Etsy's first-quarter sales increased 144%, and its growth in the United States is encouraging

Recently, Etsy announced gratifying first-quarter results. Data showed that its market sales increased by 144% to US$2.9 billion in the first three months of 2021, including Reverb. Sales increased by 132% and revenue increased by 141%.

Etsy's first-quarter sales hit $2.9 billion

Financial report data shows that Etsy's consolidated GMS was US$3.1 billion, a year-on-year increase of 132.3%; while the GMS of the Etsy market was US$2.9 billion, a year-on-year increase of 144.1%. Among them, consolidated revenue was US$550.6 million, an increase of 141.5% over the same period in 2020, and the adoption rate (i.e. consolidated revenue divided by consolidated GMS) was 17.5%.

Notably, Etsy 's net revenue was $143.8 million, up 1,048.1% year-over-year, with diluted earnings per share of $1.00. In terms of its marketplace users, GMS per active buyer on Etsy increased 20% year-over-year for the twelve consecutive months.

In 2020, the Etsy marketplace attracted approximately 16.3 million new buyers who had not purchased in a year or more. Habitual buyers (who have purchased six or more days and spent $200 or more in the past 12 months) grew 205% year-over-year, the highest growth ever for this buyer segment.

Etsy is constantly improving the experience for customers on its marketplace

In the first quarter , Etsy has enhanced personalized search and incorporated more user features into its ranking model. According to Etsy, this is to better understand users' interests and needs, thereby improving engagement, conversion rates and repeat purchase rates across all devices .

Improving and enhancing the quality of relationships to drive buyer engagement, loyalty and purchase frequency. During the quarter, a new version of the “Sell on Etsy” app was also released with updated features such as a redesigned dashboard and “Convos” to enhance interactions between buyers and sellers.

In addition, a strong effort will be made to improve buyer satisfaction, with a focus on speed expectations, delivery predictability, issue resolution, and seller reputation. For example, we are making our buyer protection policies more visible to buyers to enhance trust, offering sellers additional discounted shipping labels, and expanding seller tools to reduce delays by clearly displaying their timelines for upcoming and /or overdue orders.

USA

Etsy

Quarterly Sales