Etsy is a retail platform dedicated to selling unique, handmade items that have typically been created by manufacturers, designers, apprentices and hobbyists. Jewellery products have a large presence on the popular website.
The new wholesale initiative allows sellers to distribute their wares to qualified bricks-and-mortar retailers, creating what could be described as a global business-to-business online marketplace.
Under the new model, buyers must be approved before they are able to make purchases while sellers are required to pay a once-off US$100 (AU$107) joining fee and a 3.5 per cent transaction fee for each subsequent wholesale purchase order. This differs from the traditional Etsy.com platform whereby there are no membership fees or buyer validation process.
In a blog announcement, Etsy Wholesale program manager Rand Niederhoffer said, “We launched the Etsy Wholesale platform to create new opportunities for our sellers to grow their businesses, and offer retailers around the world a more convenient way to source products from small designers.”
The concept was first announced in September 2012, before moving into a beta testing stage in April 2013. During that time, Etsy partnered with major retailers such as West Elm and Nordstrom, which trialled stocking the website’s goods in store.
The move seemingly signals Etsy’s commitment to making its retail platform more appealing to businesses, not just individuals.
If the large number of jewellery listings on the traditional website is any indication, the new model offers retailers a chance to create a point of difference by carrying unique pieces from smaller designers and, in turn, assists designers to build a business following.
It would also provide Australian and New Zealand designers and manufacturing jewellers the ability to create an “Etsy store” for small-scale manufacturing runs and to gain international exposure.
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