Good news for UK eBay sellers: Final Value Fees have been cut in several categories
eBay has announced that they have identified several categories where they have more demand than ever before and want to aid its sellers in meeting buyer’s needs in these areas. It is no surprise then that these changes have been launched just in time for their Prime day equivalent event, the eBay Crash Sale. These categories have been announced as Home, Furniture & DIY, Jewellery & Watches and Health & Beauty, all of which eBay have decided to reduce Final Value Fees for UK Business sellers in order to boost sales and increase the number of listings on their marketplace. The Final Value Fee refers to the commission that eBay charges the seller after a listing has sold. The fee is based on the final value of the item.
On Thursday 11th July, eBay UK made an exciting decision to reduce Final Value Fees in the Home, Furniture & DIY category. Business sellers with items found within this group will benefit from the Final Value Fee falling to 6% for any portion of the total sales price if greater than £250. This will also include postage. They have also decided to extend the fee cap for shop subscribers in the Jewellery & Watches category so that the Final Value Fee cap of £50 for watches will now apply across the entire Jewellery category as well for shop subscribers. eBay has also offered a promotion on Health & Beauty items up to £10, where you can just pay 2% Final Value Fees until the 30th September. Sellers must actively opt in to receive this though and the item price must also be less than or equal to £10 excluding shipping costs. These listings can also be applied to individual items involved in multi-quantity sales which means multi-buy items can also apply for lower Final Value Fees.
The best news is that you don’t need to make any changes to your account to benefit from eBay’s new price drops as any sales for new, relisted or renewed listings will already be benefiting from the changes other than Health & Beauty products which you will still have to apply for.
These alterations have come just a week after eBay changed how new and revised listings situated within Bedding, Rugs & Carpets and Furniture categories should be created. To help drive visibility and conversion for businesses, eBay announced that listings within Bedding, Rugs & Carpets and Furniture must include mandatory item specifics.
This cut of costs have made eBay’s Crash Sale even more successful with more businesses selling on their platform at the same time as Amazon’s Prime Day festivities this year.
It appears that eBay is making a number of changes on their marketplace to improve the customer experience on the site and it seems to be working with eBay’s latest earnings report suggesting that their sales rose 4%, outperforming all expectations.