A question posed to [URL removed] Why is Bonanza Destroying their Business..

From [URL removed]

Bonanza’s self-inflicted wounds, such as controversial shipping fees and heavy-handed moderation of seller feedback, have damaged trust in the platform and contributed to its struggles. Additionally, Bonanza is increasing fees, including a rise from a 3.5% commission to 11%, which could further discourage sellers.

1. Low Traffic & [URL removed]
Many sellers report low sales volume, even after being on the platform for extended periods and trying various promotional options.
Some sellers feel Bonanza doesn’t do enough to attract buyers to the site, requiring sellers to heavily rely on their own marketing efforts.
A lack of traffic and sales is a major deterrent for sellers, who are crucial for the marketplace’s success.
2. Fee Increases & [URL removed]
Bonanza has increased its Final Value Fees (FVF), raising concerns and causing some sellers to consider leaving the platform.
The introduction of a $2 shipping assessment for sellers who don’t use Bonanza’s shipping program has been criticized as a way to force sellers to use their services.
Listing fees for sellers with over 50 active listings may further deter some sellers, especially those with a large inventory.
3. Seller Concerns & Negative [URL removed]
Some sellers have reported account closures without clear explanations, leading to frustration and mistrust.
There are claims of fraudulent activities and scams on the platform, potentially harming the marketplace’s reputation and deterring buyers.
Complaints about customer service and lack of assistance with seller issues have been voiced.
4. Comparison to [URL removed]
Bonanza faces stiff competition from larger marketplaces like eBay, Amazon, and Etsy, which have stronger brand recognition and larger customer bases.
Etsy is seen as a better option for handmade and artisan goods, while Bonanza may struggle to differentiate itself and attract a dedicated niche.
Amazon and eBay offer a wider range of products and seller services, potentially overshadowing Bonanza’s offerings.
5. Declining [URL removed]
One report indicates that Bonanza’s revenue declined by 18% over a three-month period, suggesting a downward trend.
While Bonanza’s revenue was reported at $4,259,799 with a conversion rate of 1.50-2.00%, its performance falls far below larger competitors like Amazon, which generated billions in revenue, according to gripsintelligence.com.

I have ended all of my listings as I won’t be paying a monthly fee to maintain my listings. This after 15 years. My eBay sales average $2000 mthly and have for years. While I have appreciated the occasional sale I have received on Bonanza it has only amounted to one or two every couple of months. I’ve been reselling since 1997 online and in storefronts. Whenever I have mentioned Bonanza to the MANY vendors I have know through the 15 years I’ve been on Bonanza, up till now, they have NO idea what/who Bonanza is. Bonanza has never marketed their website the way they should for their vendors. And now they’re expecting people to pay a mthly fee when the CONSTANT here has been NO SALES. Go figure.