COMPANY PROFILE -Etsy Inc.
Business Sector :E-Commerce, Retail
Operating Geography :United States, North America, Global
About Etsy Inc. :
Etsy, Inc. is an e-commerce firm founded in June, 2005 by Robert Kalin, Chris Maguire and Haim Schoppik, who were owners of a company called iospace and later Jared Tarbell. It is headquartered at New York in USA. The company primarily focuses on sale of hand crafted or vintage goods and craft products. The site acts as a marketplace for over 85 million items ranging across 50 different retail categories like bags, clothes, jewellery, home décor, toys, artwork, masks etc. Etsy Inc. is a marketplace which brings together 4.4 million active sellers and about 82 million active buyers. Its consolidated Gross Merchandise Sales (GMS) amounted to $10.3 billion in 2020. In its initial years Etsy attracted attention for its use of new tools and unique functionality to aid sellers gain clients and traffic. By 2008 it was considered to be a significant rival to eBay. Etsy gained major popularity in 2009 when its users organised an “etsyday” promotion on Twitter. The company filed for an IPO in 2015 for $100 million and made significant acquisitions like Reverb (platform for buying and selling of used/new musical instruments) in 2019 and Depop (shopping app) in 2021. The firm consists of over 2,400 employees as of early 2022 and operates across seven markets which include US, UK, Australia, Canada, France, Germany and India.
Its Unique Selling Proposition or USP is its commitment to building a place where creativity lives and thrives. The firm’s site is basically modelled on traditional craft fairs which allow its sellers to have personal storefronts at the cost of $0.20 per item listed on its website. Etsy’s mission circles around “keeping commerce human”. In our modern automation times, people often opt for a machine-made product. Etsy seeks to reaffirm human connection at the heart of commerce. Its vision is to commit to craft, minimise waste, embrace differences, dig deeper and lead with optimism.
Etsy Inc. Revenue :
US$ 2,329 million - FY ending 31st December 2021 (y-o-y growth 35.01%)
US $ 1,725 million - FY ending 31st December 2020
Competitive Analysis of Etsy Inc.
The SWOT analysis for Etsy is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Strategic acquisitions like Reverb increase its product portfolio offered on the platform
2. Yearlong demand for the products offered in the online store
3. Diversified revenue streams generated from marketplace and services offered
4. Global reach of its marketplace improves revenues and reduces risk of depending on one geography
5. Unique product portfolio and organic traffic base helps company grow sustainably
| 1. Vulnerable to cyber-attacks and data breaches
2. Relying on third party like Google Cloud and Amazon Web Services makes the company vulnerable to failures in operations
3. Risk of counterfeits, infringes and illegal goods being sold in the marketplace
|
| Opportunities | Threats |
1. Growing demand for online shopping among consumers
2. Changing consumer behavior to shop more online after COVID-19
| 1. Intense competition from other e-commerce players in the operating market
2. Rising government regulations towards e-commerce companies may hamper operations
|
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Detailed SWOT Analysis of Etsy Inc.
Strength
1. Strategic acquisitions like Reverb increase its product portfolio offered on the platform: In 2019, the e-commerce platform purchased Reverb, a well-known international website for buying and selling new, used, and vintage musical instruments. The business owns a thriving global community of buyers and sellers. As of December 31, 2021, 4.4 million active sellers and 90 million active buyers were connected through the Etsy and Reverb marketplaces. The company's marketplace currently offers close to 120 million items for sale across numerous retail categories. As a result of the acquisition, the business was able to generate $13.5 billion in gross merchandise sales (GMS), of which about 64 percent were generated by mobile purchases. The acquisition gave the business the opportunity to introduce new retail segments to its clients, expanding the platform to attract more customers and boosting profits. This gave the business the opportunity to expand internationally and establish itself as a major player in the musical instrument industry. When a seller, buyer, or both were located outside of the United States, 42% of its 2021 GMS was produced. With this acquisition, the company was able to expand into new markets and diversify its revenue streams. The company will be able to maintain its current course and generate increasing profits by making more strategic acquisitions.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Etsy is presented below in a table followed by the detailed analysis report:
| Political | Economical |
1. Impact of US-China trade war on e-commerce platform
2. Brexit and VAT charges impact on e-commerce in UK
3. Impact of change to Biden administration on operations of e-commerce companies
| 1. Impact of COVID-19 on online shopping companies |
| Social | Technological |
1. Increasing internet penetration may drive demand for online shopping
2. Rising income levels lead to increased spending on ecommerce platforms
| 1. Risk of cyber-attacks and data breaches for online shopping companies
2. Use of digital technologies like AI and ML to improve e-commerce services
|
| Legal | Environmental |
| 1. Government regulations on e-commerce platforms in USA | 1. Increasing carbon footprint of the planet due to ecommerce |
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Detailed Pestle Analysis of Etsy Inc.
Political
1. Impact of US-China trade war on e-commerce platform: Since more than a year ago, there has been a trade war between the United States and China, with each side imposing tariffs on the other. Over 800 categories of Chinese-made goods were subject to a 25% tax in July 2018 under the Trump administration. The increased costs of the tariffs must be absorbed by e-commerce merchants or passed on to customers. Many people do not believe that absorbing such high tariffs is a viable long-term plan. U.S. imports from China are down 12.5% in 2019, according to information from the Observatory of Economic Complexity, a website developed by the MIT Media Lab. China has dropped to third place from first as the top trading partner of the United States. Due to the scarcity of finished goods imported into China, domestic ecommerce sales will not be significantly impacted by the trade war. Chinese online retail sales will increase at an average CAGR of 4.82 percent between 2022- 2025 to US$1,412.00bn in 2022. Nearly half of all cargo trade between the United States and China is handled by the Los Angeles and Long Beach twin ports. The shipping industry is in disarray as a result of the U.S.-China trade war, beginning with retailers front-loading cargo in anticipation of higher tariffs.
The remaining section under "Political" is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Competitors :
- Art fire
- Big Cartel
- Storenvy
- Shopify
- Aftcra
Etsy Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| Etsy Inc. Segmentation, Targeting and Positioning (STP) Analysis |
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| Etsy Inc. Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in Etsy Inc. SWOT & PESTLE Analysis Report
1. Annual Report - https://s22.q4cdn.com/941741262/files/doc_financials/2021/ar/Q1_EtsyInc_Etsy_AnnualReport_2021.pdf
2. COVID-19 has changed online shopping forever, survey shows - https://unctad.org/news/covid-19-has-changed-online-shopping-forever-survey-shows
3. Government notifies new rules for e-commerce entities - https://timesofindia.indiatimes.com/business/india-business/government-notifies-new-rules-for-e-commerce-entities/articleshow/77153778.cms
4. Internet/Broadband Fact Sheet - https://www.pewresearch.org/internet/fact-sheet/internet-broadband/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Etsy Inc. SWOT and PESTLE analysis has been conducted by Amit Kabi and reviewed by senior analysts from Barakaat Consulting.
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