People are prepared to wait longer for handmade items, says Etsy boss
"Growth has inevitably slowed versus the Covid boom," said retail analyst Jonathan de Mello, who pointed out that other e-commerce firms have faced similar challenges.
"We've seen no seller churn as a result, and as we told sellers, we reinvested that back in the platform," he added. "During the pandemic, millions of people had to come and try Etsy because they had very few other choices," he said. Consumer prices have been rising this year as energy, fuel and food costs soar, thanks to higher demand for energy since Covid lockdowns eased and due to the war in Ukraine.But Mr Silverman believes people will prioritise "affordable indulgences" in a tough economic climate.
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