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Changes Ahead for Etsy Marketplace

Site will remove 3-day hold on funds, add processing times and wholesale marketplace.

Etsy sellers who use direct checkout and have been selling on the site for at least three months will get their money sooner.

That was just one of the announcements Etsy made this week concerning changes coming to the marketplace. It also reports that, in about a week, sellers will be able to add processing times, or ship-by dates, to their listings, and that down the road they’ll have access to a new wholesale marketplace called Esty Wholesale.

Etsy removes 3-day hold

Chris Cosentino, a product manager at Etsy, explains that the three-day hold Etsy currently puts on funds processed through direct checkout will be removed for sellers who have made sales 90 days ago or longer, regardless of if they offer direct checkout.

“Funds are now available for deposit the next day if the item is shipped,” he adds.

Cosentino notes that Etsy is working to improve direct checkout, which allows sellers to accept credit cards without leaving the site, so all sellers can offer it.

Processing time added

In a separate announcement, Eric Stephens, another Etsy product manager, reports that the site began releasing a new feature that allows sellers to specify a processing time for their products, or the time it takes to make an item and mail it. All merchants should have access to this in about a week.

“Etsy is evolving. Change can be scary but there’s always one thing I keep in mind: Etsy is special because it gives our sellers choices”

Sellers are not required to specify processing times, but adding this detail sets clear expectations, improves buyers’ experiences, and can reduce the number of messages between buyers and sellers, he adds.

Stephens notes that sellers will be able to change their ship-by date once per order when they set a processing time—for instance, if they’re waiting on details from a buyer to personalize an item. However, when sellers update a ship-by date, they will have to enter a reason for the change.

Etsy Wholesale on the horizon

Lastly, Vanessa Bertozzi, the program manager for Etsy Wholesale, reports that a wholesale Etsy site is is in the works, building on its acquisiton of Trunkt, a wholesale site Etsy acquired in the spring. She did not say when the marketplace would debut.

However, she says Trunkt lifetime members “will be the first to have a new wholesale homebase on Etsy.” Etsy will contact these sellers when it is ready to bring them over to the new marketplace.

Bertozzi adds that Etsy will also do invitation-only beta testing to add more merchants to the site. Sellers can sign up to be invited.

Etsy Wholesale will have its own policies, she continues, and sellers will need to provide their resale tax ID number to participate.

“Etsy is evolving. Change can be scary but there’s always one thing I keep in mind: Etsy is special because it gives our sellers choices,” Bertozzi writes. “…That’s what is so revolutionary about Etsy—we give independent creative businesses the flexibility to not just make business decisions but also lifestyle choices.”

About the author

Olga Munoz
Olga Munoz is editor of TheOnlineSeller.com. In addition to writing news and feature articles about e-commerce, selling trends, online marketing and other topics of interest to online sellers, Olga manages the site's social media efforts. A journalism graduate of Chico State, Olga says her favorite part of being a journalist is learning interesting facts that help put stories into perspective, attending industry events and meeting interesting people "that leave you smiling, even in tough situations." Opinions expressed here may not be shared by The Online Seller and/or its principals.



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