|Sun May 22 2022 08:56:52|
Etsy Plans New Program to Beef Up Buyer Protection
By: Ina Steiner
Etsy told Wall Street investors it was developing a new program to reassure shoppers that "we have buyers' backs" on non-delivery and not-as-described claims.
Etsy Chief Financial Officer Rachel Glaser was speaking along with Etsy CEO Josh Silverman at the Needham Technology & Media Conference on May 16, 2022 when she made the following remarks:
"One area that we still have more work to do is, what happens when something goes wrong in the shipping - the item doesn't ever show up, or the item arrives and it's damaged.
"We do have a support process to support those claims, but for the most part, we send buyers back to the seller to figure out where their item went, and most sellers will work with the buyer to make it right. But not always.
"And so we're now investing in what we think is necessary to really enforce out trusted brand concept. That we have a buyer's back.
"And so we haven't given a lot of details on this program, but it is one of the areas that we're investing in. You'll see it in the investment we make in our Trust & Safety organization; you'll see it the investment we make in the product itself; and you'll see it in marketing so that we can communicate to both buyers and sellers that we have this purchase protection concept."
We can't help noticing Etsy has copied many policies that eBay had instituted along its history. Do you have indications of what Etsy could be planning, and how it will play out for sellers?