Shopping on Amazon is likely to become expensive from this date. All details here – Crypto News – Crypto News
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Shopping on Amazon likely to become expensive from this date (Image: Reuters) Shopping on Amazon likely to become expensive from this date (Image: Reuters)

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Shopping on Amazon is likely to become expensive from this date. All details here – Crypto News

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Shopping on the popular e-commerce website Amazon is set to get expensive from May 31 as the company will be revising its seller fees and commission charges, reports by Economic Times have stated. Moreover, the platform will also increase fees for handling product returns. It is important to note that E-commerce Businesses generate revenue by collecting commissions and other fees from the vendors who sell their goods on their marketplace.

“As part of our annual process, we have recently announced fee revisions that will be effective from May 31, 2023,” the e-commerce giant told in an emailed statement to ET.

As per the report, the company will increase the seller price in number of categories like clothes, beauty, groceries, and medicines.

“Seller fee revisions are based on a variety of factors, including market dynamics and various macroeconomic factors. For the time being, we have made changes to our fee rate card, which includes new fee categories and reduced fees in some categories,” the company’s spokesperson was quoted by ET.

As per the report, for over-the-counter medicines, the seller’s fee is expected to increase from 5.5 percent to 12 percent on products worth 500 or less while for above 500, seller fee of 15 percent is expected to be charged.

In the apparel category, the report states that the seller fees would be increased from the current 19 percent for products over 1,000 to 22.50 percent in some cases.

In addition to this, in the beauty section, the commission for products is less than 300 would be increased to 8.5 percent. Moreover, the company has also hiked delivery charges for domestically transported products by about 20-23 percent.

This all comes also amid reports of the company laying about 500 employees in India across different businesses and functions. As per the report, the process of lay off is ongoing and employees from Amazon Web Services (AWS), human resources, support functions are being laid off. The report also added that this fresh round of layoffs is part of a 9,000 jobs cut announcement that was made in March 2023. In March, Amazon had revealed its plans to cut around 9,000 jobs from its cloud services, advertising and Twitch units as recession fears loom. . The announcement was made by CEO Andy Jassy via a memo to staff mere weeks after the company laid off around 18,000 employees.

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