Etsy cancels all "debts" owed to Ukrainian sellers

The conflict between Russia and Ukraine has caused traffic obstructions, material shortages and other difficulties, which not only disrupted the normal lives of people in both places, but also challenged the international supply chain, and some cross-border sellers' orders have also declined. For sellers in Russia and Ukraine, the situation is even worse.

E-commerce platforms have provided assistance to sellers who have suffered losses as a result. Recently, Etsy announced that in order to alleviate some of the burden on local sellers, it will cancel the current balance "owed" to the platform by all Ukrainian sellers, including listing fees, transaction fees, advertising fees, etc., with a total of approximately US$4 million.

In response, Etsy CEO said, "We have long been committed to creating economic opportunities and providing assistance to users when they encounter difficulties or injustices, and our support for Ukrainian sellers reflects this commitment."

An Etsy spokesperson did not disclose the number of online stores in Ukraine, but said that 3% of the platform 's sales came from sellers in Ukraine and Russia. Etsy has not yet responded to whether the protection policy will be extended to global sellers selling to Russia and Ukraine .

It is reported that Etsy's data rose across the board in the fourth quarter of 2021. Sales in the crafts-focused market increased by 16.5% year-on-year to US$4.2 billion, active sellers increased by 72% to 7.5 million, and active buyers increased by 17.6% to 96.3 million. On the one hand, this action will also help it retain users in Ukraine.

Under the situation in Russia and Ukraine, both sea and air transportation have been affected, which directly affects the delivery progress of related sellers. In addition to Etsy's move, eBay announced the suspension of shipments to Russia and Ukraine and provided corresponding protection measures to the sellers concerned. In addition, Amazon has also deactivated the accounts of some Ukrainian sellers to protect them from late fines and prevent customers from delayed shipments.

In addition to some preferential policies of the platform for sellers, some sellers on e-commerce platforms such as Amazon and Etsy are also selling Ukrainian-style products at low prices.

Etsy

Ukraine