Etsy has plans to increase its transaction fees soon, but it seems that this new policy does not sound good for the part of the sellers and buyers.
According to the latest report, several individuals are planning to cancel the fee increase that the e-commerce platform wants to impose. With that, they signed a petition in hopes that the company will reverse its decision.
Etsy Petition Over 30% Increased Fees
On Thursday, March 24, Buzzfeed News reported that thousands of sellers and customers wanted to stop Etsy from implementing new policies for the 30% increase in transaction fees.
According to the individuals who signed the petition, the recent action from the company would result in short-term revenue gains.
Based on the petition, the plan to increase the seller fees by 30% could count as "pandemic profiteering. The people also expect that the current fees will increase twice their amount in just less than four years.
"Even though it's the hard work of Etsy's sellers who've made it the massively successful company it is today, we have fewer rights and less of a voice in our workplaces than ever," the petition reads.
Related Article: Etsy to Raise Seller Transaction Fees From 5 to 6.5% on April 11 Following its Q4 2021 Earnings Report
Etsy's Increased Fees to Take Effect Next Month
In an early report from The Verge, some sellers and customers have raised their concerns over the sudden decision of Etsy to increase the transaction fees from 5% to 6.5%.
To counter the decision, several business owners launched a protest to stop this policy. It would take effect on April 11. In addition, the people also wanted to boycott Etsy.
As of press time, there were a total number of 5.3 million sellers on the e-commerce platform. According to the report, they have been active on transactions since seven years ago.
Per Etsy's spokesperson, the increase in fees will be put for the improvement of their marketing service, as well as the customer support. Furthermore, the company also mentioned that it would help in removing listings that are not aligned with its existing policies.
Etsy Petition
In an interview with Buzzfeed News, seller Kristi Cassidy who relies on Etsy through her auralynee business said that the recent fee increase will cost her a monthly deduction of $100 during sales periods.
Following this response, she continued that she was upset over this decision. She also said that there was a time when Etsy was charging a 12% minimum fee for an advertising program back in 2020.
When the platform announced another spike in the fees last month, Cassidy vented out on Reddit to seek some answers from her fellow sellers. Later, she spearheaded the Etsy Strike and sought other people with the same concerns on Discord.
For Cassidy, she and the other sellers want to achieve a "solidarity movement" that will help the other people to escape this mishap. However, there are still obstacles along the way that need to be cleared out first.
Read Also: Washington DC Attorney Filed a Lawsuit Against Grubhub Due to Deceptive Trade Practices
This article is owned by Tech Times
Written by Joseph Henry
