Etsy began funding promotions in the fall of 2023, and it just kicked off a £5-off sale in the UK through Tuesday. Etsy told Wall Street in November that it was implementing the new marketing strategy because it was experiencing an increasingly competitive retail environment with a very heavy emphasis on deep discounting.
Etsy told sellers it was running the current UK promotion because it wanted to help support their businesses by encouraging UK buyers to shop small. “From April 26–30, shoppers in the United Kingdom will get £5 off orders of £30 or more with promo code SMALL5.”
Sellers who ship to the UK (applies to UK buyers only) will be able to take advantage of the promotion. There’s no limit to the number of times a UK buyer can use the promo code between Friday and Tuesday.
“This special offer is just one of the many ways we’re investing in you and helping bring more UK buyers to Etsy this spring,” Etsy informed sellers. Details and a link to terms can be found on the Etsy Announcement board.
This February EcommerceBytes Blog post has a roundup of Etsy-funded promotions beginning with one that ran in mid-September.
Etsy is also running seller-funded promotions in the US, it announced in a prior post on the Etsy Announcement Board:
Mother’s Day Markdowns, April 1—May 12 (Observed May 12 in the US and other countries). Categories of note: Home & Garden Decor, Jewelry, Clothing, Cards, Wrapping, Floral.
Father’s Day, May 13—June 16 (Observed June 16 in the US and other countries). Categories of note: Clothing, Wall Decor and Prints, Drink & Barware, Accessories, Greeting Cards.
“Etsy told Wall Street in November that it was implementing the new marketing strategy because it was experiencing an increasingly competitive retail environment with a very heavy emphasis on deep discounting.”
I hope Etsy provides “deep discounting” that does not involve the Seller – because Sellers are also facing inflation.
As a jeweler on Etsy I need to increase my prices due to inflation…
1) Since January, the spot price of Silver has increased by 25%.
2) The price of stones/minerals have increased by 3x within this past year, alone.
3) Etsy “jacked-up” Seller fees in 2021.
4) Postal rates continue to increase.
I suggest that Etsy should “deep discount” their fees in order for Sellers to survive.