Etsy CEO says company is escaping ‘race to the bottom' and getting back to its artisan roots

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Etsy is making policy changes as it faces pressure to compete with Amazon and emerging e-commerce players Temu and Shein.

Etsy is overhauling the policies that govern its site to make clear to sellers and buyers what products belong on the platform.

Etsy is rolling out a new marketing campaign around the policy changes, including a TV spot that shows ceramicists, clothing makers and other artists, followed by a smashed robotic arm. The platform's new rules require all items to incorporate"a human touch" as outlined by its creativity standards. Each product has to fall into one of four categories: made by a seller , designed by a seller, handpicked by a seller, or sourced by a seller.

The roller coaster started earlier. Etsy went public in 2015, forcing the company to start answering to shareholders' demands for growth, a contrast to its. The stock price quadrupled in 2020, and the number of businesses selling goods on the site more than doubled to 9 million between 2020 and 2023.to police the site. The key policy was that"everything listed for sale on Etsy must be handmade, vintage, or a craft supply." Resellers were prohibited.

 

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