Reverb on July 14 announced that it is revising its selling fee to support increased investments in the growth and long-term health of the marketplace. Reverb’s first-ever selling fee change will enable Reverb to make substantial investments on behalf of its sellers in marketing, customer support, and seller tools to attract more buyers to the site and raise the visibility of sellers’ inventory.
“Over the past seven years, our team has been dedicated to growing Reverb into a global online destination that music makers visit to discover the world’s best music shops and sellers. As our community continues to expand and players of all levels increasingly shop for music gear online, we’ve heard our sellers loud and clear, they want even more opportunities to connect with more buyers on Reverb,” said Reverb CEO David Mandelbrot. “As a crucial partner to our sellers, we recognize that now is the time to make further investments on behalf of our sellers.”
Beginning on Aug. 4, Reverb’s 3.5-percent selling fee will increase to 5 percent. This revised selling fee will enable Reverb to invest more to sustain sellers’ continued growth. This year alone, 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 Kevin Drost, Reverb’s chief strategy officer. “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.”
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