Etsy pledges $5m to help “businesses continue to thrive” amid outbreak
Etsy has introduced a range of new measures to help its sellers who have been impacted by the outbreak of coronavirus.
In a letter to Etsy sellers, the online marketplaces chief executive Josh Silverman announced it was investing $5 million to help “businesses continue to thrive”.
This $5 million investment will mean sellers will not be charged for offline adverts on Google, Facebook, Instagram, Pinterest and Bing until May 1st.
“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,” an Etsy spokesperson said.
“We understand these are extraordinary circumstances, and we’ll continue to stand by our sellers as this situation evolves.”
Sellers will also receive a “one-month grace period, no questions asked” for any outstanding bills.
Last month Etsy controversially announced that it will begin advertising sellers goods automatically offsite and taking a cut of up to 15 per cent on every sale.
While all sellers will be added to the programme, shops doing more than $10,000 in sales per year will be unable to opt-out of the advertising programme, which will post adverts on “high-traffic” sites like Google, Facebook and Instagram.
Some sellers have criticised the move which will charge up to three times the usual five per cent fee it takes for items sold on its site.