random fashion thoughts

[Arkady]

Nah retention isn't an issue for a product like this when the initial feature set was so minimal -- if they were subtracting from the original offering and getting rid of blocking it may have a significant effect, but churn is not a concern here. They may add it in as a nicety, though.

They've been running it in beta to identify their user acquisition cost, among other things, which is driving the specific percentage they settled on.

They certainly don't give much of a shit about seller quality as that's not a quantifiable KPI past the feedback mechanism, which is not particularly useful due to some cognitive bias issues etc. I think the whole point of the revamp was to position the products as if they're pre-curated and let the broader market do its job.

[TriggerDiscipline]

that actually turns me off from grailed, along with the shit low balling taking another 6 percent something I already madly discounted and will have a dissapontment of a sale at the end of the day was the nail on the coffin for me.

[Faust]

I don't know why people are surprised over this. They have to make money - it's not a charity. I love how entitled everyone has become. Incredible.

[Nickefuge]

I don't know why people are surprised over this. They have to make money - it's not a charity. I love how entitled everyone has become. Incredible.

It’ almost like they have to pay people to design and program the website ... wait a minute.

[vtlynch]

Wow Grailed is absolutely flooded with new listings! Everyone is trying to get their listing up before the fees kick in, but I imagine prices will now drop more than the fees are going to cost due to the influx of items.

[Faust]

What was it I said about entitlements? Fucking cheapskates. People are poison.

[En.]

Wow Grailed is absolutely flooded with new listings! Everyone is trying to get their listing up before the fees kick in, but I imagine prices will now drop more than the fees are going to cost due to the influx of items.

Some of the users are listing their items just to have them up before the fees without any intent of selling them yet.

[Fuuma]

I don't know why people are surprised over this. They have to make money - it's not a charity. I love how entitled everyone has become. Incredible.

6% is an enormous percentage, would this be acceptable in any other field beside apps/new economy?

[Arkady]

Ebay takes a final value fee of about 10% on clothing, depending on sale price. Something like Moneygram easily takes up to 20% on a simple currency exchange / transfer. Most auction houses take 20% on the first $100,00 and something like 10% on the rest. Agents for money transfer and microinsurance take up to 40% on collected premiums or wiretransfers in unbanked parts of the world, which accounts for 2 billion people.

[Fuuma]

Ebay takes a final value fee of about 10% on clothing, depending on sale price. Something like Moneygram easily takes up to 20% on a simple currency exchange / transfer. Most auction houses take 20% on the first $100,00 and something like 10% on the rest. Agents for money transfer and microinsurance take up to 40% on collected premiums or wiretransfers in unbanked parts of the world, which accounts for 2 billion people.

Ebay is new econ. Auction houses and other services like these are quite a different matter and provide various services besides the auction itself. Not comparable to anything except some shylock third-world money transfer, yeah.

[Arkady]

You said any other field, no? Moneygram's hardly third world and Western Union etc. have similar rates. 6% isn't egregious for the value proposition.

Every purchase conducted through Grailed is eligible for both PayPal and Grailed Buyer and Seller Protection. If there is an issue with a transaction the Grailed Protection team will assist you in filing a PayPal claim and provide PayPal’s fraud team with all relevant information. With our assistance PayPal resolves claims speedily and effectively. In the rare instance the case is decided unfairly, both buyer and seller are fully covered by Grailed and we will reimburse the affected party.

[TriggerDiscipline]

(at the risk of coming off ignorant)

from my understanding and without being rude, is that those services are usually
targeted to a low income crowd? I am not sure I know anyone who uses Western Union or Moneygram vs bank transfer and paypal.

[deadboy]

Consignment shops, the old economy equivalent of Grailed, take like 50% of an item's final sale price.

[naturalalmonds]

Consignment shops, the old economy equivalent of Grailed, take like 50% of an item's final sale price.

Consignment shops also provide services like a physical location, marketing, retail staff, and in the case of ecommerce, product shots, customer service, shipping service, etc. They're a full service operation.

Grailed charging 6% would be like Craigslist taking 6% of that lawnmower you just sold. Grailed costs money to run, absolutely. There's development costs associated with creating the site, hosting fees for running it, people to deal with moderation issues, and then they make some claim about fraud protection, but I don't know how that's different than PayPal's defacto fraud protection. Grailed should be flat fee/capped fee on their end.

[Nickefuge]

Honestly, I think 6% is absolutely fine.
Grailed (auto-correct suggests "Grilled") is run by people who put effort and time in it. I know I wouldn’t do any of this for free.