Report: Etsy faces major new competitor
Consumers looking for arts and crafts online may soon have a new destination. According to The Street, Amazon.com is readying the launch of Handmade at Amazon, an online marketplace of handcrafted goods that should serve as a major new competitor for Etsy Inc.
Reports of Amazon’s plans for Handmade at Amazon initially surfaced in May, but Amazon is now displaying product and seller pages, although there is no e-commerce functionality yet. An Amazon spokesperson only said “Stay tuned” when asked about a launch date for Handmade at Amazon.
Etsy, which went public this year, reported a growing loss in the second quarter. Other competing online marketplaces for homemade items, such as Aftcra, have launched, but Handmade at Amazon would be Etsy’s largest direct competitor by far.
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