eBay, Inc. (EBAY) on Watch as Etsy Plans Full Launch of 'Etsy Wholesale' in August

eBay (Nasdaq: EBAY) is lower Tuesday following market reports that one noted competitor is going to take the next step in e-commerce.

Etsy, via its official blog, updated on plans to launch Etsy Wholesale. The company describes Etsy Wholesale as this:

On Etsy Wholesale, sellers connect with qualified independent boutiques both in the US and abroad. Retail buyers looking for unique, hard-to-find products to stock in their stores can place orders year-round through a streamlined ordering process.

Pricing for Etsy Wholesale will be a one-time joining fee for new sellers of $100 plus a 3.5 percent transaction fee on wholesale purchases.

The blog continues:

In addition to facilitating orders between sellers and independent boutiques, our partnerships with large retailers such as Nordstrom, West Elm and Indigo have presented wholesale sellers with new opportunities to scale up and expand their audience. Etsy-sponsored events with tradeshows like Capsule, American Craft Council and the National Stationery Show (coming up in May) have further extended the reach of sellers doing wholesale ... August will bring a host of new opportunities to Etsy Wholesale sellers, including a launch event catering to the industry’s top lifestyle and home boutiques, new retail partnerships and marketing campaigns that celebrate the inspiring, diverse group of sellers that comprise Etsy Wholesale. These buyer-facing initiatives will give Etsy sellers access to the country’s top boutiques, bringing more value, and more success to our growing independent designer community.

So, while it's not completely increased competition for eBay, Etsy has been an up-and-coming name over the last few years for higher-end goods, which might take away some business from eBay.

Shares of eBay are down 1.5 percent.

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