EcommerceBytes-NewsFlash, Number 2454 - January 11, 2011 1 of 4 
Etsy Sales Increase 74% in 2010 as Growth Rate Slows
By Ina Steiner
Etsy sales increased 74% last year to $314.3 million, up from $180.6 million in 2009. However, the sales growth rate has been slowing as the site has matured - Etsy's 2009 sales had grown 105% from 2008. And the number of new items listed in December was actually down from a year ago to 1.5 million, 16% lower than December 2009's 1.8 million new items.
December dollar sales were 61% higher than a year ago, and unit sales were up 49%, an indication sellers are getting higher selling prices for the items that sell. It isn't clear whether international sales and currency exchange are having any effect on the numbers; Etsy opened an office in Germany and has hired a small staff in Europe.
| Etsy GMV: 2008 - 2010 | |||||
| 2008 (in Millions) |
2009 (in Millions) |
% Change ('08-'09) |
2010 (in Millions) |
% Change ('09-'10) |
|
| January | $4.25 |
$9.9 |
133% |
$20.1 |
103% |
| February | $4.8 |
$10.2 |
113% |
$20.2 |
98% |
| March | $5.6 |
$12 |
114% |
$22.4 |
87% |
| April | $6 |
$12.6 |
110% |
$22.4 |
78% |
| May | $ 6.5 |
$13.3 |
105% |
$22.9 |
72% |
| June | $6.5 |
$12.8 |
97% |
$22.1 |
73% |
| July | $7.0 |
$13.6 |
94% |
$23.8 |
75% |
| August | $7.55 |
$15 |
99% |
$25.5 |
70% |
| September | $7.93 |
$16 |
102% |
$26.6 |
66% |
| October | $8.4 |
$17.7 |
111% |
$29.9 |
69% |
| November | $10.8 |
$21.9 |
103% |
$37.3 |
70% |
| December | $12.9 |
$25.6 |
98% |
$41.1 |
61% |
| Total | $88.23 |
$180.6 |
105% |
$314.3 |
74% |
Source: Etsy.com
Membership continues to grow, recording a 52% increase in new members in December compared to December 2009. Page views were up 40% for the month, year-over-year.
Etsy became profitable in 2009 under the leadership of Maria Thomas, who stepped down as CEO in December 2009 and was replaced by founder Rob Kalin in January 2010.
Etsy told the New York Times last month it was on track to handle close to $400 million in transactions in 2010, apparently an optimistic overestimate, and had expected to bring in $30 million to $50 million in revenue.
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 ina@ecommercebytes.com.
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