Created as an alternative to more corporate eCommerce sites, Etsy is a peer-to-peer (P2P) website where users buy and sell handmade crafts, vintage items, art, and photography. The online marketplace works similarly to Amazon and eBay, only with an emphasis on unique items rather than mass-produced merchandise.
Since its IPO in 2015, it has managed to hold its own in an increasingly competitive eCommerce industry, including from Amazon's handmade section that launched in 2015. Further, by providing sellers with ownership over pricing and branding, the site is attractive for those wanting to set up a business on an established platform.
However, the seller-side of Etsy is not without problems. The recent hike in transaction fees and the introduction of mandatory marketing fees for artists with high turnovers has created significant discontent amongst sellers. Etsy must reconcile these issues to ensure artists continue to operate on the same scale within the platform. It plans to attract shoppers with its message of extraordinary, handmade and affordable products.
Freddie
Company Specialist at Welcome to the Jungle
