Amazon may be threatening Etsy’s business
As CNet says – “Uh-oh, Etsy. Amazon may have a Handmade challenge for you.”
CNet reports that Amazon has been putting out feelers to merchants on Etsy, gauging interest in their new project called “Handmade at Amazon.” The new (not yet confirmed) service would provide handmade goods through the Amazon portal.
Etsy is an online portal where individuals can sell their designs in an online-store front. The company derives revenue from listing fees and commission. Etsy users were reached via Etsy’s online forum:
They’re asked to fill out the form with information about their business and the items they sell — from jewelry to gourmet goods to toys and games — with a promise to keep respondents updated “while we set up shop.”
Etsy boasts 1.4 million active sellers and 20.8 million active buyers and began trading as a public company in April. CNet speculates that it’s unlikely Amazon would try to buy Etsy, but instead compete with them.