Etsy is refocusing its aspirations and energies much to the annoyance of some of its sellers CEO Josh Silverman said the decision is a pivot toward the areas that are showing the most growth for the handmade marketplace particularly on its core eCommerce site However the news came as a jolt to merchants like jewelry maker Natalie Jacob who told Bloomberg she became a major fan of the Etsy Wholesale service until it abruptly stopped communicating with merchants Etsy Wholesale has not been shutdown formally but it seems to have been largely abandoned according to reports A tacit admission followed that the eCommerce site will likely be curtailing or at least scaling back its plans to push into brick-and-mortar retail The pullback reports noted runs some risk of alienating or irritating Etsy sellers who had anticipated additional channels by which to reach consumers Its the company picking its battles said Tom Forte an analyst with DA Davidson Co Services like Etsy Wholesale which got Etsy retailers in spaces like Macys were a way for craftspeople to find new buyers but it was unlikely to have been much of a revenue driver for Etsy according to Forte The goal now he noted will likely be finding ways to better align services like Etsy Wholesale to its core eCommerce product Its a serious change of direction for Etsy People see us as an online handmade marketplace but we really see ourselves as reinventing the whole retail supply chain then-CEO Chad Dickerson said at a tech conference in 2013 Were excited about the long-term potential this program has to create meaningful growth opportunities for sellers and for Etsy Five years later Dickerson is out Silverman is in and Etsy is attempting to recover from a long run of sluggish sales growth falling stock prices and angry shareholders who are hoping to see healthier revenues soon Etsy has become a leaner and meaner organization 8 percent of its workforce has been let go and side projects like a craft tutorial site called Etsy Studio have been shuttered The changes however have boosted revenue which has grown for the last three quarters including its first billion-dollar quarter Silverman has also seen Etsys stock price increase 160 percent since he took over as CEO Share price is approaching 27 an all-time high You Might Also Like Related Items brick and mortar e-commerce Etsy News Retail shopping Whats Hot wholesale