It gets even better. Taobao is so large now, they
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Posted On: 12/14/2021 8:51:33 PM
It gets even better. Taobao is so large now, they don't even charge a transaction fee for Taobao Live except to cover the payment cost.
What? Is that a 'concern'
They make money 'other' ways
A big one is selling ads. Some of you heard me talk about that from day one maybe Verb will eventually do that and with Market, they will be selling ad placements I believe from what the company said. You can give 'stuff' away for free sometimes because ad revenue can be enormous. That is why google search is free as one example.
"Considering how many transactions Taobao handles on an annual basis, the platform does not charge sellers or buyers a transaction fee.
Instead, it makes money by offering SEO-like advertising to sellers in much the same way that Google does. With more than 1 billion product listings spread across 8 million sellers, there is high competition between merchants to get the attention of buyers.
Merchants can choose between pay-for-performance or display marketing ads."
Another one is charging people for opening up a storefront and then they take 5% of sales.
"As a real-world example, sunglasses retailer Lemon Optics paid a fee of around $25,000 to become verified and establish a shopfront on Tmall."
Verb fees when they were beta testing were 8-12% depending on the sales total during a LIVE event. 5% similar to Taobao outside the Live event.
Plus a credit card transaction fee.
Glad Verb is taking their time, doing it right and not on the BWers's agenda. The revenue potential is staggering.
https://fourweekmba.com/how-does-taobao-make-money/
What? Is that a 'concern'
They make money 'other' ways
A big one is selling ads. Some of you heard me talk about that from day one maybe Verb will eventually do that and with Market, they will be selling ad placements I believe from what the company said. You can give 'stuff' away for free sometimes because ad revenue can be enormous. That is why google search is free as one example.
"Considering how many transactions Taobao handles on an annual basis, the platform does not charge sellers or buyers a transaction fee.
Instead, it makes money by offering SEO-like advertising to sellers in much the same way that Google does. With more than 1 billion product listings spread across 8 million sellers, there is high competition between merchants to get the attention of buyers.
Merchants can choose between pay-for-performance or display marketing ads."
Another one is charging people for opening up a storefront and then they take 5% of sales.
"As a real-world example, sunglasses retailer Lemon Optics paid a fee of around $25,000 to become verified and establish a shopfront on Tmall."
Verb fees when they were beta testing were 8-12% depending on the sales total during a LIVE event. 5% similar to Taobao outside the Live event.
Plus a credit card transaction fee.
Glad Verb is taking their time, doing it right and not on the BWers's agenda. The revenue potential is staggering.
https://fourweekmba.com/how-does-taobao-make-money/
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