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Shares in Etsy fell by 4% on Monday after Amazon’s handcrafted product section ‘Handmade Gift Shop’ expanded its offering.
The Handmade section first launched in 2015, featuring thousands of handmade products including jewellery, clothing and home items, but yesterday the service expanded its offerings in time for the festive period with the Gift Shop.
The shop also caters to celebratory events such as weddings.
Shares in Etsy also fell with the original announcement of the initial launch of the Handmade section two years ago.
Katie Harnetiaux, head of marketing for Handmade at Amazon said: “We created the Handmade Wedding Shop with the savvy couple in mind.
“The ability to purchase products from local artisans on the Handmade Wedding Shop offers customers a boutique shopping experience coupled with the convenience and selection of [Amazon].”
