Winning Bizness Desk
Mumbai. There are chances that the price of products being sold on Amazon will go up after May 31, as this e-commerce giant is going to increase its selling policies. So if you've added something to your Amazon cart, order it quickly before May 31st. This fast becoming popular e-commerce website company is going to make a big change in seller fees and commission charges. Due to which it has been revealed that the price of products will increase after May 31.
It earns its income through commission
Every e-commerce online company earns its income through commission. Sellers sell their goods on online websites and in return the company charges the related goods. The company has made this change as an annual procedure. Due to this, some new rules will be implemented on Amazon's platform and due to this, the price of the products will increase. The price of products of the company's categories like Clothes, Beauty, Medicine, Grocery etc. has increased. A company spokesperson said the increase in charges was due to changing market environment and macroeconomic factors.
From 5.5% to 12%
In the pharmaceutical category, seller's duty on products up to Rs 500 has been increased from 5.5 per cent to 12 per cent, while on goods above Rs 500 the duty has increased to 15 per cent. In apparel, duty on more than 1,000 products has been increased from 19 percent to 22.5 percent. Similarly, the commission on beauty products has been increased to 8.5%. Besides, the company has increased the delivery charges on domestically transported products by 20 to 30 percent.
More than 500 people were laid off
Notably, Amazon recently laid off more than 500 employees. The company is undergoing cost cutting and layoffs from Amazon Web Services, HR and support staff. This is part of the 9,000 job cuts the company announced in March 2023. In March, the company announced it would cut about 9,000 jobs from its cloud services, advertising and Twitch units. A few weeks after laying off 18,000 employees, the company's CEO gave all of this information to employees in a memo.
