#Repost @thegracegraffiti with @get_repost
Quick poll...do you shop on Etsy? Would you be willing to seek out your favorite shops and go directly to their website?
Many small business owners like us are trying to process what step to take next with Etsy. They are closing their Wholesale platform and yesterday they announced an increase in transaction fees (even on shipping) and that monthly Seller Subscription packages are rolling out soon. We are thankful to have other growing platforms for our business (like our website*free shipping*) but we did get our start on Etsy and have always believed in is core values. My husband’s first comment was “oh they must be losing money”...nope, they are projecting to be up 34% this year and after the announcement yesterday their stock sky rocketed. #billiondollarcompany
Consider this example of the new Etsy fee:
We sell an item for $150 that ships for $25. Under the old fee system, we’d be charged $0.20 to list the item and $5.25 for the transaction fee (3.5 percent of $150). A total cost of $5.45 to sell that item on Etsy.
Under the new rules, the listing price remains $0.20, but the increased fee of 5 percent would now apply to $175 (because the $25 shipping cost is now added), which would be $8.75 ($8.95 total). That may not seem like much, but it is a 64 percent increase! 😮
If you made it this far in our post you are a rock ⭐️. Thank you for supporting small businesses! A few of my favorites Etsy shops are tagged too- we would appreciate your feedback! 😘