Fiverr was founded in 2010. Over the past decade, due to inflation, the real world value of $5 has decreased to $4.03. Let’s keep it simple and call it $4.
SOURCE: https://www.usinflationcalculator.com .
In other words, sellers who charge $5 in 2020 are receiving a fifth / 20% less income today when compared to a decade ago, despite the cost of living increasing. Imagine working a 9-5 job for 10 years and not having a single pay rise while seeing your income fall to 80% of its original value.
I’m simply wondering how sustainable it is for sellers to continue advertising $5 gigs? For example, if inflation continues along a similar path, in another five years that $4 today will only be worth $3.50 - and that’s before Fiverr commission, exchange rates, and local taxes are accounted for. While five years in the future might feel a long time away, I’ve been selling here for nearly eight years - time goes quickly.
I’ve personally got to a point where I want to increase my prices - but so many of my competitors (many of whom are very good at what they do according to their feedback) are still charging the same as me or less. In some cases much less.
It feels like the majority of sellers haven’t kept up with the times and are simply doing the same thing in 2020 as they were in 2010 - but times have changed.