Hello! Storenvy recented implemented some drastic changes to its website! Please be wary of them! I typed up a quick post to inform on what these changes mean for sellers and buyers!
USING PAYPAL INSTEAD OF STRIPE
Starting last week, Storenvy started to implement Stripe as their default payment processor. If the customer chooses to pay using credit card directly on Storenvy instead of signing in through Paypal to do so, the payment will be processed through Stripe. The advantage is seamless checkout without having to be redirected to a third party site such as Paypal. This is not only for sales made from Marketplace store, but also a seller’s custom store. The problem being, if a customer does this, the seller has to activate Stripe with his/her bank information or Stripe will withhold the funds. Meaning, the seller is unable to access the payment if they do not sign up for Stripe and therefore cannot confirm if that payment is received. As I am using Paypal already to manage my finances, the rollout of this new feature is not appreciated and does nothing but stress me out as I try to navigate a new interface that has important financial information.
Also Stripe is limited to only a few countries, which means there are a lot of shops that are automatically removed from Marketplace because Stripe is not available in the seller’s country. Seriously.
If you are going to buy something through my store, please use Paypal instead! You can still enter credit/debit card information and while it does redirect you from storenvy, the seller can confirm that the payment is received for your order!
MARKETPLACE STORE COMMISSION
Another thing, if a customer buys something through your Marketplace store, Storenvy will take 10% of the profit and this includes shipping. Adding on top of Paypal seller fees, the seller loses 15% of the original sale. Understandably, as a company, Storenvy need to make money; however, seeing as a lot of products on Storenvy are handmade and are often less than $10, this is very unfair. Storenvy is not like Society6 that helps individuals create the product, pack and ship the product. The seller does everything from making the product to shipping the product themselves. So the commission fee is a ridiculous blow to the creators’ profits!
How to remove marketplace listings
There are a lot of ways to prevent Storenvy from taking the 10% from your sales. This will unfortunately decrease your exposure to a bigger customer base as your products will not be listed nor be searchable on Storenvy.
1. You can close Marketplace Store altogether.
▶ Go to your Merchant Admin Panel at the top you can see both “Marketplace Store” and “Custom Storefront” listed. The green light means the store is currently open.
▶ Click on the gear symbol next to it or simply the Marketplace tab on your dash. It should direct you to your Marketplace store’s statistics. Click on the “Open” tab to close your Marketplace store.
2. Manually Removing Products
Let’s say you still want to list some items on marketplace but remove others, such as smaller less expensive items that would be affected more by the 10% commission fee.
▶ Got to Products and edit the product details. There is now a new tab on the left hand column that says “List in Marketplace.” Toggle it on or off.
I think storenvy is a good site to start up your own store but please be wary of all these new changes!!
SUPPORT SELLERS AND THEIR CUSTOM STORES
It is very important to support sellers and their custom stores. Apparently, the custom store button is no longer visible when customers are browsing stores on marketplace. Meaning, they are more likely than ever to make a purchase through a seller’s marketplace store.
What sellers can do is write something along the lines of “If you are currently viewing this store on the Storenvy Marketplace, please visit my custom store at “_____.storenvy.com”. All prices and products are the same, and all of the proceeds go to the artist!” as their Marketplace description and link to their custom store.
ALTERNATE WEBSITES TO SELL ON
There also other alternatives but most are pay per listing or pay more to list more:
Etsy : It’s only $0.20 to list an item for 4 months or until it sells with 3.5% fee on the sale price.
Zibbet : List and sell with no fees up to 10 items or do $4/mo for 50 items and $8/mo for unlimited items.
Weebly : Provides different monthly plans. They are not a storefront and therefore you would have to code your own store and manage it.
Shopify : Basic plan 29/mo for unlimited products 1 GB storage; or 79/mo for unlimited products 5GB storage; or 179/mo for unlimited products and storage.
Squarespace : Provides different monthly plans. They are not a storefront and therefore you would have to code your own store and manage it.
BigCartel : Free with 5 products or 9.99/mo for 25 products, 19.99/mo for 100 products or 29.99/mo for 300 products.
Hopefully this post has been helpful! Thank you for reading!