Emails were sent out today that Tradesy is raising their commission again and now it will be a whopping 19.8% (not including the “safe transfer fee”). Why? Well, let’s just take a look and see.
I have blacked out the name for privacy reasons but this si what the emails says:
“Thank you for being a part of the Tradesy community! Because of sellers like you, buyers are in love with the Tradesy experience, and they’re shopping more than ever.
We’re investing in new efforts to attract even more buyers, and developing innovative features to make your selling experience even easier. To support these efforts and more, we’re making a change to the Tradesy commission policy.
Starting on October 10, 2017, our commission rate will be adjusted to 19.8%. You’ll keep more than 80% of your earnings when you make a sale, while continuing to enjoy the very best value and service in the industry. If you choose to withdraw earnings from your account, our low 2.9% safe transfer fee will not change.”
But wait……there’s more! This is how they are going to spend that money:
I totally understand progress and while these changes seem awesome in theory, have you seen some of the listings lately? I’m not talking about everyone but I’ve seen quite a few hot messes and while the tape measurement tool looks cool, will it do clothing? Shoes? Image recognition technology? Nope.
Taking photos of your postal receipt to upload tracking? Love it but who ships on their own anymore? I’m all about the printable label!
Faster Payouts? This is an area where they have been extremely slow and why would that even qualify as a point? Unless, your spending more than your bringing in. It’s been taking at least three weeks or longer to receive payouts and this does cause me a bit of concern. Why? Because they have always paid out quickly, like your money was available three days after your item was received and there is ZERO reason to hold on to anyone’s money longer than that, especially when you, as a company, have given the buyer that time frame to request a refund. again, why is this a point?
Second, I’ve been told by several that they are not allowing new business accounts to sign up. I’m not saying all business accounts but the people that have reached out to me received the same response,”Tradesy is not accepting new sellers at this time.”
Question. If you’re a marketplace and have created an infrastructure for other people to sell on, why would you not want as many people using said marketplace. This is how you make your money and if set up properly, you can have hundreds of thousand of people buying and selling on that platform.
Now, with all that being said, what are your options? Several but that’s for another post. I want o make sure I have all the info correct for you to make an educated choice with pros and cons of each marketplace out there.