Etsy is once again running a Cyber Monday promotion in which it is giving shoppers $5 off on a purchase of $25 or more, although last year shoppers had to spend $30 to receive the discount. The marketplace sent an email to shoppers on December 2nd with the subject line, “CYBER MONDAY SURPRISE: EXTRA $5 OFF!”
Etsy notified sellers on Sunday but apparently did not provide details that it was funding the promotion, as some sellers panicked fearing the $5 discount would come out of their pocket, which is not the case.
Today’s email read as follows:
TODAY ONLY: SAVE AN EXTRA $5!
Make Cyber Monday more magical: Use code CYBER24 to get $5 off EVERY $25+ order—including picks on sale!*
The email featured a “Shop Now” button and included the following details: “Ends December 2, 11:59 PM. Min. $25 order (excl. taxes and shipping). Only shops that accept Etsy Payments. See terms.”
This February 11th blog post lists Etsy’s past funded promotions along with CEO Josh Silverman’s assessment of the various offers it tested – a $5 off $25 promo worked well, but a $10 off $40 promo did not work as well, “pulling forward sales as much as it increased sales,” he said.
*** Trump vs. Harris ***
I told my family that if Trump were to win the election, those who voted for Harris would hold onto their money in fear of what Trump would do in his next term.
Sure enough, the signs are already there…
Yesterday, I read an article that said that there is an overall reduction of retail sales coming from the Blue states compared to sales coming from Red States.
I’m a jeweler on Etsy. Since the Election Day of November 5th, activity for artisan jewelers got “really” quiet; during a time that is typically very active. Etsy sees the signs and they know this holiday quarter will not be a blowout they were hoping for.
Contraction in the retail market will be much more than an uptick in inflation. When those with money decide to put their money into “Savings” instead of “Checking”, it’s time to worry….