EBay said it will cut by up to 50% the fees it charges sellers to list their goods online, in an effort to boost listings and keep pace with other burgeoning e-commerce sites, an Associated Press report said.
The Associated Press report said to balance the fee cut, the company plans to increase its commission on items that do sell, a method the company says sellers prefer because it lowers their risk if items do not sell.
The greatest fee increase will come for goods selling for less than $25. EBay's fee for those transactions will rise 67%, to 8.75% of the final sale price, the report added.
The new fee structure, announced to a gathering of 200 of eBay's top North American sellers in Washington, goes into effect Feb. 20 in the US, the report said. More pricing changes are coming shortly in the UK and Germany, the report further said.
EBay has struggled with flattening growth in recent years and a temporary drop in the number of items for sale on its site.