Etsy hits sellers with 30 percent transaction fee increase
by Mia Sato from The Verge - All Posts on (#5WFZ3)
Photo: Chris Welch / The Verge Following a record-breaking 2021 fourth quarter, Etsy is raising seller transaction fees from 5 percent to 6.5 percent, the company announced today. In a report to investors today, the company says the 30 percent increase will take effect beginning on April 11th. The transaction fee is the percentage of the total order amount Etsy charges when a seller makes a sale.
The added expense to sellers comes as Etsy announced a fourth-quarter revenue of $717.1 million, which the company attributes to a strong holiday shopping season. Etsy added 10 million new buyers in the fourth quarter of 2021, bringing the number of active buyers to a record 90 million. Stock prices jumped more than 15 percent after market close on Thursday following the...