Are you interested in becoming a Qoo10 seller?
We started off from Carousell because it is free and easy. Then we tried Shopee, which feels like a mix of Carousell and Qoo10. Now, we are also exploring the possibility of expanding our business to become a Qoo10 seller.
Unfortunately, Qoo10 is extremely difficult to use as a seller. We have spent more than a week just to figure out how we can leverage their tools. Their seller manual is so bad that you wouldn’t want to read them. It feels like they have directly translated their manual from Korean to English via Google Translate.
Yes, that’s how bad it is. You won’t want to read it.
So if you are interested to set up a store on Qoo10, why not read what we have for you first? You know… since we have already gone through all the pain, we might as well contribute to the community.
How To Register As A Qoo10 Seller
First, you need to acquire a Qoo10 account and register that account as a Qoo10 seller. You can choose to register as an individual seller or as a business owner. If you want to use a business name, you have to register as a business owner. You do not need to submit any business license number. All you need is to upload your NRIC and bank statement to verify your identity and payout account.
Qoo10 service centre operates on weekday during office hours. If you register your store on the weekend, you will have to wait until the next business day to verify your documents.
There is no charge in setting up a shop in Qoo10. However, you will need to top-up 10,000 Q-Cash (S$ 100) before you can register your store.
What is Q-Cash?
Q-Cash is the virtual currency used in Qoo10 for sellers to purchase marketing opportunities on their platform. In another words, you use Q-Cash to buy their advertising spaces.
There are a couple of tools on Qoo10. To give you a quick sense, you can buy a space at the top of a specific search result for 100 Q-Cash (S$ 1) daily. This enables buyers to see your items before they see the rest, which can help in increasing sales.
We discuss more about this in the later part of this series.
How Much Did Qoo10 Charge For Transaction?
Unlike Carousell or Shopee, Qoo10 does not offer free transaction. Qoo10 deducts Service Fee for each transaction and the fee varies across the seller tiers. There are three tiers – Normal, Good and Power. The higher tier you are, the cheaper the service fee.
A newcomer is entitled to 12% service fee. Supposed we made a deal for S$ 10 and our shipping fee costs S$ 1, the total transaction is S$ 11. Qoo10 deducts 12% from S$ 11. We will only receive S$ 9.68 from the deal.
Total Transaction Amount = Selling Price + Optional Fee + Shipping Fee (Discounted fee is excluded)
(S$10 + S$1) – 12% = S$9.68
Is There Any Hidden Cost For Qoo10 Seller?
They do. See below.
Qoo10 Excludes Discounted Fee From Total Charge
There are tools in Qoo10 platform which you can use to “discount” your item. The caveat is you have to bear the cost.
WHATTTTT! What do you mean we have to bear the cost!
When Qoo10 says that they are excluding discounted fee from total charge, they really mean that they will make sure their service fee remains the same. Take a look at this:
Yes yes, there is no discount amount in this particular transaction. The main point is to show you guys an example of the terms Qoo10 uses.
Qoo10 Service fee depends only on Item price and Shipping rate. Supposed we gave a S$ 5 discount for a S$10 item with S$ 1 shipping cost, our total transaction amount remains as S$ 11 instead of S$ 6. The service fee remains as S$ 1.32 instead of S$0.72.
That is the cost that you have to bear if you decided to give discounts.
Qoo10 Charges GST for Service Fee
Yup. That’s right.
We couldn’t find this anywhere on their seller’s manual. This is quite a sneaky attack, eh?
Okay What Else…
That’s about what you need to know as a new Qoo10 seller.
If you are already selling on Carousell or Shopee, we suggest to go ahead try Qoo10. Despite the fact that they have many hidden costs and an almost-unable-to-understand-kind of seller manual, we have to admit Qoo10 already has an attractive and large audience readily for you.
For those who are new to online business, I suggest you start on Carousell or Shopee first to test the market. Bear in mind that Q-Cash is not refund-able. If you are starting something new, it’s always good to evaluate your items in other platforms first before going for a paid version.
Trial first and see first.
What’s Next In The Series?
We discuss more about QSM (Qoo10 Seller Management Portal) in next post.
Or if you are all ready, be sure to read our tips to increase your sales on Qoo10!