Reverb has announced its first-ever selling fee change, which the online electric guitar and gear marketplace states is being enacted to “support increased investments in the growth and long-term health of the marketplace”.
Beginning on August 4, Reverb’s 3.5 percent selling fee will increase to 5 percent.
The change will enable the company to make substantial investments on behalf of its sellers in marketing, customer support and seller tools, in order to attract additional buyers to the site and raise the visibility of inventory.
Additionally, Reverb plans to increase investments from 2019 by:
- Investing over 30 percent more in marketing initiatives aimed at getting sellers’ inventory in front of more buyers, such as making sellers’ gear more findable on Google.
- Expanding by more than 25 percent the capacity of its customer support team focused on assisting sellers and their buyers as Reverb grows.
- Increasing by more than 40 percent the capacity of Reverb’s product team focused on creating and enhancing seller tools and services to increase the visibility of sellers’ inventory.
“Dealers, gear makers, and more sell on Reverb because our marketplace gives them access to millions of knowledgeable, quality buyers and the support of customer engagement, marketing, and tech teams that are dedicated to connecting buyers and sellers,” said Chief Strategy Officer Kevin Drost,.
“Our revised selling fee will allow us to make crucial investments on behalf of our sellers while continuing to provide what we feel is the best value for our community.”
For more information, head to Reverb.com.