Esty the market place for makers has this week announced it will be increasing the transaction fee that makers pay on sales from 3.5% to 5%. The reason for the increase is for the company can invest even more into making “Etsy the best place to run your creative business” according to the official blurb. The new changes will take effect next month from July 16th, 2018 onwards and will now also apply to the cost of shipping.
In addition to the increase in sales costs Etsy has also announced the introduction of optional monthly packages, created to provide makers with access to a suite of new tools designed for shops at different stages of growth. Although makers will still be able to access all the tools they currently enjoy using without paying an additional monthly subscription.
For more information on the new optional monthly packages to help grow your business unveiled by Etsy and the increased transaction fees for makers jump over to the official blog to read the June 2018 update. Etsy explains a little more :
“Every day, we bring shoppers to Etsy who are looking for something they can’t find anywhere else: something special. More than 34 million of them have made a purchase in the past 12 months. This year, we’re working to bring sellers like you even more. Last year, we invested $78 million in marketing to bring buyers to Etsy, the most we’ve ever spent. We plan to increase that investment by at least 40% to more than $110 million in 2018. With online sales events like the World of Etsy in April and Etsy’s 13th Birthday, which starts on 18th June, we’re helping more shoppers discover the creative products that make our marketplace unique.”
Source: Fast Company : Engadget : Etsy
Filed Under: Technology News, Top News