Etsy is well known and a major player in the handmade and vintage arena with a marketplace that offers curated collections and suggestions.
Etsy sales could reach $265 Million this quarter
Etsy sales could reach $265 million this quarter according to analysts at Zacks Investment Research. The lowest estimated prediction is $262.18 million and the highest sits at $268.48 million. When compared with Etsy sales of $200.03 million in the same quarter last year we see healthy year-over-year growth of 32.4%.
Analysts have also predicted that Etsy will have sales of around $811.97 million for the current fiscal year and $1.03 billion for next.
In Q3 Etsy announced 22% sales growth and had a whopping 44.8 million active buyers, shopping from 2.6 million active sellers around the world.
“During the third quarter we launched several transformative initiatives to serve as the building blocks for long-term, sustainable growth,”
“The core Etsy marketplace continued to perform well, with third quarter GMS and revenue growth of approximately 22% and 28% respectively. Through innovative solutions such as Etsy Ads and our new free shipping initiative, we are continuing to improve the core marketplace for buyers, while enhancing value for sellers and helping them grow. We are just beginning to see the impact of these initiatives, which we believe further our competitive advantages and will have a more meaningful contribution to our results in 2020 and beyond.”
-Josh Silverman, Chief Executive Officer, Etsy, Inc.
The incentives introduced included providing free shipping on orders of $35 or more to U.S. buyers and as of the end of the third quarter, 62% of items on the Etsy marketplace offered free shipping to U.S. buyers and 74% of U.S. listing views were eligible to ship for free. Then there was the introduction of Etsy Ads which meant Etsy sellers who previously used Promoted Listings and/or Google Shopping were migrated to Etsy Ads.
Clearly Etsy is growing to become a major player in the world of online Marketplaces and it will be interesting to see how this quarter fairs for the company compared to the predictions above.
Since summer 2019 ETSY banned a lot of new and old stores without any explanation and chances to solve problem with support.
I and my friends lost stores in september 19 🙁
Can you ask ETSY about this side of their business?
Etsy’s new ads are cancerous to sellers. Don’t believe the hype. Just a way to try a boost the stock temporarily. I don’t see it working long term.