Etsy's second-quarter revenue was nearly $530 million, a steady increase!

In recent months, account suspension and related trends have repeatedly become hot topics for sellers to discuss. Which company's store is closed today, which one will be laid off or have debts collected tomorrow, etc. It seems to be a consensus that cross-border e-commerce is not easy to do, and the diversification of platform choices has become the key. Etsy

It may be considered as one of the diversified options for seller platforms.

Recently, Etsy released its latest financial report for the second quarter. The financial report shows that Etsy's net income reached US$98.2 million , with a relatively stable growth. The market GMV was US$2.8 billion , a slight decrease from the first quarter. Revenue was nearly US$530 million , a year-on-year increase of more than 20%. Previously, foreign media reported that Amazon's latest unfavorable financial report has dragged down the stock prices of several e-commerce platforms including Etsy, but for now, apart from the stock price, it has not had much impact on its overall revenue.

In the financial report released this time, we can see that Etsy's product sales and the number of new buyers have increased, increasing by 13% and doubling respectively. However, the number of active buyers has decreased compared with the first quarter, with a decrease of about 300,000. The increased liquidity of buyers during the epidemic and the recovery of the offline market may be factors that have caused the decline in the number of active buyers.

Etsy previously stated that due to the impact of the epidemic, the number of new buyers in the second quarter may decline, but according to the data released this time, it has not declined but instead showed an upward trend, with the number of increases reaching 8 million.

As the world's largest handmade market platform, Etsy has reduced competition with other large platforms due to its unique positioning, and has maintained its leading position in the industry in recent years. This year, home clothing, children's products, pet products, and household multifunctional products on the Etsy platform are still as popular as last year. Due to the impact of the epidemic, masks and DIY will continue to grow.

  Just last month, Etsy completed the acquisition of ELo7 and Depop. It is reported that the acquisition funds mainly consisted of cash. It can be seen that its cash flow performance is relatively good. With the expansion of the market (second-hand platform and Latin American market) after the two acquisitions, Etsy's core market business volume has also continued to grow. Based on this, some people said that Etsy is expected to maintain steady growth in the third quarter, but the growth rate will not be too large.