Thousands of sellers on Etsy are involved in a weeklong strike over increased rates.
According to a report on NPR, merchants on the e-commerce channel dedicated to handmade or vintage items and craft supplies are closing their online stores for a week to strike due to the fee increase.
Etsy Sellers Strike Over Costs
The Etsy sellers are reluctant to pay the 1.5% higher seller fees. As of April 11, transaction fees on Etsy rose from 5% to 6.5%. Etsy’s CEO Josh Silverman said the increase was made to fund improvements in marketing and seller tools.
It’s important for anyone selling items on Etsy to be aware of the increased costs so that they can budget accordingly. News of changes in transaction fees should be closely followed by small business owners selling items online as it shows how sites can increase fees, inevitably impacting cash flow and ultimately small business profits.
In a letter to Silverman, the high profile Etsy sellers said, “Etsy has become a downright hostile place for authentic small businesses to operate. For both full-time and part-time sellers, the changes on Etsy have pushed many of us to the brink of financial ruin.
“After two years of giving Etsy record profits under the most difficult circumstances imaginable, we are tired, frustrated and ready to fight for our seat at the table,” the letter continued.
Etsy Increase Transaction Fees
The latest Etsy fee increase comes just a few years after sellers were forced to pay more transaction fees. Sellers are also reportedly seeing resellers on Etsy, and shops that mimic other artists’ designs are popping up. Despite filing complaints about such practices, merchants told NPR they felt Etsy was not doing anything about the issues.
The story highlights how important it is for sellers online to be aware of changes in fees and other charges on the channels they sell on so they can accommodate such increases and price products and services accordingly so their bottom line isn’t too heavy. affected.
It also underscores the value for employers to prioritize transparency, fairness and advocacy for workers’ interests and well-being in order to nurture good working relationships and avoid falling into damaging reputational disputes such as strikes.
This post Some Etsy sellers are on strike due to higher costs was original published at “https://smallbiztrends.com/2022/04/etsy-sellers-strike-over-increased-fees.html”