About a month ago, Amazon (AMZN) - Get Report launched a new marketplace called Handmade that was deemed the "Etsy Killer." Handmade is a place for artisans to sell handmade crafts with a more personal touch -- you know, like Etsy (ETSY) - Get Report.
Many of the sellers on Handmade also sell on Etsy, and an obvious question arose: can they both exist? Amazon has a reputation of being a behemoth that comes in and squashes the little guys, but in this particular category, the little guy might actually be preferable, especially for sellers and buyers who care more about the ethos and authenticity of a platform.
While it's still too early to tell if Etsy can compete against Amazon, we decided to ask you, our readers, to cast your vote on eight different products to decide who did it better, Etsy or Handmade at Amazon. And the (nonscientific) results are in. For each of the eight items in our poll, Etsy took home first prize. Its biggest landslide was the Bottle Lamp, where Etsy got 88% of the votes over Handmade.
While TheStreet readers may find Etsy to be more compelling, it's tough to say how this competition will play out in the end.
"Hard to tell which is performing better at this point, but what we do know is that in the three weeks since launch the number of items on Handmade at Amazon has doubled to 160,000 and that the wait to get a store approved for Handmade at Amazon is now up to six weeks," Wedbush analyst Gil Luria said.
Etsy is reporting its third quarter earnings on Tuesday after the close, so we may get an update on how Etsy plans to compete against Amazon.
Manhattan Venture Partners Chief Economist Max Wolff, however, thinks Etsy may stay away from bringing up Amazon altogether and focus on positives such as the holiday season uptick in sales.
Wolff also said that this doesn't have to be a winner-takes all scenario, and Etsy and Handmade can coexist.
"I do not believe Etsy is existentially at risk," he said. "The artisan market is much bigger than Wall Street thinks it is."
Analysts are expecting Etsy to report a loss of 6 cents per share on revenue of $66.2 million for the quarter, according to Thomson One estimates. Shares of Etsy are down more than 60% from its first day of trading in April.
Here are the full results from our Etsy vs. Handmade poll: