Etsy CEO Josh Silverman is steering the company back to its artisanal origins, aiming to reclaim its identity amidst growing competition from e-commerce giants like Amazon, Temu, and Shein.
The global online marketplace is known for its unique and handmade products, among which home decor. Founded nearly twenty years ago as a haven for artisans and craftspeople, Etsy has faced a significant shift towards mass-produced items in recent years, diluting its unique marketplace.
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Silverman's vision involves a strategic overhaul of Etsy's platform policies, aimed at clarifying what products are appropriate for the site. These changes, launched recently, introduce new labels and guidelines emphasizing the handmade, personal touch that defines Etsy's core values. According to Silverman in an article on Cnbc.com, the goal is to enhance transparency and authenticity, ensuring that every item on Etsy reflects craftsmanship and creativity.
'We're positioning ourselves to answer the call for original goods and real people by dialling up the things that make Etsy, Etsy,' Silverman asserts in the article.
Source: www.cnbc.com