Bonanza launched a new Top Rated Seller program to instill confidence in buyers and reward sellers who help foster an environment of trust, the online marketplace announced last week.
Bonanza will display the Top Rated Seller badge in several places on its site for sellers who meet the standards: on sellers’ profile banner, booth homepage, item listing pages, and thumbnail pictures. The goal is to help convert shoppers into buyers.
The program is similar to one offered by eBay, though Top Rated Sellers on eBay also receive discounts on fees. In fact, Bonanza explained, “Any eBay sellers with Top Rated Sellers status also meet the criteria for Top Rated Seller status on Bonanza and will have their status imported along with their eBay feedback.”
Over time, eBay has made the program more stringent, however, using the TRS discount as an incentive to offer buyer-friendly policies such as a generous return policy.
To achieve and maintain Top Rated Seller status on Bonanza, sellers must meet these requirements and performance standards:
- Maintain a minimum of 98% positive feedback
- Be an active member on Bonanza for at least 90 days
- Have 25+ transactions with US buyers within 1 year
- Have a minimum of $250 in annual sales
- Have a refund rate lower than 20%
- Be compliant with all Bonanza policies
- Provide tracking numbers for at least 90% of your transactions.
You can find more information on the Bonanza website.