Dive Brief:
- Ahead of the busy holiday season, Etsy touted three initiatives aimed at making "it easy for buyers to discover and shop from the best possible listings from independent sellers,” according to a company post on its website.
- The company highlighted its Purchase Protection program, which promises to deliver products on time or offer customers a refund. Etsy said it is also expanding protections for sellers this holiday season by covering the cost of refunds on more qualifying orders.
- Etsy also said it is introducing a deal "hub" exclusively on its app to showcase personalized deals throughout the season. Additionally, the company recently grew its team of style experts, which curate “Etsy’s Picks” for customers, and hopes to expand the number of Etsy's Picks tenfold by the end of the year.
Dive Insight:
As holiday shopping ramps up, Etsy is promising to deliver gifts on time this season through its Purchase Protection program, while expanding protections it offers to sellers as well.
The company covering the cost of refunds for sellers, helping to ensure they keep their earnings. Last year, the company announced it would invest at least $25 million each year to cover the cost of these refunds up to $250. The policy guarantees customers will receive a full refund if an item that doesn’t match its description, arrives damaged or never arrives.
Etsy is also doubling down on holiday sales this year. The company ran a site-wide sale in September and a discount promotion in October to kick-start holiday shopping on the platform. Etsy said it will also hold a cyber sales event in November.
Personalized deals from the company are exclusive to the Etsy app. The deals are curated based on shoppers’ preferred vendors and other sellers in the marketplace.
The company is also releasing a holiday collection with John Legend and a curation of favorites from Martha Stewart, according to a company video.
But Etsy may be facing greater competition this holiday season. Following last year’s Etsy strike, Artisans Cooperative this month launched an online marketplace. The group consists of crafters previously on the platform who spoke out against Etsy’s business practices, like raising sellers’ transaction fees and catering to mass merchants and resellers over smaller creators.
