Etsy Gross Merchandise Sales Rose 105% in 2009
By Ina Steiner
Etsy saw its annual GMV (the value of all goods sold on its site) jump to $180.60 million in 2009 from $88.23 million in 2008, an increase of 105 percent. The marketplace for handmade and vintage goods continues to attract new users, with over 307,000 members joining in December 2009.
Etsy's traffic figures show consistent growth over the past two years. It's interesting to note that traffic plateaus (or slightly decreases) in two months of the year, December and June, but quickly rebounds. (In February and April of 2009, traffic also dipped slightly from previous months.) Monthly traffic growth compared year-over-year ranged between roughly 60 and 75 percent in 2009.
Etsy became profitable in 2009 under then CEO Maria Thomas, and the company is expanding internationally, opening an office in Germany. Founder Rob Kalin took back the role of CEO this month, and stated that the company's Board of Directors was focused on service not revenue, believing that if Etsy builds the best tools and supports the community, revenue would follow.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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