Etsy waives Ukraine-based seller fees

As Russia continues to invade Ukraine, some U.S.-based marketers are showing their support for the country under siege. Today, Etsy said it will waive all balances for its Ukraine-based sellers. The forgiven debts include listing fees, transaction fees and advertising fees—in total, it amounts to $4 million. “Being part of a community means that when one part is suffering, the rest of us must step up and offer our support,” wrote Etsy Chief Executive Josh Silverman in a blog post. “To do our part, we’ve reached out to sellers in the region to ensure they know how to access help with their accounts or place their shops on hold during this difficult time.” An Etsy spokeswoman declined to say how many Etsy shops are based in Ukraine but noted that 3% of Etsy’s gross merchandise sales comes from sellers in Ukraine and Russia. Along with marketers, agencies are also contributing assistance. Last week Publicis Groupe offered its support to its Ukraine-based employees, of which there are some 350. Etsy, which has 7.5 million active sellers globally, has made commitments to its community in the past, including a “Stand With Small” campaign to support small businesses in 2020 in the early days of the pandemic. In addition, Etsy has helped U.S. sellers impacted by natural disasters such as Hurricane Harvey in 2017—such sellers were able to defer payments and received help with shop management needs, according to an Etsy spokeswoman. In its most recent quarter, Etsy reported a 16% increase in revenue compared with the year-earlier period to $717 million. The company recently said it will increase seller transaction fees to 6.5% from 5% as it plans to invest more in marketing and seller tools to improve customer experience. Get your ticket for the April 5 Ad Age Next: Retail event at AdAge.com/NextRetail.

Etsy waives Ukraine-based seller fees

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