Etsy is rolling out significant updates to its seller policies in 2024, focusing on enhancing security measures and integrating generative AI to improve user experiences.
Enhanced Identity Verification
Starting in 2024, new Etsy sellers will be required to complete a more rigorous identity verification process. This will involve uploading a valid photo ID, such as a driver’s license or passport, and taking a real-time selfie. Etsy has partnered with Persona, a third-party company specializing in secure identity verification, to handle these processes. This move aims to bolster platform security, reduce fraud, and ensure that sellers are who they claim to be. By increasing legitimacy, Etsy hopes to build greater trust among buyers, especially when purchasing from new shops without established reputations.
$15 New Shop Set-Up Fee
To further ensure commitment and seriousness among new sellers, Etsy will introduce a one-time $15 set-up fee for new shops. This fee, which must be paid before opening a shop, is intended to fund enhanced security features and support systems for these new sellers. Etsy believes that this upfront cost will discourage casual or non-committed individuals from creating shops on a whim, thus maintaining a higher standard of quality and dedication among its seller base.
Changes to Payment Schedules
Etsy is also exploring adjustments to the payment schedules for new shops. Until new sellers establish a proven track record of sales and reliable order fulfillment, they might experience delays in accessing their earned funds. This measure aims to ensure that new sellers fulfill their orders properly and have the ability to process refunds if necessary. By holding payments for a short period, Etsy can create more accountability and protect buyers from potential issues with unproven sellers.
AI-Powered ‘Gift Mode’
In addition to these security enhancements, Etsy is leveraging cutting-edge AI technology to enhance the shopping experience. The new AI-powered feature, “Gift Mode,” utilizes OpenAI’s GPT-4 to provide personalized gift suggestions based on user preferences. Users answer a series of questions about the recipient and occasion, and the AI generates a curated list of gift ideas. This feature aims to reduce the anxiety often associated with gift shopping by offering thoughtful and relevant suggestions from Etsy’s extensive range of products.
Gift Mode is designed to address the pain points of gift-giving by providing a dedicated and scalable shopping experience. It uses a combination of machine learning and human curation to ensure that the suggested gifts are both appropriate and high-quality. This initiative reflects Etsy’s ongoing efforts to integrate advanced technologies into its platform to enhance user engagement and satisfaction.
Implications for Existing Sellers
It’s important to note that these new policies will primarily affect newly opened shops on Etsy. Existing sellers will not be directly impacted by these changes unless they choose to open additional shop accounts, which would then be subject to the new requirements. For established sellers, these measures are seen as positive steps towards improving the overall trustworthiness and security of the platform.
Conclusion
Etsy’s new seller policies for 2024 reflect a strategic effort to enhance platform security, ensure seller commitment, and leverage AI to improve the shopping experience. By implementing stricter identity verification, introducing a set-up fee, adjusting payment schedules, and launching innovative features like Gift Mode, Etsy aims to create a safer, more reliable, and more enjoyable marketplace for both sellers and buyers. These changes underscore Etsy’s commitment to fostering a trustworthy and dynamic online shopping environment.
14 Comments
This litereally does nothing to stop the scammers
Why would they want to stop them? It makes them money.
Great. Now it’s even more difficult to make it work. Great. Lovely. Love it.
Can we all just leave Etsy already? It’s 99% ‘dropshipping’ fronts now.
Yo fucking do more Kick articles. Etsy is for Karens and Vietnamese electricians.
lmfao wtf
Vitaly article would be fire. We all know what’s going on.
In before ads on this site.
It’s cool how Etsy went from being a place where sellers rip off customers, to ripping off the sellers who rip off the customers. That’s progress baby.
I farted
The gift mode sounds so dumb. Haven’t used Etsy in a few years, but it was dumb back then too.
Pee Pee!
Do an article on UAPs over the ocean please! (´˘ -˘ 人)
The top-100 page looks like shit.