Today we’ve announced some important news for our selling community, and we’d like to go into a bit more detail in this update.
The update in a nutshell
As of 1 May 2017:
- To qualify for the Top Seller programme you must be marked as in trade.
- We’ve added more benefits to being a Top Seller, but removed some discounts too.
- Our success fee cap will be raised from $149 to $249 – but not for in-trade sellers.
- We want to remind you of the ways we support our sellers.
Updated Top Seller programme
From 1 May, to qualify as a Top Seller, you must be in trade. You will need to ensure you have the in trade label on your listings, which appears after you set this up on your My Trade Me page.
The other qualification criteria for the Top Seller programme will remain the same, but on 1 May it will become compulsory to be marked as in trade. If after that date you are not marked in trade when we check you meet the qualification criteria, you’ll lose your Top Seller status.
Note that if you simply disclose within your listings details when you’re selling items in trade, you will not be eligible to become a Top Seller.
The aim of our Top Seller programme is to reward professional sellers who are in trade. We believe it’s important to recognise in-trade sellers who abide by consumer laws in New Zealand and, on top of that, provide excellent customer service. We want our Top Seller programme to reflect the best of our best professional sellers in our selling community.
Changes to Top Seller rewards
Top Sellers will keep many of their current benefits, including the 15% rebate on success fees, high volume listing fees, Gallery, Feature, Feature Combo and Super Feature promotional extras. The discounted Pay Now rate will also remain at 1.65%. We’re also adding some extra rewards for our Top Sellers in the form of a Top Seller label*, and the ability to add video**.
However, from 1 May we’re discontinuing the 15% rebate on our premium product add-ons: Gallery Plus, Subtitle, Scheduled end, 10-day auction, Reserve and Second Category.
*Your new Top Seller label will appear on your member details page, Stores page, and all of your general item listings (i.e. not those in Property, Jobs, Services, or Motors).
**Video will only be available on desktop for now (i.e. not available through seller tools, on mobile apps or Preview) for general item listings. Not all general items categories will support video.
Success fee cap
For sellers who are not Top Sellers or ‘in trade’, we’re increasing the maximum success fee payable for the sale of a General item from $149 to $249 on 1 May. This means we’re changing the sale price at which our success fee cap kicks in, and the fee paid on the sale of items for $1886 or more will increase.
Top Sellers staying in the programme are exempt from this change and will continue to pay a maximum success fee of $126.65 (i.e. $149 with a 15% discount).
Sellers who are in trade are also exempt from this change, and will continue to pay $149.
We anticipate this change will impact around 2% of total sellers on Trade Me, and the vast majority are likely to only hit the cap once per year. We believe that with our large audience, buyer and seller protection, and other new initiatives like Book a Courier and Ping, this change still reflects good value for money.
The last time our success fee cap was changed was back in 2008, and over time we’ve seen the average sale price on Trade Me increase, with more items hitting the cap as more items are sold.
We believe we’ve also added value to sellers on Trade Me through ongoing site improvements, seller protection, and having dedicated support and resources just for sellers. Scroll down for the other things we do for our selling community.
How do we support our sellers?
We’re always looking for ways to improve the buying and selling experience on Trade Me, and that includes making sure we have the resources available to help trades go as smoothly as possible.
We operate things like 24-hour payment monitoring, a dedicated Disputes team, and a Trust & Safety team whose sole purpose is making sure Trade Me remains a trusted place to buy and sell.
Unlike social media sites, Trade Me is set up specifically to buy and sell items in a safe way, and we have dedicated tools, teams, and safeguards in place to help make sure trades go smoothly.
99.99% of trades on Trade Me go through without a hitch. It’s the 0.01% that our dedicated Trust & Safety and Policing teams are focussed on.
Check out this page for more info on how we protect all sellers on Trade Me.
Seller Information Centre & Seller blog
We have dedicated sections to help all sellers: big and small, casual or professional.
Our Seller Information Centre is a fantastic resource for professional sellers who are new and looking for advice on how to improve their sales, or for established businesses looking for ways to grow and expand to be the best in market.
Our Seller blog is invaluable for all sellers, with lots of tips, articles, and relevant posts around general market activity or things going on Trade Me. We also have a dedicated message board for our sellers to discuss the latest blog posts with the wider selling community.
Magento is the world’s #1 commerce platform, helping over 250,000 merchants to sell more and drive innovation. We’ll soon be releasing a plugin via our API to make integration with Magento super easy for our sellers.
Selling via mobile
We’re working away on making selling via our mobile apps easier and faster. For example, Category, price and closing time suggesters are in the mix on our iOS app, as well as the ability to create and manage drafts. Our aim is to make selling on the move a whole lot easier.
Book a courier
Our courier booking service is our way of helping members have an easier and more seamless experience selling on the site. It’s simple to use, the rates are competitive, and the courier comes direct to you.
Phew! That’s it for this seller update. If you have any questions, please get in touch.
To discuss these changes, feel free to head over to the dedicated Message Board thread for this post.