Alex Wright, Director of Research, Etsy
Etsy is one of the biggest online marketplaces out there today. They boast 1.6 million active sellers, 24 million buyers, and 2.39 billion sold through the platform. They are a marketplace and their success hinges on the community of sellers that call it home. Though it doesn’t hurt, they can also count on an engaged buyer base, on Etsy to hunt for products they will probably not be able to find anywhere else
Etsy’s desire to create a community where their sellers and buyers feel comfortable and at home through a digital platform is remarkable and it can probably account for their retention of these buyers and sellers and for their rising success.
Monetization mostly comes from a 3.5% transaction fee, and optional listing advertising.
A huge focus goes into helming an ethical business. A highlighting of “Production by the masses, not mass production”, being a registered B Corporation for social good, and striving to become a democratized global platform makes Etsy a remarkable figure in the world of Ecommerce.