Find out what Etsy has been up to during the past month. Has your shop been impacted?
Chairman Fake Steps Down, CEO Dickerson Shares Heartfelt Farewell
Caterina Fake, known for cofounding Flickr and Hunch, departed Etsy’s board after having served as a source of innovation and direction at the company since 2006. Current Etsy CEO Chad Dickerson, who was recruited by Fake to join Etsy two years following her arrival, credits Etsy’s “community spirit and sense of design” to Fake. Fake has decided to step down from the board to pursue her other passions, including family and cancer research (she has recently joined the Rare Cancer Research Foundation). Fake served on the board for eight years and was appointed chairman in 2009, where she was able to grow merchandise sales from a couple hundred million to $1.35 billion in just four years’ time. Read more from Chad Dickerson’s blog post.
Etsy on the GO
Etsy recently unveiled their own card reader app that enables shop owners to accept credit or debit payments offline. This new app will allow Etsy shop owners to accept payments on the go, which – with a reported 35% of Etsy sellers participating in craft fairs – will be helpful. The app will connect with the seller’s Etsy shop to record changes in inventory and prevent them from overselling, and buyers can leave feedback on items purchased through the card reader. It is also predicted to drive traffic back to the shop owner’s storefront. The app is free to download, and charges 2.75% of the transaction per swipe – but the regular 3.5% commission fee is waived. Read more here.
Small Label Designs Win Big With Etsy Wholesale
Etsy is looking to grant a leg up for its designers with Etsy Wholesale, a new private marketplace for retailers, department stores and boutiques. Curated by a team of experts, Etsy Wholesale connects small-scale designers with major department stores in a thoughtful and carefully architected way. It launched out of beta in August, and now fashion powerhouses like Nordstrom and West Elm can shop from Etsy designers and sell them in their department stores at no fee. This produces a huge opportunity for Etsy shop owners, who often dream of landing their indie labels in a store. Though these designers may be small-scale, don’t underestimate them – when Beyonce was sporting bright, unexpected frocks that made headlines in 2014, it was an Etsy shop owner that was dressing her.
Etsy and Ecomdash
Each month, ecomdash launches new updates to the tool that impact how you manage your all your sales channels, including Etsy, in an effort to continually streamline your ecommerce business. As of December, ecomdash customers can now perform the following functions in accordance with their Etsy store.
- Quickly reprint shipping labels and view the archive of past shipped orders via the ‘Bulk Shipping Support’ screen. This will be helpful for keeping track of repeat customers.
- If you buy postage through Endicia, support for the Endicia Work Share/Consolidator program is now live.
- There are now additional options to customize packing slips. Take advantage of the new customization options and Etsy’s support of creativity to design a packing slip that really communicates with your buyers.
- Generate packing slips from the ‘Paid – Ready to Ship’ screen for fast completion of shipping tasks.
- Updates to the Reporting module allow you to track information by SKU and also view the number of sales per month, per quarter, and per year. Use this feature to see which of your products are most popular across marketplaces, and how they compare on Etsy versus other sales channels.
- As always, you can manage your Etsy inventory easily with our inventory automation software!
Will you signup to participate on Etsy Wholesale? Looks like a great opportunity for Etsy designers. What should we share in the next Etsy News segment?