Monday, October 7, 2013
Yahoo To Stop Charging Fees For Online Sellers
TOKYO (NQN)--Yahoo Japan Corp. (4689) said Monday it will stop charging sellers using its online shopping site "Yahoo! Shopping" any monthly system fees or sales royalties from October.
Yahoo Japan is looking to strengthen its e-commerce business by reducing costs for sellers. Charging no fees makes short-term shops more viable, and the company expects the number of sellers specializing in seasonal agricultural and fishery products will increase.
Yahoo Japan will also stop charging monthly system fees for users selling items on the company's auction site.
Yahoo Japan Chairman and SoftBank Corp. (9984) President Masayoshi Son said in a talk in Tokyo on the same day that Yahoo had made mistakes and that there are cost and labor issues related to e-commerce services that need to be addressed. Son said Yahoo will make drastic changes in the e-commerce business.