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.
