Bonanza Marketplace Adds New Transaction Fee
Bonanza marketplace has announced they'll be instituting a $0.25 per transaction fee on all transactions - even ones that qualify for their commission-free sales offer.
However, sellers with a membership subscription (starting at $40/month) are exempt from the new transaction fee, so evaluate your sales closely to see what option best fits your business.
As sellers are well aware, marketplaces have continually raised their fees over the years. Bonanza has not made any changes to our fee structure since 2016, despite increasing inflation. As we evaluate the changes to the current economic market, we realize we need to make an adjustment to our pricing policy in order to counter the rise in operational costs. To minimize the impact on our selling community, Bonanza has made the decision to add a flat-rate transaction fee of 25¢ on all completed sales as of the end of August 2022.
- Bonanza is adding the transactional fee to counter rising costs without raising final value fees.
- This is not a listing insertion fee. Sellers can continue to post items to Bonanza for free; the only time this fee will be assessed is after a completed sale.
- All sellers with a Bonanza membership subscription are exempt and will not be affected.
- Sellers can continue to make commission-free sales to negate the final value fee. [Note that the 25¢ fee will still apply]
- Sellers can continue to use rewards tokens toward fee payments.
We recognize that this impacts you as a small business because we are a small business. We are mindful in making a change that is least impactful to our selling community (that is, by adding a small, flat-rate fee of 25¢ rather than implementing a percentage increase). Doing so still allows sellers to list items on Bonanza and external advertising platforms without any up-front costs. We are proud to be the most seller-friendly marketplace, unique in sending all listings to Google Shopping and Bing for advertising at no cost to you. We only charge an (adjustable) final value fee - and now a small transaction fee for non-members - after an item is sold.
If you are also selling on other platforms, you will likely have already addressed the price increases to minimize the impact on your costs. You can update your prices on Bonanza to match those on eBay by using the option "Import new and revised items". If you only sell on Bonanza and need to make any price adjustments to your listings, you can do so in bulk with our Batch Edit Items tool. Contact our support team for step-by-step instructions at support@bonanza.com.
We continue to offer you methods to avoid paying final value fees altogether by using your account tools for generating commission-free sales. Whether the buyer arrived from your booth referral link, Customer Marketing Campaigns, or elsewhere on the web, you'll pay no final value fee when you drive customers to your booth.
How will this new fee impact your selling activity on Bonanza? Let us know in the comments below!
Concerned
