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Is Amazon looking to take on Etsy?
Two online postings suggest the online retail giant is establishing a handmade marketplace to rival Etsy, which has seen its stock drop since going public in March.
Seattle--Two different postings online suggest that e-tail giant Amazon.com Inc. is establishing a handmade marketplace to rival Etsy, which has seen its stock drop since going public in March.
Though Amazon did not respond to questions about the rumors by press time, both a posting on Amazon.com and a discussion on the Etsy seller’s forum discuss “Handmade,” a “new shopping experience at Amazon.”
Amazon has a “Handmade at Amazon Artisan Interest Form” posted on its site that asks potentially interested artisans for their basic information.
Interestingly, the form also asks those who sell jewelry to be more specific about what they sell--bracelets, charms, earrings, etc. The form only asks this of sellers in one other category, Home & Kitchen, leading to speculation that jewelry might be a focus for Amazon Handmade.
On Etsy.com, “Handmade at Amazon” was the topic of a discussion thread started May 20 that had, as of Tuesday afternoon, elicited more than 350 responses. While responses varied, a number of people who identified themselves as Etsy sellers indicated that they already sold their products on Amazon, while others wondered how Handmade’s commission rates would compare with those charged by Etsy.
Etsy, a Brooklyn-based e-commerce site focusing on vintage or handmade items launched in 2005, went public in March amid much fanfare but since has seen its stock price plummet, as a Wall Street analyst reported that as much as 5 percent of what the site sells could be counterfeit or trademark-infringing goods.
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