Etsy is well known and a major player in the handmade and vintage arena with a marketplace that offers curated collections and suggestions.
Etsy CEO Josh Silverman Coronavirus letter to sellers: ‘We have your back’
Etsy CEO Josh Silverman has written a Coronavirus letter to all Etsy sellers offering support and financial help in these difficult times.
“We’re committed to supporting our sellers during these challenging times, and one of the best ways we can help is by bringing them buyers so their businesses continue to thrive. We understand these are extraordinary circumstances, and we’ll continue to stand by our sellers as this situation evolves.”
– an Etsy spokesperson
Etsy are promising to put some money behind their sellers by investing $5 million in Offsite Ads credits to promote your products. This is at no cost to Etsy sellers. For those having difficulties paying their bills, Etsy are offering a one month grace period on their Etsy invoice. Finally if you have trouble running your Etsy account the Etsy team are there to do everything they possibly can to help you keep your account in good standing 24 hours a day 7 days a week.
Josh Silverman Coronavirus Letter
“To our seller community:
We are going through incredibly trying and uncertain times. As Etsy’s CEO, I know what it means to have a business you care deeply about. We’re committed to doing everything we can to keep your business running during these unprecedented times. That’s what it means to be part of a community: the knowledge that someone has your back through thick and thin.
In addition to continuing all of our normal activities, today, we are announcing three benefits aimed at assisting you in bringing more buyers to your shops and easing the burdens of this difficult period.
We’ll invest $5 million in Offsite Ads credits
We know the importance of maintaining your momentum, so to help keep buyers coming to your shop, we will invest $5,000,000 through the end of April in Offsite Ads, which will promote your products on Google, Facebook, Instagram, Pinterest, and Bing at absolutely no cost to you.
Etsy is investing now in your growth, so you won’t see any Offsite Ads charges until at least May 1st.
We’ll give you extra time to pay your bills
There is a lot on your minds right now, so starting today we’re providing all sellers with a one month grace period, no questions asked, if you have an outstanding bill.
We have your back
These are extraordinary circumstances, which means that the unexpected can happen. If you’re having shipping challenges, delivery issues, or trouble meeting a deadline, just let us know. Our dedicated team is here 24/7 and can provide you with resources, assist you in managing through these times, and help your shop stay in good standing when challenges arise. We have your back.
I want you to know that the Etsy team is here for you and working on your behalf every single day. If you have questions or needs visit our Help Center or contact us.
Thank you for being part of the Etsy community.”
– Josh Silverman, CEO, Etsy
Well done Josh for helping Sellers in tough times. Meanwhile, at Ebay, fees have increased because now Paypal keeps all its fees for Returns.
Etsy is so far ahead of Ebay in every aspect, I feel embarrassed for Ebay.
Nah, its really a ploy they are paying for the offsite ads for a period of time. If your sales are under £10k you have the option not to use off site ads, so they are trying to lure in the smaller sellers, while the bigger shops have no choice but pay the extra fees to Etsy for offsite ads.
My opinion on this piece has not changed since it was sent to me as an Etsy shop holder. Typical hyperbolic American sleazy cheesiness. Everyone connected with Etsy, sellers, employees and shareholders are in for a massive temporary hit.
An increase in the marketing budget is pointless since the issue is that potential customers do not have the confidence and/or financial resources/ability to make purchases.
Josh Silverman, if this really is your best solution then you should be sacked for gross management incompetence. I would love to have seen your econometric modeling which led you to these actions.
What can you do to encourage sales; economic history tells us nothing. Sit tight for 6 months and preserve cash. If you want to be seen as doing something then you could eliminate listing fees for 12 months but retain or even reduce selling and transaction fees, a win win for all parties.
Watch this space for something like this to be adopted. Michael Warner of Snowpine Ltd, at your service.
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JOSH SILVERMAN IS A CORRUPT LIAR! AND THIS IS ALL BS THAT HE CARES ABOUT SELLERS. HE CARES ABOUT THE LARGE COMPANIES THAT ACTUALLY SELL ON ETSY NOT THE ACTUAL SMALL BUSINESSES.
THEY CLOSED MY SHOP ON MARCH 13TH FOR A DISCREDITED REASON, RIGHT IN THE MIDDLE OF THE CRISIS! IF Y OU ARE A VICTIM REPLY BECAUSE WE ARE GETTING ETSY SELLERS THAT HAVE BEEN VICTIMIZED BECAUSE WE FOUND A REPORTER THAT IS GOING TO EXPOSE ETSY’S REAL TRUTH!
JOSH SILVERMAN IS A CORRUPT LIAR! ETSY IS CURRENTLY CLOSING SHOPS DURING THE CORONAVIRUS!! IT IS A DISGRACE WHILE THEY MAKE $$$$. WE ARE EXPOSING THIS COMPANY WE HAVE A REPORTER INTERESTED IN DOING SO.