Why are commissions being changed?
Dear friends, the level of commissions on Hstock for our main stores that have passed the verification process has been remaining unchanged for more than two years. During this time, our service has developed significantly: new features have been added and the number of users, and therefore the number of buyers, has increased.
Currently, more than 300.000 orders are made on the platform every month, and recently the number of users has passed the milestone of 500.000 people.
Hstock is a unique project in the sphere of account management. Now we are facing the task of scaling up in the CIS countries and entering foreign markets.
In addition, we have started to develop another segment - services. First, we have already introduced the possibility of selling goods with manual delivery, which will allow us to develop and grow in this direction.
Comparing Hstock to other services, you can see that our commission for transactions is below average. We plan to equalize it according to the market.
We realize that a sharp increase in commissions can be sensitive for store owners and buyers. That's why we decided to introduce the changes smoothly, in three steps.
Below you can see a roadmap with all the steps, dates and commission levels
Step 1
Switch date is July 5, 2024
Step 2
Switch date is September 5
Step 3, the final one
Switch date is November 5
Commission will be increased twice for unverified stores. As for the verified ones, which make up the majority on our marketplace, the commission increases significantly less. This should motivate stores to go through the verification process and increase trust on the marketplace.
In the future, we plan to divide the level of commissions according to directions (Services and Games) and subcategories (Accounts, Services, Promo Codes, etc.). This will allow us to adapt commissions to market average levels for some categories.
What global measures will allow us to make such a move
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Strengthening the team with human resources (developers, marketing specialists, support team)
We have ambitious plans to improve the marketplace, release updates and this strengthening will accelerate the process of their implementation. Let's study some of them:
-Rebuilding the catalog and page of product provision, which will allow to attract more organic traffic and increase turnover in new directions and subcategories
-Rebuilding the product page and adding a separate page for orders, which will optimize the user's purchase way, as well as increase the convenience of interaction with orders for both customers and stores
-Implementation of the promo code functionality, which will become an additional tool for attracting customers for stores and the entire marketplace as well.
-Implementation of the Chinese language for the convenience of users from China
-Implementation of multi-currency for the convenience of foreign users
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Increasing marketing expenses
-Increasing budgets for advertising campaigns to make more and more users be aware of us
-Launching a customer loyalty program to increase retention and return rates
-Launching a referral program to attract new customers
Conclusion
We are trying to complexly develop the marketplace to make Hstock a place where you can buy or sell accounts of services and social networks, as well as get or provide marketing services quickly, clearly, qualitatively and safely.
We need your support and understanding, of course. Since only together we can do it!
Do you have any suggestions to improve the platform or don’t you agree with anything?
Leave corresponding comments in this form, please, and we will certainly consider your suggestions and contact you.
