FedEx has announced that it will increase its shipping rates by 5.9% for 2024, effective January 1, 2024. This rate hike will impact sellers, especially on platforms like eBay and Etsy, as they will have to pay increased costs for 2023 holiday returns and might also see commissions rise due to increased shipping fees. Notably, this rate increase is slightly less than in previous years, where the annual increases were around 6.9%.
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Navigating the realm of inventory management just got a whole lot easier. Introducing GeekSeller’s Advanced Low Stock Alerts – our latest addition designed to keep you on top of your stock game.
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Visa and Mastercard are set to raise the interchange fees on credit card transactions. As reported by the Wall Street Journal, these hikes, particularly affecting online purchases, are scheduled to commence in October and April.
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Eligible sellers receive email notifications inviting them to explore the new Search Engine Marketing (SEM) tab on the Growth Opportunities dashboard within Seller Center. This feature enables you to create campaigns that promote your Walmart listings on Google search results using Shopping Ads.
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Big news for TikTok sellers! Starting September 12, 2023, TikTok’s old ‘Storefront’ will be gone, replaced by the sleeker ‘TikTok Shop’. This new feature offers easy in-app shopping with cool tools like shoppable videos. If you’re selling on TikTok, act fast! Register for TikTok Shop, and manually move your products over from Storefront. Don’t wait – the deadline’s approaching!
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Amazon has revealed a change to its Seller Fulfilled Prime (SFP) program, introducing a 2% fulfillment fee for members (before, participation in the program was free). The tech giant cites the need to offset the costs of developing and managing the SFP program as the reason behind this fee implementation. In addition to the new fee, Amazon has announced that it will reopen new seller enrollment for the SFP program in the US on October 1, 2023.
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Amazon recently shared updates regarding its Holiday Peak Fulfillment Fee for the FBA program. This annual fee will be effective from October 15, 2023, to January 14, 2024. Aiming to cover the augmented costs of fulfillment and transportation during the bustling holiday season, this fee aligns with those other leading carriers impose. Notably, the 2023 Holiday Peak Fulfillment Fee rates will remain the same as those of 2022 for both the US and Canada FBA. Even after accounting for this fee, Amazon’s fulfillment charges are still approximately 30% more affordable than the slower standard shipping options of other primary third-party logistics entities.
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Starting September 8, 2023, Etsy is rolling out a revamped policy to boost child safety in its product listings. This initiative aims to prevent potential misinterpretation or misuse involving minors.
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Persistent drought conditions in the Panama Canal have led to severe drought restrictions, causing shipping delays and additional transit surcharges. The Evergreen ship had to offload 1,400 containers to navigate the canal. These challenges may force US importers and sellers to reevaluate their shipping strategies.
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