Eye on the Blog: Good-Bye Xstreet Freebies

The Xstreet SL Experience:

The Xstreet SL Marketplace is not meant to provide a replacement or even identical experience to that of shopping in-world. Instead, it serves as a specialized shopping experience which makes shopping & selling easier and different in many ways. All of our research and your feedback demonstrates that. Since it is clear that the increasing quantities of free, cheap and stale goods are hindering that experience for shoppers and merchants alike, we will take action to counteract and balance them within the marketplace, for the benefit of all. To be clear: we believe in a free marketplace and will not implement price controls on what merchants can charge for their goods.

The Roadmap:

We will enact the following new controls for the Xstreet SL Marketplace within 90 days, with at least two weeks' notice, in order to improve the shopping experience:

Monthly Listing Fee for Freebies of L$99:

• Listings for free items will now be treated as a marketing/promotional tool and thus will have a price.
• L$99 is the price of our least expensive listing enhancement and so we will start there.
• Depending upon desire for this marketing opportunity and perceived value given such demand, we will adjust the price as necessary to maximize this value and keep the freebie listings from becoming bloated again.
• Expected Delivery: 30 - 60 days
  

Minimum Commission of L$3 on all items priced L$1 or greater:

• We will enact a minimum commission of L$3 on all sales of non-freebie listings.
• Since Freebie listings are now considered marketing and are charged as such, they will not incur this fee.
• A L$3 commission will raise the commission on all listings under L$50. This was a range suggested by residents, but it turns out that this is the price range where there is a very high transaction volume and low commission income which combine to cover the costs of those transactions.
• We may adjust this minimum commission as we see its effects on the marketplace. L$3 does not cover the full cost of a transaction, but the goal here is first to manage freebie growth first.
  
• Expected Delivery: 30 - 60 days
  

Monthly Listing Fee of L$10 for all items L$1 or greater:

• All non-freebie listings will now be charged L$10 per month to remain listed in the Xstreet SL Marketplace
• Currently, less than 20% of Xstreet SL listings make at least one sale per month. This displays just how much clutter of unsold items exists on Xstreet SL.
• Doing this will provide an incentive for merchants to remove listings which are not selling, while keeping this fee low enough to have a minimal effect on listings which are selling and are desired by shoppers.
• By reducing the overall number of listings on Xstreet SL, the shopping experience will drastically improve which will please our shoppers and be a boon to the business of all of our merchants.
• Expected Delivery: 60 - 90 days
  

Separate freebies into their own category:

• There is already a freebie section on Xstreet SL. This section will become the place to browse for new freebies.
• We will remove free listings from the browsable categories and keyword search results on Xstreet SL.
• Expected Delivery: 60 - 90 days
  

Timeline:

• We will provide at least 2 weeks notice before releasing any of these changes.
• We expect to enact these controls within the time window 30 - 90 days following this roadmap announcement.

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Read more in the complete blog post by Colossus Linden Here, or join the discussion Here.