Sellers put online shops in ‘holiday mode’ after website’s move to hold back up to 75% of takings for as long as 45 days
Etsy has said it is “substantially decreasing” the amount of sellers’ funds held in reserve globally after UK vendors began boycotting the online craft marketplace over a hold-up in payments.
Sellers have been putting their Etsy shops in “holiday mode” and switching to rivals including Folksy, Shopify and Facebook Marketplace after the US-based website began ramping up its reserve system from the end of May by holding back as much as 75% of their takings for at least 45 days.
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