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Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.
*** Because $5 bucks makes any real difference ***
“Early in November, Etsy CEO Josh Silverman had told Wall Street investors that Etsy was experiencing an increasingly competitive retail environment with a very heavy emphasis on deep discounting.”
Etsy does not want to deal with the reality they created…
Sellers on Etsy need to keep prices high in order to fulfill the crazy “Offsite Ad Fees” imposed on Sellers if Etsy claims that Etsy was able to find Buyers outside of Etsy.com.
Etsy needs to get rid to the hyper inflated fee of AN ADDITIONAL 12%, on top of the already 9.5%, that Etsy claims as their fees which includes fees for credit card processing.
If Etsy fees were lower, Sellers would reduce prices which could then compete with general retail.
Back in 2021, Etsy got greedy in order to purchase other companies that have been overall failures for Etsys “bottom line”. And now, Etsy is paying “big time” for the decisions made by their Marketing Department.
Etsy…Lower your fees for Sellers!