Etsy is an online marketplace specialising in handmade and creative products, founded in 2005 and based in the United States. The platform allows sellers to sell original and handmade goods, including art, jewellery, clothing and home décor, etc. Known for its uniqueness and community-driven nature, Etsy has been likened to ‘Grandma's basement collection’, with a greater focus on personalisation and creativity than larger e-commerce platforms such as eBay and Amazon. Creativity.
Platform Characteristics
- User base: As of 2017, Etsy has approximately 33 million buyers and an annual turnover of $3 billion.
- Seller support: Etsy provides a variety of tools to help sellers manage their shops, such as the Sell on Etsy app, discount postage services, etc., and has a seller forum and magazine to promote experience sharing.
- Internationalisation: The platform attracts users from all over the world, especially from the UK, Europe, Canada and Australia. 97% of users are female and transactions are mainly conducted through PayPal.
History
- 2005: Etsy is founded by Robert Kalin and others.
- 2008: the platform's turnover reaches $87.5 million.
- 2015: Etsy conducts an initial public offering (IPO) with a market capitalisation of up to $1.77 billion.
- 2017: a new crafts platform, Etsy Studio, is launched and new features are added.
