Etsy is adding a bidding option for shoppers as the resale boom becomes more competitive. According to Etsy, shoppers searched for the term “vintage fashion” once every 10 seconds on the platform in 2022. And at the same time, Etsy’s revenue surpassed $2B last year and a significant portion of that came from its vintage and handmade marketplace. Now, the platform is testing a new feature called Make an Offer, allowing sellers to suggest a starting price and let potential buyers make bids similar to eBay. In just the first week, more than 1M listings have been posted and are accepting bids through the new feature. YPulse’s Fashion Preferences & Style report shows 61% of Gen Z and Millennials say they like to shop for vintage / secondhand clothing. (Glossy)
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