Etsy, the online marketplace, announced that it will launch a new Purchase Protection program for shoppers and sellers on its platform. Buyers will be eligible for a full refund starting August 1 if their purchases don't match the item description, arrive damaged, or don't arrive at all.
The company claims that they are going to invest at least $25 million per year in the purchase protection program. This would cover refunds for qualifying orders up to $250 at no additional cost to sellers. According to Etsy, the investment will allow sellers to maintain their earnings when unexpected events occur.
In a statement, COO Raina Moskowitz, said: "Easy issue resolution is a vital element of the e-commerce purchasing experience, and our new Etsy Purchase Protection pr...