I put vacation mode on too. I don't have time to go through all my listings to revise prices, while I need to repond to multiple lowballers or ppl who want the item now because they are leaving, yet they never place an order, stuff like that.I made screenshots of all my previous sales, removed my Paypal account, and put my account on indefinite vacation.
Anyone Ever Buy and/or Sell on Tradesy?
- Thread starter iluvmybags
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I just hope they become more aggressive with the coupon codes. I'm going to stick with them STILL because of the seller protection.
I also sold a few items after the fee increase. They substantially extended time for fund withdraw. They put longer hold on the money before move it to your balance. They also wait a lot longer before they initiate the transfer to your bank account. I wonder why they are holding our money for so much longer. Are they having some issues with their running cost? I am really concerned.
I sold a few items since the increase. They held the money until after midnight on the 5th day, which is what it has been for awhile. It took a week to get the money transferred to Paypal. I have several due to be delivered tomorrow so I'll see if the wait time will be longer for those.
Thank you for always posting the codes! I never get the emails anymore.
I need a huge code though for a purchase I can't quite justify in price
totally agree about Poshmark. That site drives me nuts, I'd much rather sell on Tradesy. There is no way to shut off the lowball offers on Poshmark and there are multiple ways for buyers to lowball you- recently a bunch of people put some of my items in a bundle or some such BS- apparently I am supposed to cut them some special deal if they do that- what a waste of time! But tradesy is starting to concern me. It is taking a lot longer to get paid.... A LOT LONGER. They have good backers and a great board of directors so cash flow really shouldn't be a problem.
I learned to just ignore the low ballers. If someone makes an offer less than half my asking price I just ignore them. Some people say to counter every offer even low ones but I'm tired of playing those games. I've found that if I hold out someone will buy at asking price. I like that Poshmark sends the money on time and transfer to PayPal is usually just a day or two.
Once a low-baller, always a low-baller. Same with trolls on that site. I just block them all. There's that option.
It is actually on Tradesy that I can't do anything about it. And they send you one word offers and then send you question marks when you don't reply. It is annoy AF!
From what we observed over last couple of years and from what employees post on glassdoor, the company is mismanaged and board of directors is not fixing it. As for investors they don't throw good money on bad money, it's better to exit than keep loosing more. And they seem to be desperate about cash flow, delays indicate problems starting this Summer. Management seems to spend too much on themselves. They wanted to become profitable by the end of the year... Let's see if they still will be in business in 2018.
Well, Tradesy is a series C (late stage venture)- and most fly by night operations don't ever make it to series C. Once you get to series C, you are a viable entity.
The companies that went out completely are Vaunte (the thing founded by Gilt), Shop - Hers (bought by Tradesy) and the like. Vaunte had $2 million in venture backing, Tradesy has $75mm, Realreal has $175mm.
I don't know why Tradesy tightened up on payouts or commissions, but I suspect it is because Poshmark suddenly is claiming to be profitable, tradesy is probably under pressure - but that doesn't mean they are going under.
As far as glassdoor, that is a vehicle for disgruntled employees everywhere. Thredup is the worst.
Thank you for the numbers. My concern is, yes, they had the money but they blew it up by stupid business moves like acquiring Buyhers, getting flooded by returns from pro sellers and loosing money on cleansing their return closets and overall obsession with growth at expense of developing key areas like generating traffic, fixing search and setting business processes efficiently. Now they are paying a toll, though still afloat. In attempt to push hard in 4Q they made another stupid decision to increase commission, instead of providing more promos and boosting the sales. I have one sale on Tradesy now per 5 on Posh and per 3 on Realreal, I can go figure who is getting profitable now. It's just assumptions but I can anticipate big changes in 2018.