Etsy sellers can expect change, and as a result, they’ll find less of it in their pocket.
The e-commerce site through which people can sell handcrafted merchandise announced on Thursday that it’s raising the seller transaction fee to support new initiatives to grow the platform.
As of July 16, nearly 2 million Etsy sellers will see transaction fees increase from 3.5% to 5%; the fee will also apply to shipping costs. For example, an item sold for $30 will have a transaction fee of $1.65 plus a $3 shipping fee.
Etsy says that the money generated from the fee increase will help fund its efforts to attract more buyers to the website and build new suites of tools to help sellers manage their businesses. You can find out more about the new seller services here.
As of March 31, more than 34 million shoppers used Etsy to purchase artisan items during the previous year. The company spent $78 million on marketing in 2017 and says it plans to spend more than $110 million this year.
Matt Reinstetle is a staff writer at The Penny Hoarder. His buddy once used Etsy to find him a Christmas gift — a 3-D-printed replica of Kylo Ren’s Lightsaber from “Star Wars.”
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
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