THE WHAT? A number of sellers on Etsy, the crafts-based marketplace, are closing their digital doors this week in protest over some changes due to be ushered in by the e-commerce site in order to compete against the likes of Amazon, according to a report published by The Wall Street Journal.
THE DETAILS Etsy plans to increase the commission it charges on transactions from 5 percent to 6.5 percent, prompting some 20,000 shoppers to sign a petition against the move and some to strike.
THE WHY? Etsy said that the fee increase is key in order to allow the company to up its marketing budget and expand the suite of services it offers to support sellers. The first increase since 2018, it will allow the rapidly expanding marketplace to compete with the likes of Amazon.