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Etsy is set to launch its first loyalty program, Etsy Insider, in September 2024, aimed at boosting sales and attracting occasional shoppers amid declining merchandise sales and increased competition from platforms like Amazon and Temu. The program will offer select buyers benefits such as free shipping and discounts, with a fee expected to be similar to the cost of a latte – as mentioned by Raina Moskowitz, Etsy’s Chief Operating and Marketing Officer.
This move is an attempt by the marketplace to increase its shopper’s traction on the site which can also benefit merchants. As Etsy seeks to regain its footing, it is refocusing on its artisan roots to combat what analysts describe as the “junkification” of its marketplace, where unique handmade products have become overshadowed by a cluttered selection of items.
(Source: The Associated Press)