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Amazon launches Etsy competitor Handmade at Amazon

Amazon launches Etsy competitor Handmade at Amazon

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Early this morning, Amazon officially launched its already anticipated hand-crafted products site. Handmade at Amazon, according to the e-commerce giant, is currently offering more than 80,000 products from "artisans" in more than 60 countries, with wares in categories like jewelry, art, decor, furniture, and more.

More than 80,000 products

The move is a clear shot at one of Amazon's relatively niche competitors: Etsy. Amazon appears ready to take a bite out of the handcrafted products market by connecting its already large user base to independent sellers.

According to The New York Times, Amazon will forgo a listing fee but take 12 percent of sales to cover costs. (Etsy takes a 20-cent per-item fee.) The company will also be able to entice sellers with Prime shipping options, giving prospective buyers a way to receive items quickly and without shipping costs.

Etsy was valued at more than $3.5 billion after its April IPO, but the company's stock prices have fallen precipitously since. Still, as the Times reports, the company does about $2 billion in yearly sales. Amazon, meanwhile, has shown some willingness to expand into more niche areas recently, already launching its "home services" section earlier this year.