18 Fascinating Facts About Etsy: A Must-Read for Shoppers and Sellers
Are you a fan of unique, handmade items? Look no further than Etsy! This online marketplace has become a go-to destination for shoppers seeking one-of-a-kind products from independent sellers.
But did you know there’s more to Etsy than just browsing and buying? In this article, we’ll dive into a list of 18 intriguing facts about Etsy that you may not have known before. From its humble beginnings to its current status as a global e-commerce giant, Etsy has certainly come a long way. So let’s explore what makes Etsy so special and discover some surprising tidbits along the way!
Rob Kalin, Chris Maguire, and Haim Schoppik are the co-founders of Etsy.
1 They founded the website in 2005 with the aim of creating a platform for independent sellers to sell their handmade and vintage goods. Since then, Etsy has grown into a massive global marketplace, connecting millions of buyers with sellers from around the world.
Despite the company’s growth, Etsy remains committed to its original mission of keeping commerce human and supporting independent creators.
“Etsy” was not the original name of the company.
2 The founders considered various names before settling on “Etsy,” including “Kaleidoscope” and “Indieco.” According to Rob Kalin, the name “Etsy” was chosen because it “had no meaning,” and the founders liked the way it sounded.
They also appreciated that the name was short, easy to remember, and easy to spell. So, they went with Etsy and it has since become a household name for online shoppers and independent sellers alike.
Etsy’s mission is to “keep commerce human” by connecting buyers with independent sellers.
3 The company aims to provide a platform for independent creators to showcase and sell their unique, handmade, and vintage goods. By doing so, Etsy hopes to create a more personalized and meaningful shopping experience for buyers and to support small businesses and independent creators.
Etsy also emphasizes the importance of sustainability and social responsibility in its business practices, and strives to create a positive impact in the communities it serves.
Etsy has over 4.4 million active sellers and 90 million active buyers.
4 This makes Etsy one of the largest e-commerce marketplaces in the world, with a vast and diverse range of unique, handmade, and vintage goods available for purchase. Etsy’s broad reach and large customer base make it an attractive platform for independent creators and small businesses looking to showcase and sell their products to a global audience.
According to Etsy’s 2020 Transparency Report, 83% of Etsy’s active sellers identify as women.
5 This statistic highlights the important role that Etsy has played in empowering women entrepreneurs and supporting gender diversity in the e-commerce industry.
Etsy has been praised for providing a platform where women and other marginalized groups can showcase their unique products and build successful businesses. The company has also implemented various initiatives aimed at supporting women-owned businesses, such as the Etsy Equity Program, which provides financial support and resources to help women entrepreneurs grow their businesses.
Etsy’s headquarters are located in Brooklyn, New York.
6 The company was founded in Brooklyn in 2005 and has since grown into a global e-commerce giant with a presence in many countries around the world. Etsy’s headquarters are situated in the DUMBO (Down Under the Manhattan Bridge Overpass) neighborhood of Brooklyn, which has become a hub for technology and creative industries in recent years.
The company’s headquarters feature open workspaces, communal areas, and a variety of amenities aimed at promoting collaboration, creativity, and employee well-being.
Etsy went public in 2015 with an IPO that valued the company at $1.8 billion.
7 The IPO was a significant milestone for Etsy, marking the company’s transition from a privately held startup to a publicly traded corporation. The IPO was also notable for its focus on sustainability and social responsibility, with Etsy emphasizing its commitment to ethical and responsible business practices in its public filings.
Since going public, Etsy has continued to grow and expand, and the company’s market capitalization has increased significantly, reflecting the continued growth and success of the platform.
According to Etsy’s 2020 financial results, the company’s revenue for the full year 2020 was $1.7 billion.
8 This represented a significant increase from the previous year, as the COVID-19 pandemic drove a surge in e-commerce sales and boosted demand for unique, handmade goods. The pandemic also led to a surge in new sellers on the platform, as many people turned to Etsy as a way to start a home-based business or generate additional income.
Etsy’s strong financial performance in 2020 reflected the company’s ability to adapt to changing market conditions and capitalize on shifting consumer trends.
Yes, that’s correct! One of the key features of Etsy’s platform is that it allows sellers to create and customize their own online storefronts.
9 Sellers can create their own unique store name, logo, and banner, and can also customize their store’s layout, color scheme, and other design elements. This allows sellers to create a distinctive and personalized shopping experience for their customers, and to establish their own unique brand identity within the larger Etsy marketplace.
The ability to create custom storefronts is one of the many reasons why Etsy has become such a popular platform for independent creators and small businesses looking to build an online presence.
The most popular categories on Etsy are home and living, jewelry, and craft supplies.
10 These categories have consistently been among the top-selling on Etsy, reflecting the platform’s focus on unique, handmade, and personalized goods.
Home and living includes items such as home decor, furniture, and bedding, while jewelry encompasses a wide range of handmade and vintage pieces, from earrings and necklaces to bracelets and rings.
Craft supplies includes materials for various types of crafting, such as fabric, yarn, and beads. However, Etsy offers a vast range of other categories as well, from clothing and accessories to art and collectibles, reflecting the diversity and creativity of the platform’s sellers.
Etsy’s marketplace spans across 234 countries and territories.
11 Etsy’s international presence is a key factor in its success, allowing buyers and sellers from all over the world to connect and do business together. To support its global community, Etsy has implemented a variety of tools and features aimed at making cross-border transactions as seamless and straightforward as possible.
These include multi-currency pricing, translation tools, and customs and import tax calculators, among others. By enabling sellers to reach a global audience and buyers to access unique and one-of-a-kind goods from around the world, Etsy has become a leading player in the global e-commerce industry.
In 2020, Etsy saw a 55% increase in sales from the previous year.
12 Gross merchandise sales is the total value of all goods sold on the platform, including the sale price and any shipping fees or taxes. This significant increase in sales was largely driven by the impact of the COVID-19 pandemic, which prompted many consumers to shift their shopping habits online and seek out unique, handmade, and vintage goods on Etsy.
The surge in sales also led to an influx of new sellers on the platform, as many people turned to Etsy as a way to start a home-based business or generate additional income. The strong growth in sales in 2020 reflects the continued popularity of Etsy’s platform, as well as its ability to adapt and thrive in a rapidly changing market environment.
Etsy’s mobile app has been downloaded over 33 million times.
13 Reflecting the growing importance of mobile commerce in the e-commerce industry. The mobile app allows users to access Etsy’s marketplace from their smartphones and tablets, and provides a streamlined and user-friendly shopping experience. With the mobile app, users can browse and search for products, make purchases, and manage their orders and account settings, all from the convenience of their mobile device.
Etsy has invested heavily in its mobile app, regularly releasing updates and new features to improve the user experience and keep up with changing technology trends. The popularity of the Etsy mobile app is a testament to the company’s commitment to innovation and to meeting the evolving needs of its global community of buyers and sellers.
The top-selling items on Etsy in 2020 were face masks and personalized gifts.
14 With the outbreak of the COVID-19 pandemic, face masks became a highly sought-after item, and many Etsy sellers quickly pivoted to meet this new demand by creating and selling a wide range of handmade and personalized face masks. Personalized gifts, such as custom jewelry, monogrammed items, and personalized home decor, have also been a consistent top-selling category on Etsy, reflecting the platform’s focus on unique and one-of-a-kind goods.
Other popular categories on Etsy in 2020 included home decor, craft supplies, and accessories such as bags and wallets. The diversity and creativity of Etsy’s sellers is a key factor in the platform’s continued success, allowing buyers to access a wide range of unique and high-quality products that cannot be found elsewhere.
Etsy’s search algorithm takes into account a variety of factors to ensure that buyers are presented with the most relevant and high-quality search results.
15 These factors include relevance, quality, and customer satisfaction, among others.
Relevance refers to how closely a product matches a buyer’s search terms, as well as other relevant factors such as the item’s category, tags, and attributes. Quality refers to the overall quality of the item, as well as the seller’s reputation and track record of delivering high-quality products and excellent customer service. Customer satisfaction refers to how satisfied buyers have been with their previous purchases from that seller, as measured by feedback ratings and reviews.
Other factors that Etsy’s search algorithm takes into account include recency, meaning how recently the item was listed, and engagement, meaning how many buyers have viewed or favorited the item. Etsy’s search algorithm is designed to provide a personalized and relevant shopping experience for each buyer, while also ensuring that high-quality and reputable sellers are prioritized in search results.
Etsy takes intellectual property rights very seriously and has a team dedicated to investigating and removing counterfeit items from its platform.
16 The company has a strict policy prohibiting the sale of counterfeit goods and takes steps to ensure that its sellers comply with this policy.
Etsy’s Intellectual Property team monitors the platform for potential trademark and copyright infringements and works closely with sellers to help them understand Etsy’s policies and legal obligations. If Etsy receives a notice of intellectual property infringement, it will investigate the matter and take appropriate action, which may include removing the listing and/or suspending the seller’s account.
In addition to its own efforts, Etsy also encourages rights holders to report any suspected infringement through its Intellectual Property Infringement form, which allows rights holders to submit a complaint and request that Etsy investigate the matter. By taking a proactive approach to intellectual property rights, Etsy is able to maintain a trusted and reputable platform for both buyers and sellers.
Etsy offers a variety of seller tools and resources to help its sellers succeed on the platform.
17 These tools and resources include analytics, marketing tips, and educational resources to help sellers improve their listings, optimize their shops, and reach more buyers.
Etsy’s seller analytics tool provides sellers with valuable insights into their shop’s performance, including metrics such as views, visits, and sales. Sellers can use this data to identify trends, track the effectiveness of their marketing efforts, and make informed decisions about their business.
Etsy also offers a variety of marketing tools and resources to help sellers promote their products and reach more buyers. These resources include tips and best practices for social media marketing, email marketing, and other forms of digital marketing.
In addition to these tools and resources, Etsy also offers educational resources to help sellers improve their skills and knowledge. These resources include online courses, workshops, and tutorials on topics such as photography, product development, and branding.
By offering these tools and resources, Etsy is able to support its sellers and help them succeed on the platform, while also maintaining a high level of quality and uniqueness among its product offerings.
Etsy has a strong commitment to sustainability and has implemented several initiatives to reduce its environmental impact.
18 These initiatives include carbon-neutral shipping and a commitment to offsetting all carbon emissions from shipping.
Etsy’s carbon-neutral shipping program allows sellers to purchase carbon offsets to balance out the carbon emissions generated by the shipping of their products. Etsy also purchases carbon offsets for all of its own shipping emissions, ensuring that every shipment made through the platform is carbon neutral.
In addition to its carbon-neutral shipping program, Etsy has also implemented several other sustainability initiatives, including a commitment to reducing waste and conserving resources. The company encourages its sellers to use eco-friendly packaging materials and has implemented a program to reduce the use of single-use plastics in its own operations.
Overall, Etsy’s commitment to sustainability reflects its values as a company and its desire to create a positive impact on the world. By implementing these initiatives, Etsy is able to support environmentally responsible practices while also maintaining its position as a leading e-commerce platform.
