Trade Me has recorded a $138 million write-down on the value of its core marketplace business, reflecting ongoing declines in revenue and subdued growth prospects as consumer spending weakens.
Financial results for parent company Titan Parent show the goodwill value of the marketplace unit was cut almost in half, from $275 million to $137 million, after revenue fell to $66 million in the year, down from a peak of $90 million in 2022.
A Trade Me spokesperson told legacy media (paywalled) the cost-of-living pressures have dampened discretionary spending, while growing competition from low-cost overseas retailers is also reshaping buying habits.
Although the marketplace has struggled, Trade Me’s classifieds businesses, including property, jobs and motors, remained resilient, helping lift overall classifieds revenue slightly to $375 million. Titan Parent reported a net loss of $113 million for the year, compared with a profit a year earlier, while the value of Trade Me’s marketplace brand was held steady at $177 million.
What do they expect when TradeMe ban VPN’s.
Nobody has got any discretionary disposable income to spare
That is the basic fundamental underlying cause and crux of the matter
Once You get screwed at every possible conceivable point in time there’s not much left over
Maybe reduce your success fees to peraonal accounts from 7.9% on items up to $500.
Maybe don’t have a fee of 4.9% on afterpay items – normal shops don’t add on a fee for afterpay that I have noticed.
And 11.9% fee to business accounts selling antiques, art or clothing
Yes greed is the elephant in the room
I agree with all comments here, however trademe since its inception in the early 2000s has been a godsend for many traders and it would be a dark day if it were to fold. Many people are choosing to sell on facebook market place as the costs on trademe are exorbitant. When trademe started up the fees were dead cheap and was the reason for their success, but as time has gone on the running costs, with big salaries, and more staff etc have turned it into a milking machine.