Kogan.com

Nine dimensions merchants should review before joining:

Merchant snapshot

Suited to localized sellers and private-label brands in electronics/appliances/home categories entering Australia via Kogan First subscriptions and local-warehouse fulfillment; but FY25 losses and small scale make it not the first choice for traffic.

Entry requirements

Kogan runs a hybrid of first-party (1P) retail and third-party marketplace (3P); the marketplace business is growing strongly and opening to third parties to spread inventory risk. Third-party sellers apply via the Kogan Seller Hub, providing company credentials and product information; specific review standards per official requirements. Cross-border sellers need Australian GST registration (Australia's GST applies from the first Australian dollar on imports, with no de minimis threshold) and usually a local warehouse or a logistics plan that can deliver to Australia; the language is mainly English.

Fee structure

Marketplace commission is charged by category; the research did not capture an official uniform commission figure, so specifics per Kogan's official fee schedule/seller agreement. There is no fixed monthly subscription for sellers (Kogan First is a paid consumer subscription; sellers do not pay it directly). Optional platform local-warehouse fulfillment is available, with storage/delivery fees per the official price list. On-site promotion/marketing tools carry extra fees (per the official policy).

Getting traffic

Organic traffic comes mainly from brand searches and Kogan First subscribers — members get free shipping/exclusive prices that generate high-frequency repurchase, the platform's core traffic asset (subscription flywheel narrative). On-site ads and promotions (member-exclusive prices, flash sales, etc.) are simpler than Amazon's SP/ad system. After Catch shut down in January 2025, a vacuum opened in local discount e-commerce traffic; Kogan is one of the few players able to serve "local low price + next-day delivery" demand (SMH).

Fulfilment & logistics

Local Australian warehousing and delivery (in-house warehouses) give a clear speed advantage over Temu/Shein cross-border direct mail (next-day/day-after delivery). Cross-border sellers can self-fulfill (seller fulfilled) or send stock to Kogan's warehouses. New Zealand operations are handled by Mighty Ape, and the related FY25 impairment of A$46.3M shows it is dragging the group down. Australia's vast, sparsely populated geography and high last-mile cost in remote areas (AusPost structural headwind) form the overall fulfillment-cost backdrop.

Payments & settlement

Consumer payments go through the platform (credit/debit cards and Australian local BNPL/buy-now-pay-later like Afterpay); sellers do not handle collections directly. Sellers settle in Australian dollars (A$); remittance cycles per the official seller agreement. Kogan Mobile (telecom) and Kogan First subscriptions form the platform's recurring revenue sources, and their performance affects how much the platform invests in the seller side.

Compliance

Australian GST registration and filing required (imports are taxed from the first Australian dollar, no de minimis). Products must comply with the Australian Consumer Law (ACL) and ACCC product-safety requirements (the ACCC has strengthened product-safety oversight of online marketplaces since 2025). Electronics/appliances must meet Australian electrical-safety and energy-efficiency requirements (RCM mark, etc.). Cross-border sellers should mind import duties and compliant-entity arrangements.

Key risks

1) The platform's own operations are unstable: FY25 net loss of A$39.5M and a Mighty Ape impairment of A$46.3M; trading was briefly suspended after results, with historical inventory crises and cash-flow pressure (Eightx teardown). 2) A three-way price war with Amazon/Temu/Shein compresses AOV and gross margin; its scale (~A$931M) is far behind Amazon (A$7.7B order of magnitude), so scale effects are insufficient. 3) If New Zealand (Mighty Ape) keeps deteriorating, it will continue to drag earnings (Morningstar). 4) The platform's traffic base is small, cold-start is hard for new sellers, and seller policies/fees carry adjustment risk (see the eBay tiered-fee precedent).

Best-fit sellers

Best suited to: sellers in electronics, appliances, home and DIY categories that already have a local Australian entity/local warehouse, and private-label sellers — they can build repurchase using the Kogan First user pool and local fulfillment. Not suited to: cross-border volume newcomers chasing traffic scale and rock-bottom prices (exposure far below Amazon/eBay), or fashion/FMCG categories (not Kogan's mindshare categories).

Sources

research/sections/anz_platforms.md 9.1/9.2.4; research/research-top5-ecommerce-platforms-jp-kr-au-nz.md; 各地区电商平台Top5深度研究报告.md 第8章 (Chinese report, Chapter 8); https://www.applianceretailer.com.au/kogan-posts-39-5-million-loss-amid-mighty-ape-reset-stronger-marketplace-growth/; https://www.ragtrader.com.au/news/kogan-reports-39m-loss-issues-trading-halt; https://eightx.co/blog/asx-teardown-kogan-2026; https://kessler-prod.reta52d8.eas.morningstar.com/company-reports/1324723-kogan-earnings-australian-advancements-in-sales-and-earnings-overshadowed-by-new-zealand; https://www.smh.com.au/business/companies/online-retailer-catch-com-au-to-shut-down-190-jobs-to-go-20250121-p5l618.html; https://www.worldfirst.com/au/insight/ecommerce-seller-resources/sell-on-kogan/

Kogan.com appears in the Top-5 lists of 1 regions: Australia / NZ.

• Australia & New Zealand（#4）：Electronics / appliances / private label; marketplace + 1P hybrid

Every figure is taken from that region’s Top-5 report and source audit. No cross-region conversion or new estimates: