$Etsy Inc (ETSY.US)$
Description
Etsy is an American e-commerce website founded on 18th June 2005, focused on handmade and vintage items and craft supplies. Etsy operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers. Etsy’s primary marketplace is their website, (Etsy.com). The Etsy marketplace connects creative entrepreneurs with thoughtful consumers looking for items that are intended to be special, reflect their sense of style, or represent a meaningful occasion. Etsy operates in 6 core geographies (United States, United Kingdom, Canada, Germany, Australia and France). These six locations have the largest concentrations of Etsy buyers and sellers.
Industry Overview
The Ecommerce industry has been growing for the past 10 years at steady rate of around 15%. However, in 2020 there has been a massive spike in total sales for eCommerce with a 44% growth rate due to the COVID19 pandemic.
Etsy differentiates itself from major eCommerce retailers by focusing on handmade products and providing various services to its sellers. Sellers can solely focus on developing their products and entrust Etsy to manage their other business aspects such as inventory management, advertising, shipping, accounting for a small fee.
Etsy’s biggest competitors are mainly Amazon and Shopify. Amazon Handmade was launched in 2015 to compete with Etsy. Labelled as “...