Etsy Inc (NASDAQ:ETSY), an online crafts marketplace has outlined that it will soon increase the transaction fees it charges. The Wall Street investors are quite pleased with the news, but it is not the same for some of the merchants that sell on the site who have launched a lot of complaints terming the move unfair.
One of the officials working with the company while addressing several journalists revealed that the changes were going to be effective from July 16.That is when the company will raise the fees charged to sellers. For each of the sales they will be making, there will be a rise from 5% to 3.5% according to the official.
It was on Thursday that that the company made it known that it would be charging all the sellers a 5% fee in the form of the shipping costs.
The company has send out an email where it clearly explained all the changes it was going to implement. It is focusing on ways to make its business the best place for running creative operations.
Focusing into the future
The Company makes the latest changes after taking quite some time to listen to what the various sellers had been advocating for. Etsy’s tools for building the business are already in place and the company hopes for the very best in the near future.
Etsy has told sellers that the new fee won’t be in vain since it will help the company in coming up with the new tools for the sellers. Etsy believes that improving the seller experience is one of the best ways to impress them and also generate more in terms of business revenues.
Market observers have also come out in support of the company for the updated fees taking the stance that the new features will be of great benefit to the large number of sellers.
Etsy intends to introduce optional monthly packages which will provide access to a set of new tools which are specifically designed for shops in their different levels of growth. Sellers will be able to access all the tolls they know and love without being compelled to pay a monthly subscription.