To trigger frustration and anger in some of the salespeople they operate on Etsy was the discrepancy between commissions on sales from April 11th will go up by 30% and the very positive moment on the financial level. Investors had something to celebrate, in view of the final 2021: revenues and sales never so high before, the value of the shares soaring as a result.
But the perspective of those who physically push Etsy’s business forward, of those who have allowed the platform to obtain those numbers, is quite different. CEO Josh Silverman announced that from April 11th the levy on transactions will grow from the current 5% to 6.5%, and a feeling of anger but not helplessness has spread among the sellers. A quick comparison, dozens of colorful comments on the Etsy board and the group of discontented ones has gradually expanded, so much so that on coworker.org (link in SOURCE) was created petition which, at the time of writing, counts further 18 thousand signatures on a target of 20 thousand.
‘RATES MORE THAN DOUBLE IN 4 YEARS’
Over 5,000 sellers who have decided to give a strong signal by signing the petition, because it is not tolerable – it is the paraphrase – that in a moment of splendid shape for Etsy the fat cows are for management and investors, while who is the basis of success, in reverse, must “impoverish” without a valid reason. Both due to the impending hike and a whole host of changes that didn’t go down to sellers, such as the mandatory advertising program put in place in 2020 that had already eroded earnings.
The latest increase in fees on Etsy – it says – dates back to July 2018. If this new tax goes through, our basic fees for using the platform will more than double in less than four years.
ONE WEEK STRIKE FROM 11 APRIL
So, the plan: on April 11, the day when basic sales commissions will go from 5 to 6.5%, thousands of salespeople have pledged to go into vacation mode, pausing activities for just over a week in protest . Those who want and above all will have the opportunity to renounce the income deriving from sales for a non-trivial period of time. But a couple of days are also enough, even just one: the important thing is to be many, to get a strong signal to the top.
The strike is only the first step – says Kristi Cassidy, the one who created the petition. We would like in the future there to be solidarity between sellers, peer support, craftsmen who support each other.
Etsy is an important platform for the buying and selling of handicraft products. Earlier this month, CEO Josh Silverman announced a $ 4 million initiative to support Ukrainian sellers: “We know that many sellers are facing enormous financial hardship due to the riots. To alleviate some of the burden, we are canceling the current balances (listing fees, transaction and advertising fees, ed.) Owed to Etsy by all sellers in Ukraine.”.
Opening image from 123RF