Seller costs are rising again! Etsy increases selling fees on Reverb platform!

According to foreign media reports, Etsy recently announced that it would increase fees for sellers selling through its online marketplace Reverb. Reverb was acquired by Etsy in 2019 and focuses on providing new, used and vintage musical instruments.

According to reports, the Reverb platform will now charge a fixed fee of 3.9% and an additional fee of 49 cents for each order. The previous fee was 2.7% + 25 cents.

By order value, fees (including shipping and taxes) will increase by 38% for orders under $25, and by 31% for orders between $25 and $50.

In addition, Preferred Sellers will not be subject to the above fees. The fee for this type of seller is 2.99% + 49 cents, which is a lower commission than ordinary sellers.

Reverb said the increase was due to "increased commission rates charged to Reverb by credit card companies. Seller commission fees have remained the same for the past 10 years, but as credit card processing rates have become increasingly expensive, the company has had to make this adjustment."

It is learned that currently, the number of buyers on Reverb exceeds 1 million, the number of sellers exceeds 345,000, and the cumulative number of products sold exceeds 960,000. The annual number of visits to the Reverb platform exceeds 94 million. Reverb also intends to launch higher fees on October 27, 2022.

Editor ✎ Nicole/

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