Etsy will run a big site-wide sale to attract holiday shoppers, CEO Josh Silverman announced on Monday during a call with Wall Street analysts. This will be the second site-wide sale after introducing new tools that let sellers opt-in to such promotions.
UPDATE 11/8/17: Etsy announced the sale will kick off on November 20th.
The first such sale kicked off in late August to coincide with the Labor Day holiday. Silverman shared a slide that showed a significant boost in sales for participating sellers – and it showed even sellers who did not participate saw a bump in sales thanks to incremental traffic attributable to the sale.
The Labor Day sale let sellers opt in to the sale, and shoppers were able to search and filter items on a special Labor Day Sale landing page that was available for 5 days. Etsy drove traffic to the page through marketing emails, site banners, social media, and through the Etsy homepage. Silverman didn’t indicate when the holiday shopping event would take place or its duration.
The CEO is clearly pinning his hopes on sellers offering discounted prices and free shipping, and it seems Etsy will do everything it can to promote such listings. He said holiday shoppers believe they are overpaying if items aren’t on sale. And Etsy’s Chief Financial Office noted, “we can curate items with free shipping.”
Silverman revealed that Etsy had also run a subsequent 3-day email promotion designed to build retention. It rewarded buyers with gift cards after they made a qualifying purchase. The promotion runs for 90 days, and as of last Friday (November 3), over 50% of participating buyers have returned to the site and bought another item thanks to the promotion.
“Sales and promotions are a time-tested way to drive customer engagement, retention, and overall excitement,” the CEO said.