We’re ecstatic to announce that if your Artist Shop is opted into Managed Pricing Promotions, you’ll never earn less than 10% of the sale price during promotional events! In fact, oftentimes you’ll earn more. Whenever we run a sale or promotion in your shop and/or the Threadless Marketplace, you’ll now receive higher minimum earnings across the board when the promotional price of an item drops below the base fee. This will significantly increase your Artist Shop earnings!
Who inspired this change?
YOU. Since launching Managed Pricing and Promotions in 2019, we’ve collected feedback from our community of Artist Shop owners, particularly on how earnings work during promotional times. Your helpful feedback triggered the first major earnings increase back in July, when we switched from the $1 minimum earnings system to a new tiered system based on price ranges your products fell into.
Now, this most recent update puts even more money in your pocket! For example, during the $15 Regular Tee promotions we commonly run, you would have earned a minimum of $1 per tee sold in the tiered system—but now you’ll earn $1.50! Review the chart below for a more detailed comparison between the new and old earnings systems.
What you need to do.
Nothing! This change is automatic for all Artist Shops opted into Managed Pricing Promotions, so you don’t have to take any extra steps to collect your increased earnings. If you haven’t opted into this feature and would like to, it’s super easy to activate. Just go to your shop’s settings and switch on “Let Threadless manage my Artist Shop’s pricing and promotions.” After that, continue doing what you already do—create art, promote, and sell! And, same as before, you will still earn the difference between the sale price and the base fee during non-sale times.
What you should do.
Always spread the word when there’s a sale happening in your Artist Shop. According to Statista, e-commerce has already accounted for $4.6 trillion in retail sales in 2020. Experts predict the annual revenue to climb to $6.5 trillion by 2023. As online shopping continues to rise to unfathomable proportions, promoting sales in your shop attracts prospective purchasers and establishes your brand. Here are just a few Creative Resources that help you connect with your followers and maximize your success during promotional times:
- The Foolproof Guide to Email Marketing for Beginners
- 7 Ways to Grow Your Business with Social Media
- Add New Designs and Promote them Frequently for Artist Shops Success
- How Managed Pricing and Promotions Helps Artist Shop Owners