Etsy

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Etsy logo

Etsy is an American e-commerce website focused on handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. All vintage items must be at least 20 years old.[1] The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item.[2]

The platform generates revenue primarily from three streams: its Marketplace revenue includes a fee of 5% of final sale value, which an Etsy seller pays for each completed transaction, on top of a listing fee of 20 cents per item; Seller Services, Etsy's fastest growing revenue stream, includes fees for services such as "Promoted Listings", payment processing, and purchases of shipping labels through the platform; while Other revenue includes fees received from third-party payment processors.[3]

Supports to Black community

Famously known as a marketplace that sells unique, vintage, and handmade products, Esty started to create highlight on selected black-owned shops as their support toward the black community. According to the Esty's website, they also donated $500,000 to the Equal Justice Initiative and $500,000 to Borealis Philanthropy's Black-Led Movement Fund.[4] Etsy announced a total contribution of $1 million in an Instagram post.[5]

Etsy Instagram Post

Etsy is also helping customers more directly support the Black makers and designers on its platform via a curated editors’ picks page. Head there to start shopping: From Omi Woods’s beautiful dainty jewelry to Netherlands-based Studio Nom, which is offering a virtual bottle-making class, there’s a lot to peruse.[6]

References

  1. Vintage Items on Etsy. Etsy. Retrieved February 1, 2021.
  2. Walker, Rob. Handmade 2.0. nytimes.com. Retrieved February 1, 2021.
  3. Alibaba video, Etsy IPO All You Need To Know. April 2, 2015. Retrieved Feb 2, 2021.
  4. Harrison, Jamle. Support Creatives By Buying from These Black-Owned Etsy Shops. February 17, 2021. shape.com. Retrieved March 25, 2021.
  5. Livingston, Mercey. These are the major brands donating to the Black Lives Matter movement. June 16, 2020. cnet.com. Retrieved Feb 1, 2021.
  6. Leavitt, Elly. How Etsy Is Supporting the Black Lives Matter Movement. June 4, 2020. domino.com. Retrieved Feb 1, 2021.