Etsy has announced they are cancelling all current balances owed by sellers in Ukraine in response to the ongoing conflict in the region.
In a post on the Etsy blog, CEO Josh Silverman said, in part:
The events unfolding in Ukraine weigh heavily on us all. Our thoughts are with everyone impacted in the region, especially Etsy sellers and buyers as well as family and friends of our global team.
Being part of a community means that when one part is suffering, the rest of us must step up and offer our support. 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.
We also know that many sellers are facing tremendous financial hardship as a result of the turmoil. To alleviate some of the burden, we are canceling the current balances owed to Etsy by all sellers in Ukraine, which includes listing fees, transaction fees, advertising fees, and more. This represents a contribution of approximately $4 million towards our community.
While this is certainly a great gesture of support for their Ukrainian sellers, the timing may raise some eyebrows as Etsy just announced last week they will be raising fees across the platform on the back of a very positive Q4 21 financial report - a move that some sellers feel was a slap in the face.
This the first major ecommerce marketplace I've seen go so far to financially support sellers impacted by the current events in Ukraine by wiping out balances owed.
eBay has put shipping restrictions in place and will be protecting accounts from late shipments, INRs, and negative feedback for shipment into the country but has not provided any details about protections or help specifically for sellers in Ukraine.
There are reports Amazon is proactively disabling accounts to prevent late shipments and penalties, but again nothing about fees or financial support.
What do you think of Etsy's new fee increases and their decision to cancel fees owed for sellers in Ukraine? Let us know in the comments below!