The number of sellers has reached 10 million. What is the magic of Etsy in the United States?

The COVID-19 pandemic has brought huge business opportunities to e-commerce, making online sales popular. The latest data shows that in the past 12 months, Etsy has added nearly 3 million sellers, more than double the previous period. Before the beginning of 2020, Etsy had less than 7 million sellers, and now the number of sellers has reached 10 million.

88% of American consumers prefer

According to Marketplace Pulse, in 2020, Etsy added 300,000 new sellers per month. In the three years before the COVID-19 pandemic, it added an average of about 100,000 new sellers, which has remained stable since early 2017. From the data, the accelerated growth in the number of sellers began in April 2020, and by April 2021, it had tripled the previous number.

Among the latest sellers, most are from the United States, the United Kingdom, Canada, Germany, Australia, France, India, Turkey, Russia and Spain. In addition, the number of active sellers (sellers who list products for sale) on Etsy has more than doubled in the past 12 months. This has brought Etsy's sales of more than 100 million products, compared to only 60 million a year ago.

Among them, some unique products are favored by consumers, such as masks and home aromatherapy brought by the epidemic, vaccine-themed products that have been popular recently, household goods, furniture ornaments, and wedding-related products. In general, this handmade and unique market meets the needs of 88% of buyers, and its unique advantages make it flourish better than other platforms in the e-commerce industry.

GMV exceeded 10 billion, and both supply and demand doubled

In fact, in the past 12 months, both supply and demand on Etsy have doubled. The number of active buyers on the platform increased by 76.7% year-on-year to 81.9 million, which is twice the same period in 2019. Among them, the mask boom in the early days of the COVID-19 pandemic not only made Etsy a lot of money, but also attracted 61 million new users to Etsy, while the number of "habitual buyers" on its platform increased by nearly 160%.

The growth of sellers and buyers has driven the GMV of the Etsy platform to $10 billion in 2020, more than double that of 2019. According to estimates from Marketplace Pulse, Etsy's sales have remained high so far in 2021, so first-quarter performance may also have increased by 100%.

Unlike general e-commerce platforms, Etsy focuses on providing "handmade and unique" products. Although it seems to be a very small niche market, it is this uniqueness that makes Etsy the most irreplaceable platform.

It is also very convenient to register on Etsy. You can register as an individual and you don’t need a business license. You only need an email address (it is recommended to use an international email address); PayPal; a dual-currency credit card; and a set of handmade product photos. You can then register a store on its official website. Interested sellers can pay special attention to it.

Seller

Etsy

GMV