Why are people boycotting Etsy?

Thousands of sellers on Etsy are going on strike, protesting the e-commerce platform's decision to hike transaction fees from five to 6.5 per cent. Etsy argues the fee increase will help the company invest in marketing and expand support staff.

Why are Etsy sellers going on strike?

Thousands of Etsy sellers are on a weeklong strike to protest a recent hike to transaction fees, and other changes. Kristi Cassidy, the strike's lead organizer, and other Etsy sellers are now considering forming a union.

Why are sellers leaving Etsy?

The shop owners are protesting a number of business changes Etsy has made over the past few years that sellers say have degraded the platform and made it harder for them to run their businesses and earn a profit.

What is the Etsy boycott?

Graphic: Etsy Strike. On Monday, thousands of Etsy sellers put their shops on vacation mode and asked customers to boycott Etsy stores, kicking off a weeklong strike against higher transaction fees on the platform.

Why is everyone mad at Etsy?

Etsy sellers are urging people not to click on ads, and many are considering leaving the platform altogether. Etsy sellers are furious about the website's new advertising scheme, which will impose huge fees on some sales.

My Thoughts on the Etsy Boycott/Strike

Why is Etsy terrible?

The bulk of Etsy's listings are handmade goods and their rules are extremely restrictive. The problem with having to hand make your own goods for sale is that you can only produce so many products in any given day. Basically, you are limited by your own production facilities.

Is Etsy in financial trouble?

Based on the latest financial disclosure, Etsy Inc has a Probability Of Bankruptcy of 9.0%. This is 78.26% lower than that of the Consumer Cyclical sector and significantly higher than that of the Internet Retail industry.

What can I do instead of Etsy?

Whats the Etsy strike about?

When Etsy raised its transaction fees by 30 percent, its sellers went on strike. Discontent over executive bonuses and other company management issues is still simmering.

What is the Etsy strike about?

Amid a wave of union organizing at companies like Amazon and Starbucks, the Etsy sellers strike is actually about marketing. Thousands of Etsy sellers went on a weeklong strike on April 11 to protest an increase in the transactional fees the marketplace charges for sales through its platform.

Is Etsy owned by eBay?

Etsy does not professionally partner with other sites such as Facebook, eBay, or Amazon.com. Because they are their own parent company and owner, Etsy has a lot of freedom about how they want to operate their business and how they want to change the market scape for themselves.

Should I close my Etsy shop?

If you truly feel that Etsy has nothing to offer you, closing your shop is a good idea to prevent owing Etsy listing fees and money when you don't have sales coming in.

Is Etsy still a good place to sell?

Selling on Etsy is worth it in 2022 because it's one of the quickest, cheapest, and easiest ways to get your handmade products online and hooked up with a shopping cart function. It's also a low-risk option when compared to building a website.

Why is Etsy taking so much money?

Etsy charges sellers money so they can cover their fees for website hosting, website maintenance and growth, marketing, customer service, and costs associated with conducting transactions, collecting payments, and transferring funds.

Why these Etsy sellers are leaving for Shopify?

Etsy sellers are leaving the app for ecommerce platform Shopify despite Etsy recently becoming the second biggest ecommerce platform after Amazon. Sellers say that the selling fees, competitive search results and Shopify's new badge programme were factors in their decision.

Why thousands of Etsy's sellers including me are on strike?

Even with these earnings, Etsy announced a 30 percent seller fee increase–from 5 percent to 6.5 percent. Fees charged to Etsy's artists and craftspeople have more than doubled over the last four years, but these percentages are just part of the reason that sellers are striking.

What is the future of Etsy?

The top online marketplace for unique goods still has major growth potential ahead. Although Etsy (ETSY 3.40%) reported fourth-quarter 2021 financial results that beat Wall Street's estimates on both the top and bottom lines, the stock has lost 40% of its value this year.

How much of a cut does Etsy take?

Once an item sells, there is a 6.5% transaction fee on the sale price (including the shipping price you set). If you accept payments through Etsy Payments, we also collect a 3% + $0.25 payment processing fee when an item is sold.

Who is Etsy's biggest competitor?

Etsy competitors include Alibaba Group Holding Limited, Flipkart, Amazon, eBay and Bonanza. Etsy ranks 2nd in CEO Score on Comparably vs its competitors.

How much does the average person make on Etsy?

How Much Does The Average Etsy Seller Make? The average successful seller on Etsy earns between $43,000 and $46,000 per year which is a fantastic foundation to build on as top earners make over $65,000 per month!

Can I sell my Etsy shop?

If you have sold the business you run on Etsy to someone else, you can't transfer your Etsy account to the new owner. Instead, the new owner must open a new Etsy account and shop. We recognize that it's not uncommon for a small business owner to buy or sell a business.

Is Etsy stock a buy?

Given its three-year revenue compound annual growth rate (CAGR) of 57%, Etsy has enjoyed robust top-line growth in past years. Not only that, the company's earnings per share went from $0.76 in 2019 up to $3.40 in 2021.

Why are so many Etsy shops in Ukraine?

Many artists are now selling instant digital downloads as a way to generate income. It's never been more critical for artists in Ukraine to make sales, which is why Etsy is making it easier than ever for people to purchase digital downloads that don't require physical order fulfilment or shipping.

Are there Etsy millionaires?

Alicia Shaffer, often referred to as Etsy's richest seller, made numerous headlines for raking in $70,000 a month in sales. In 2015, her shop, Three Bird Nest, earned nearly $1 million on the platform.