Amazon, Etsy, eBay, and Shopify sellers feel the squeeze of higher fees. Now they must get creative to stay profitable.
Some sellers have decided to raise their prices to make up for the lost margin. A series of fee hikes and rampant inflation have made it more expensive to sell on e-commerce platforms from Amazon to Shopify in recent months. That means it may become more expensive to shop from those sellers, too. — a percentage that the company takes when an item is sold — in February. The company said that the increase varied by category, but that the largest increase was 0.35%.
Tyson has had to raise prices twice in the last three years. Most recently, he did a 0.5% price increase on all of his products. He estimated that his annual income would have fallen by 4-5% had he not raised his prices. As these platforms have grown their user base and added more services to their offerings, it has become easier for them to justify a higher cost.
Most sellers on platforms like eBay, Etsy, and Amazon are too small to be well-capitalized or backed by venture funding, meaning they can't typically afford to absorb increased platform costs without raising their prices slightly. Elizabeth Morgan sells handmade earrings on a shop called Lively Liz Creations., said that she raised her prices by about 5% after Etsy raised fees last year. She also started focusing more on specialized products that she could charge more for.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paid period leave has improved a gaming company employee's work lifeA millennial whose employer gives paid period leave said it's improved her work life knowing she could take time off when the pain becomes unbearable
Read more »
Everything you need to know about OpenAI's updated GPT-4OpenAI's GPT-4 has arrived. From its accuracy to its beefed-up fight against 'evil,' here are the 5 things you need to know about how the upgraded chatbot differs from GPT-3.5.
Read more »
Student-loan borrowers get more protection from fraudulent behaviorStudent-loan borrowers just got an added layer of protection from schools that take advantage of them 'to make a quick buck'
Read more »
We left California for North Carolina. It's not what we expected.We moved to North Carolina but are about to leave because the salaries aren't high enough and the diversity we value ended at the city limits
Read more »
Dollar Tree to stop selling eggs until fall due to priceInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Steve Bannon ally Miles Guo charged with $1 billion fraud schemeFeds arrest Chinese tycoon linked to Steve Bannon and charge him with defrauding online fans to fund his yacht, Ferrari, and $36,000 mattresses
Read more »