there is no problem using English. The currency used is Swedish Krona, and the exchange rate is not much different from that of RMB.

register

For non-Swedish merchants: the registered address is: https://fyndiq.se/en/merchant/ ;

If you require the seller backend page to be set to English, you can contact Fyndiq's seller support: [email protected] ;

Platform fees: 15% of sales (including shipping but excluding VAT), no monthly service fees, no setup fees or product launch fees.

Shop opening costs

Fyndiq is committed to a service fee model based on fair transactions. There are no monthly rentals, setup fees or product launch fees. The service fee is divided into two parts:

Platform commission: 15% of the product sales price. (Including shipping costs but excluding VAT).

Category fee: 4 SEK or 8 SEK is charged for each product, excluding VAT, category fee overview:

PS: SEK stands for Swedish Krona.

For example, if you sell a product in the Mobile Phones and Tablets category on the Fyndiq platform for 100 SEK, the platform will charge a 10% commission of 10 SEK (excluding VAT), and an additional 8 SEK product category fee, so the platform charges 18 SEK.

Hot and banned products

1. Hot-selling products:

Fast fashion and accessories;

Health and beauty products;

Home products and accessories;

Children's products;

Electronic accessories;

Sports and leisure.

2. Prohibited products:

Due to Swedish law, Fyndiq is currently unable to sell the following products from outside Sweden:

Refrigerators and freezers;

Dishwashers, washing machines, and clothes dryers;

Vacuum cleaner;

Stoves, grills, microwaves, cooking plates, ovens;

Computers, tablets;

Phones (landline, mobile), routers and wireless networks, network cards and modems;

CD player, tape recorder, answering machine, MP3 player;

DVD players and video equipment;

·radio;

Television, monitor;

Game consoles.

Delivery time

Currently, the platform does not have logistics and warehousing channels, and does not strictly limit the time required to deliver the goods. As long as the delivery time and transportation time are set, the platform allows delivery on behalf of others.

It is recommended that the product be delivered within five working days. Of course, if your product is very good and the discount is very favorable, customers are willing to accept a longer shipping time.

·return the goods

·The customer is responsible for returning the goods to the seller within 14 days.

A return address in Sweden is required.

Development scale

- In 2010, 300 products were sold from 40 different stores.

- In 2011, Fyndiq's turnover amounted to SEK 8.3 million.

- In 2012, Fyndiq's turnover amounted to SEK 56 million.

- In 2013, Fyndiq had sales of SEK 123 million and sold 100,000 products.

-In 2014, more than 170,000 products were sold.

-In 2015, more than 400,000 products were sold.

-In 2016, more than 800,000 products were sold.