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Ina Steiner on EmailIna Steiner on LinkedinIna Steiner on Twitter
Ina Steiner
Ina Steiner
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). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.

6 thoughts on “Etsy Grows Sales 21% in Second Quarter But Grows Its Own Revenue 37%”

  1. Lets break this down, shall we :
    “Our excellent second quarter growth in revenue and GMS reflects solid execution across our portfolio of product and marketing investments and the strength of our core marketplace,” said Josh Silverman, Etsy, Inc. Chief Executive Officer.

    *Silverman is hugely disrespecting the “core marketplace”….removing some critical key metrics artists depend on.
    *Silverman is blissfully unaware Etsy has NO PORTFOLIO OF PRODUCT. Rather it is the COVETED COLLECTION of the creations of talented artists being hijacked and used improperly for his own personal gain.

    “We are making great progress improving our product experience and marketing capabilities, and it is paying off.”

    *There has been a degradation in the entire routine from beginning to end for artists.
    * “Product Experience” …..unless it’s a living breathing thing, there’s no experience going on there….
    * Marketing, there is NO MARKETING. Showing 10 seconds of mass produced Chinese crap does NOT a marketing technique make.

    “In addition, we have a number of bold new initiatives which we believe will fuel our growth even further, including enhancing the shipping experience, helping our sellers better market and grow their businesses, and our planned acquisition of Reverb.”

    *Shipping is NOT in the “Wheelhouse” or “Purview” of anyone OTHER THAN the artist, therefore making this a delusional statement by Sliverman.
    *Shipping is NOT an experience, unless your life is so dull, and boring, or you’re an idiot.

    “fuel our growth even further” is Silverman speak for : “Now I get to buy that mega yacht to compete with the guy in the slip next to me.”

    *At this juncture, Etsy has no future.

    We need a Brand New All American NON Corporate Venue. NOW. Please.

  2. Just read all the “BLAH BLAH” about Etsy enhancements.
    Not impressed.
    They want US to pay for Etsy / Google ads.
    Not happening.
    Etsy can pay for ads with all the free money they get from us.
    The biggest thing is : Etsy will soon find More ways to wreck the platform.
    It just is not a pleasant experience (now That’s an experience) being on Etsy anymore.
    If they crack that whip one more time, I’ll wrap it around Silverman’s neck……

  3. “we migrated a majority of our systems to Google Cloud”

    As I mentioned in another post, cloud space is expensive and they already do not pay for enough of it to display ALL products in a search (one test search only displayed 14K of 530K listings — 2.6% of what is available). So, basically, they’re paying for cloud space so their tech department can focus on innovation rather than properly running the site (as their tech-head stated he wanted them to do).

    That’s not the purpose of a tech department (aka, IT department – IT being short for information technology). What they’re “wanting” to do is the purpose of a product development department, which does require programmers (an engineering department), so what are those departments working on? Pushing free shipping that’s not free and is against the law? Designing new tools for Etsy to take more money from sellers rather than actually helping small businesses as they claim?

    Where is the separation between their IT department and the departments actually responsible for what IT is claiming it wants to do instead of its real job? So, while the tech department is busy innovating, instead of properly running and maintaining the site and its servers, Etsy is paying for cloud space so they can continue tinkering with an already unstable platform.

    That just goes to show how inexperienced the people running this show really are. Their department heads don’t even know the purpose of their own departments — and they’re all working under an equally inexperienced and seemingly ignorant CEO. Although, he could know that he’s just a crook trying to get away with as much as he can since the government has been sitting idly by.

    “International domestic growth, our fastest growing trade route”

    I’m guessing he’s referring to international sellers receiving more orders from their own domestic consumers. That would have everything to do with the fact that they are limited to their own country’s or region’s browsers. Many international sellers have claimed that most of their sales come from the US, but that those sales have plummeted. Now they’re forced to serve solely their own area. How can Etsy call itself a global marketplace when it throttles sellers’ listings to limit their marketing to locals?

    This is a perfect example of how Silverman manipulates things to produce false results to “back up” his false claims. He claims it’s their fastest growing trade route, but he fails to mention WHY and how he’s hurting international sellers by seriously limiting their audience. Just like he offered site-wide free shipping to skew results about what shoppers prefer so they could push free shipping to ensure they maximize profits on final value fees.

    Can you say…con artist?

    “Promoted Listings, our on-site ads platform, and Google Shopping, an off-site marketing tool for Etsy sellers, will be streamlined into one unified ad platform called Etsy Ads where sellers can set a budget and allow Etsy to optimize between channels, targeting a return on their spend.”

    Most likely resulting in even less transparency into where a sellers’ advertising dollars are going. Sellers are already complaining about not being able to determine if the clicks they’re paying for are legit or not.

    “Total revenue was $181.1 million for the second quarter of 2019, up 36.8% year-over-year, driven by growth in both Marketplace and Services revenue.”

    Too bad marketplace revenue still falls short of what sellers are paying for services. Growth or no growth, that’s a clear indicator of where Etsy is putting its focus.

  4. Sorry–I must be one of the few sellers whose Etsy revenue & sales are down 50% this year.

  5. If you’re selling on Etsy, it’s implied and understood (by the nature of it’s original intent) that you will fill a Niche with your product.
    By doing so, it will sell itself.
    It can’t fail if you observe the lives of those around you and seek to bring happiness in a simple way.
    Relax and take stock of your surroundings.
    Your discovery Must be Unique.

  6. My Q2 Etsy revenue was up 218% over Q2 2018. I’m not a “1099 seller” … just get lucky once in awhile!

    @TheEnd – Guess you’ve not seen Etsy’s TV commercials? They seem to have backed off those in the last couple of months; hope they bring them back soon!

    @TheEnd – “We need a Brand New All American NON Corporate Venue. NOW. Please.”
    MakersFront is hoping to be most of that … at least new & non-corporate. Check it out!

    @PickyChicky – “Can you say…con artist?” Joshy was previously associated with eBay. ’nuff said!

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