I think they're afraid of Temu. You won't find that in the reporting, but it's begun materially impacting Etsy, and other large marketplaces like Amazon and Wa

I think they're afraid of Temu. You won't find that in the reporting, but it's begun materially impacting Etsy, and other large marketplaces like Amazon and Wayfair. If you do a couple Google searches during the US evening hours for the kinds of products people often buy on Etsy, you may notice Temu shopping ads in all the top slots, outranking and outspending every US marketplace including Amazon and Etsy which would typically hold those first-page above-the-fold spots in the past. Late this summer, the places Etsy sellers congregate to chat started getting widespread reports of sales dropping off a cliff, to levels not seen in years, for new and veteran sellers alike. The plummet in Etsy traffic coincided with Temu beginning to replace Etsy in Google Shopping ads at the top of Google searches.