The program will refund buyers for orders when something goes wrong, enabling them to shop from small businesses with confidence
Etsy will invest over $25 million annually to cover refunds at no additional cost to sellers
Etsy, Inc., which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the launch of Etsy Purchase Protection. Starting August 1, buyers will receive a full refund for purchases on Etsy.com in the rare cases that they don’t match the item description, arrive damaged, or never arrive.
Etsy is focused on generating more value and opportunities for sellers by creating a trusted shopping experience that brings more buyers to the marketplace, all while investing in crucial areas to scale seller support. The company plans to invest at least $25 million per year into the purchase protection program to cover refunds on behalf of sellers for qualifying orders up to $250, enabling them to keep their earnings from sales when things happen outside of their control.
Read More:Â The First One-Click AI-Powered Accessibility Solution Is Here
“Easy issue resolution is a critical part of the e-commerce shopping experience, and our new Etsy Purchase Protection program aims to help make shopping on Etsy even more worry free,” said Raina Moskowitz, Etsy’s Chief Operating Officer. “This program will help buyers feel more confident when they shop from small businesses on Etsy, while we invest directly in our sellers to provide them an important layer of assurance.”
In addition to the purchase protection program, Etsy will continue to invest in product and customer service improvements to make the issue resolution process as seamless and efficient as possible for both buyers and sellers.
Read More:Â SalesTechStar Interview with Cory Cummings, CEO at Pack Digital
“This is just one of many steps we are taking to inspire trust and confidence in the Etsy brand,” said Moskowitz. “Etsy’s Purchase Protection program will complement our broad efforts to improve customer support, increase trust signals across the user experience, and maintain the integrity of our marketplace as a destination for unique and special items.”
Note for the financial community: Etsy’s Purchase Protection program will go into effect August 1, 2022, and has no impact on Etsy’s Q2 2022 financial guidance provided on May 4, 2022.Â
