The economic impact of the coronavirus (COVID-19) health crisis has been felt tremendously among small- and micro-businesses that had to close retail stores or saw online sales evaporate as consumers went on buying binges for household and food items.
While many online sellers in non-high-demand categories experienced significant sales drops, Etsy sellers probably took an even harder revenue hit.
The marketplace caters to unique products, custom products, and handcrafted items that just were not part of the buying frenzy over the last few weeks.
The Etsy Community Makes Creative and Unique Items For Everyone
Etsy says that supporting its 2.7 million sellers is always their top priority. The typical Etsy seller is a creative entrepreneur, committed to building a business while doing the work they love. For many, it is a part-time job, for others, it’s their sole source of income.
Etsy sellers are the makers and collectors who have turned their creative passions into full-time jobs. They pour their hearts into making beautiful, handcrafted products that celebrate life’s special moments and inject joy into the everyday.
While brick-and-mortar stores remain closed, Etsy shops are open for business with 65 million items available in the marketplace. Many of these products are unique and can’t be found anywhere else and reflect the spirit and passion of the seller.
To support the unique individuals that make up the creative Etsy community, Etsy is launching a new campaign called Stand With Small.
The campaign promotes Etsy’s seller community to shoppers around the world that their purchases and support on the marketplace will keep small businesses and people thriving.
Now, more than ever, these small and micro-businesses need that support.
Etsy plans to spread the Stand With Small campaign far and wide, including on its site, through emails, and on social media.
The company is also asking buyers to help spread the word, “We’d love for you to get involved as well. Help us spark a movement by reaching out to your favorite sellers and sharing your experiences on social using #StandWithSmall.”
Waiving Advertising Fees for Sellers – Offers Deferred Payment Option
The #StandWithSmall campaign is just one of several ways Etsy is supporting its sellers during this time.
Etsy also announced it is waiving millions of dollars in advertising fees, providing flexibility around payment schedules, and even speaking directly with US and EU legislators to ensure micro-entrepreneurs are eligible for vital stimulus and aid packages.
- Etsy will invest $5,000,000 over the next month to drive sustained business for sellers.
- Etsy will provide a one month grace period to any seller who needs extra time paying their bills.
Most importantly, the company will keep the lights on over on its virtual Main Street. While everyone is talking about social distancing, Etsy wants that human-to-human connection and commerce to remain alive and well. It’s the DNA of their community.
“Unlike mass retailers, when you shop on Etsy, you’re directly making a difference in someone’s life while supporting their creative passion. Our mission to Keep Commerce Human is more important than ever. I know our community has the drive and resilience to withstand this turbulence, but they can’t do it without you.”
Josh Silverman, Etsy CEO
The other day, Etsy Josh Silverman promised sellers, “Etsy is here for you.” and these announcements are part of that strategy to keep sales flowing at Etsy and help its small business owners manage through the coronavirus crisis.
If you are an Etsy seller, how are you managing this tough time and do you think the #StandWithSmall campaign will help you regain sales?
Please head over to our Facebook Group for Small Business Sellers and interact with other small business owners.