What is Etsy? Etsy Vs Amazon Vs eBay? How does it make money?

#Etsy #eCommerce #Money

Welcome to Kimavi Super Simple Educational Videos.

#Etsy #eCommerce #Money

What is Etsy? Etsy Vs Amazon Vs eBay? How does it make money?

Etsy has been compared to "a crafty cross between Amazon and eBay", and to "your grandma's basement"

Robert Kalin, Etsy founder, said that he named the site Etsy because he "wanted a nonsense word because I wanted to build the brand from scratch

Etsy is an American e-commerce website focused on handmade or vintage items and craft supplies

These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools

All vintage items must be at least 20 years old. The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item

As of December 31, 2018, Etsy had over 60 million items in its marketplace, and the online marketplace for handmade and vintage goods connected 2.1 million sellers with 39.4 million buyers

At the end of 2018, Etsy had 874 employees

In 2018, Etsy had total sales, or Gross Merchandise Sales , of US$3.93 billion on the platform

In 2018, Etsy garnered a revenue of US$603.7 million and registered a net income of US$41.25 million

The platform generates revenue primarily from three streams:

its Marketplace revenue includes a fee of 5% of final sale value, which an Etsy seller pays for each completed transaction, on top of a listing fee of 20 cents per item; Seller Services, Etsy's fastest growing revenue stream, includes fees for services such as "Promoted Listings", payment processing, and purchases of shipping labels through the platform; while Other revenue includes fees received from third-party payment processors

In November 2016, Etsy disclosed that it paid US$32.5 million to purchase Blackbird Technologies, a startup that developed AI software used for shopping context/search applications

Etsy is popular as a side-business, as well as a place to buy goods made from recycled and upcycled materials, along with less expensive or more unusual versions of mass-produced items

....

....

Thank you from Kimavi, Please visit us at Kimavi.Com for more Super Simple Educational videos