Etsy Announces Etsy Insider Buyer Membership Program Ahead Of Q2 2024 Earnings
UPDATE
More details have been released about Etsy Insider closed beta program, including pricing and benefits.
You may select from one of two Program types: seasonal or annual membership subscription for a recurring fee. Your purchase grants you access to certain Benefits (as outlined below) for the period of time (the “Access Period”) you have elected. Your purchase of a seasonal or annual membership is final and non-refundable.
Etsy will not issue you a refund, including partial, prorated, or otherwise unless required to do so by law. As this is a beta program, some benefits may not be available on the first day of your subscription but they will be available or redeemable within your active subscription period.
SEASONAL MEMBERSHIP
The Seasonal membership (“Seasonal”) is currently $18 for a three (3) month access period subject to any promotional pricing offered to you for the duration offered to you (the “Seasonal Fee”). The Seasonal Fee is subject to change. Etsy will notify you via the email associated with your Etsy account prior to any such change. Membership fees are subject to taxation in accordance with applicable federal or state law (“Applicable Taxes”). If you select a Seasonal membership (the “Seasonal”), you will receive access to the following benefits (the “Benefits”):
Shipping Benefit: Free domestic shipping up to $20 in shipping cost per eligible item, for the lowest cost shipping classes offered by the seller, from sellers based in the United States to any destination in the United States only. For items with shipping costs over $20, you are responsible for the full cost of shipping.
Only items that take Etsy Payments Items are eligible for Etsy Insider covered free shipping. Some sellers already offer free shipping. Etsy Insider members will see an “Etsy Insider” logo next to items eligible for Etsy Insider covered free shipping. Sellers and items that are eligible for Etsy Insider covered free shipping are subject to change.
Deals & Drops: From time to time, Etsy Insider members will receive first access to merchandise and deals from Etsy sellers. Access and notifications to such promotions may be sent to you via e-mail and/or within the Etsy Insider membership hub. Participating inventory in Deals & Drops is limited and subject to availability from participating Etsy sellers.
Double Donate the Change: Etsy will double the Donate the Change contribution made on each order while you are an Etsy Insider member.
ANNUAL MEMBERSHIPThe Annual membership (“Annual”) is currently $72 per year subject to any promotional pricing offered to you for the duration offered to you (the “Annual Fee”). The Annual Fee is subject to change. Etsy will notify you via the email associated with your Etsy account prior to any such change. Membership fees are subject to Applicable Taxes.
If you select an Annual membership, in addition to the benefits listed above you will also you will receive access to the following Benefits:
A birthday promotional offer delivered a week before your provided birthday month and day. To receive the birthday offer, you must provide the month and day of your birthday as well as have a valid e-mail address. The birthday promotional offer will expire thirty (30) days after it is sent. Only one promotional offer may be redeemed at a time.
One (1) annual gift designated for Annual members for each year of Annual membership. Members are eligible to claim one (1) annual gift upon initial payment of the Annual Fee (provided, however, for the beta, Etsy may send the redemption instructions after the initial launch of Etsy Insider).
In the event Your annual gift arrives damaged or after receiving a confirmation e-mail with tracking details, does not arrive, please contact Etsy Customer Support. The annual gift redeemable may change from time to time in Etsy’s sole discretion. Annual members are thereafter eligible to receive an annual gift for each renewal term upon payment of the Annual Fee.
Etsy is hoping to put their own spin on Amazon Prime, introducing Etsy Insider buyer membership program ahead of today's Q2 2024 earnings report.
The program will rollout in a closed-beta test to select US buyers in mid-September, offering free domestic shipping, special access to discounts and other perks in what Etsy hopes will become "an important lever in turning our strong brand affinity into deeper customer loyalty."
Simona Shakin Jul 31, 2024
In mid-September, we’ll launch a closed-beta version of Etsy Insider to select buyers in the United States.
Shoppers who receive an invitation will have the option to purchase a seasonal or annual membership, which will unlock special benefits, including:
- Free US domestic shipping on millions of items
- A birthday bonus
- Limited edition annual gift, designed by an Etsy seller
- First access to special discounts and select merchandise
- Double impact with Donate the Change
Etsy was quick to assure sellers these perks will come at no cost to them and will be funded by Etsy and through the membership fee - but curiously the announcement failed to specify what exactly that fee will be.
Chief Operating and Marketing Officer, Raina Moskowitz, declined to put an exact dollar figure on Etsy Insider according to the Associated Press, but indicated it would be "about the cost of a latte."
HALELUYA HADERO“We want people to start their shopping journey on Etsy rather than come to Etsy when they’re just looking for something very specific,” Raina Moskowitz, the company’s chief operating and marketing officer, said in an interview...
...Etsy did not disclose how much customers must pay for the new loyalty program. But Moskowitz said the monthly fee will be close to the cost of a latte. She also said the company will decide on whether or not to do a nationwide rollout of the program after seeing what resonates with consumers.
We'll likely hear more about the program when Etsy reports Q2 2024 earnings at 5:00 PM Eastern today - stay tuned for updates!
