Hipstamp 2020 Winter Seller Update
Just got the email that many of you probably did as well. If not, check it out:
https://www.hipstamp.com/news/2020-winter-seller-update?utm_source=Newsletter&utm_medium=email&utm_content=email newsletter&utm_campaign=HipStamp Seller Update 20200108
It's a bummer that prices are going up, but there are some options, and they are offering more value for some store levels. I want to be able to send out Newsletters, but don't have the inventory yet to justify the Featured store. Hopefully I'll get there!
What do you think?
https://www.hipstamp.com/store/mnhynes-bureau-precancels
https://www.hipstamp.com/news/2020-winter-seller-update?utm_source=Newsletter&utm_medium=email&utm_content=email newsletter&utm_campaign=HipStamp Seller Update 20200108
It's a bummer that prices are going up, but there are some options, and they are offering more value for some store levels. I want to be able to send out Newsletters, but don't have the inventory yet to justify the Featured store. Hopefully I'll get there!
What do you think?
https://www.hipstamp.com/store/mnhynes-bureau-precancels
Comments
The real increase comes from the .95% sales increase. Based on last years Hip sales, this increase will generated them an additional $142,500 in revenue of which $120,000 is being paid to Goggle. I have noticed new customers, so perhaps this is where they are coming from. Based on the percentage increase in my sales last year, I'm certainly willing to pay this increase. Based on my numbers, going forward a $100 increase in cost should generate an additional $2,000 in sales. That math works for me, so I'm OK with the changes.
The yearly rate also applies on Feb 1st if you don't get the 1 year plan before Feb 1. Just don't understand why they only gave us 21 days heads up at this time of year. Just a little bit hard to plan for that with the short time frame.
Thanks Michael, I will sign up today before I forget.
The increases for store items got me to doing some analyzing of my stats both here and on eBay, so I may play a bit of devil's advocate here. Both sites have their plus and minuses, especially depending on the target market. For me personally, I tend do handle medium priced to slightly higher end material (say $75-$5,000). I don't have massive quantity of stock but a decent sized, higher value stock of material. I periodically do auctions but mainly sell from my store.
For what I do, eBay is more advantageous to me. There is a higher visibility and in the first two weeks of this year, my turnover on eBay is about 10x here in regards to value. Up to the $600 selling mark, my costs for each site even out. Anything over, and eBay becomes cheaper. That's taking into account eBay's higher store fee but lower final value fee (6.1%). HipStamp has a much lower store fee but higher final value fee (now 8.95%). Of course, there are other plus and minus to each site but that's my side of things. I would like to see HipStamp increase it's number of users to really compete with eBay and am happy to be part of that.
But these are basically THREE increases at once.
Seems a little excessive.
1) FVF increase.
2) Monthly increase for subscr.
3) Discount ONLY when you get an annual subscription.
Still one heck of a bargain, but the subscription fee increase is MASSIVE in percents. But it was negligible before and still is for the larger stores.
If they in fact use a lot of the extra $$ to increase traffic everybody should win.
the higher level stores show you higher in the list of stores.
In theory that might get you more exposure and browser traffic.
ebay DEFINITELY gets you a lot more sales on the higher end stuff.
I sold prob 50 times as much in $$ on there since I started listing only 'better' stuff over $5 listing price. Only been doing this since October, but you can not beat the traffic.
Hip and eBay both have their place. I plan on watching my aging items on eBay closely and delete it when sales are too few to justify the listing fees.
But I will keep stuff here and every buyer gets a flyer. I also offer discounts here that I do not offer on eBay, thus there is a real incentive for buyers to come here, also keeping in mind that eventually I will have LOTS of stuff listed here, that is not on eBay.
John
I chose to move my selling to Hipstamp for reasons of simplicity and a lack of crazy rules that make no sense to anyone but to those that write them. Hopefully this type of update does not become a frequent occurrence. We shall see. The higher fees don't help and frankly I am not sure how effective the new Google marketing is... I am getting a lot more spammy type of emails. Will that up my return net of the new fees... again, We shall see.
Bob
you still owe sales tax. Anything you bought online without tax you are supposed to report in your tax return as use tax at your local rate.
I will stay with mo payment.
I have just looked at the new pricing for February Featured store $19.95 with a 1 year plan pay in advance or $24.95 without. Am I missing some thing can anyone explain just what we have to pay as I cannot afford to pay US $239.40
(NZ$ 370.60) I get a fortnightly pension so monthly is not to bad, even though it is more. Your comments please.
Now the new rates apply, US$24.95 per month or US$239.40 per year.
You may want to consider subscribing to the basic store as you have less than 10,000 items listed.
There is really no difference between the two plans, apart from the number of listings allowed.
Basic is US$9.95 per month or US$83.40 per year. If you ever want to exceed 10,000 listings you can then upgrade to featured.