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Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.
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And WHY won’t Etsy disclose the amount they sold Elo7 ?
I’d bet money they sold at a loss!!
So back in 2021, Etsy jacked Seller fees from 5% to 6.5%. Then Etsy announced they would charge Sellers an additional 12% when sales come from outside of Etsy…which is a HUGE profit margin squeeze for Sellers.
Shortly after, Etsy purchased 2 companies for nearly all cash, one being Elo7.
Instead of investing into U.S. made Etsy with the strongest consumer on the planet, Etsy decided to rape Sellers in fees just to invest into poverty stricken Brazil. I KNEW this would be a bad investment.
It’s like Elon Musk and his wasteful spending on Twitter. And to think, Etsy could have spent that money into things like Customer Service, or better yet, to keep fees low so that Etsy sales won’t stagnant as they are today.
What a thoughtless and clueless company.
Etsy got greedy and it bit them in the butt.
Love it!
I lost 2 milling machines to Brazil.
Had the buyer told me where they were going, I never would have sold them to him.
Selling America out shouldn’t be an option..