Based on a few reasons, eBay started to lose its ground to other similar online marketplaces! Etsy is among the most popular websites for buying and selling handmade crafts now! Read more.
EBay has announced that the company is not satisfied with the latest performance especially if you can compare their poor performance with the performance of their competitors Amazon and Etsy.
Apparently, they are blaming the huge economic downturn for decreased profits and they are looking for solutions to grow and improve their profits to levels enjoyed 10 years ago, in 2007 and earlier.
Even though lots of people agree with this fact, we must say that the policy and popularity of other similar online marketplaces have something to do with this. According to some experts, the lowered eBay’s profit has nothing to do with the global economy but is backed by two of eBay’s main competitors Etsy and Amazon. Their huge success means that eBay should find a solution fast if the company wants to keep the sellers. For starters, they can lower the selling fees which are expensive when compare to the listing fees of Etsy and Amazon.
Amazon is reporting that their profits are growing and they are satisfied with how the company works. Etsy also reports increased sales and according to the experts, Etsy is soon going to become the new eBay, even though the website is specialized for selling handmade items, art pieces, and vintage goods.
We are all used to buy from eBay, but apparently, those times have changed. Etsy is taking the lead and provides excellent opportunities to sellers as well as various choices for buyers. Their fees are little when compared to the fees eBay takes from their sellers’ profits.
Opening an Etsy shop is free of charge, all you need to do is to enter a valid email address, create a name for your shop, and start listing your handmade creations. The fee for listing a product is $0.20 cents and Etsy takes 3.5% of each sale, while everything else goes straight to your pocket.
If you don’t have an account on Etsy yet, this is probably the right timing for you to create one. Etsy is a growing area, which means that you will have an opportunity to expand your business and become a successful global Etsy seller. Do it now!