This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Amazon Takes On Etsy With New 'Amazon Handmade' Platform

5/26/15 11:27 AM EDT
Amazon (AMZN) is launching a handmade crafts marketplace to target online retailer Etsy. The ecommerce giant is attempting to lure Etsy (ETSY) sellers to its new platform, offering a first look at 'Amazon Handmade.' The targeted emails stated: 'We’re offering artisans like you a first peek at Handmade, a new marketplace for handcrafted goods,' and asked sellers to fill in an questionnaire detailing the kind of merchandise they dealt with. So far there has been no announcement regarding the price terms or launch date of the new venture. Amazon's latest project looks to be a huge blow to its smaller rival. The move comes shortly after Etsy announced its first earnings report, posting a net loss of $0.84 per share. The online marketplace saw its revenue jump to $58.5 million but losses were up from the previous year's numbers to $36.6 million. The company stock is now down about 43 percent since it began trading back in April. Etsy's 21 million customer base is dwarfed by Amazon's 278 million active users. Amazon also has the full power of its delivery capabilities to help launch it's artisanal goods platform. The retailer launched 'Amazon Prime Now' one hour delivery service back in December and reported a 24 percent growth in North American sales for the first quarter. Amazon has yet to announce its commission structure or shipping policies for Amazon Handmade, the retailer currently charges its third party sellers a 15 percent commission. Etsy on the other hand cuts more competitive terms, taking 3.5 percent of the listing price and a flat $0.20 fee per item. Critics of Brooklyn based Etsy have voiced concerns that the company alienated many of its sellers by growing and restructuring too quickly. Neither Etsy nor Amazon has yet commented on the latest developments.
Stocks in this video: AMZNETSY
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs