Active buyers reach 81.9 million, good news for Etsy in the US

2020 can be said to be a historical turning point for the U.S. retail industry. Due to the epidemic, offline retail was closed in large numbers, and online retail took off. The ups and downs all happened in the blink of an eye when the epidemic hit.

Etsy has 81.9 million active buyers

Recently, Etsy, an American handicraft e-commerce platform, released its fourth-quarter results. The financial report shows that Etsy's online merchandise sales in the fourth quarter increased by 118% to $3.6 billion . Etsy's data shows that the factor that contributed to its strong performance in the fourth quarter was not the accelerated growth of the mask product category, but the entire category. You know, the mask craze caused by the epidemic has made Etsy a lot of money.

In addition, it is worth noting that the activity of buyers on the Etsy website has increased, causing the number of active buyers to jump by 77% to 81.9 million. As Etsy's traffic soared, its active sellers also increased by 62% to 4.4 million. Tracing back to the source, this group of rising data is closely related to Etsy's entry into the top five US e-commerce platforms.

Unlike other platforms, Etsy operates a two-way online market that connects millions of passionate and creative buyers and sellers around the world. In addition to purchasing a variety of unique handicrafts, you can also search for a lot of new and unique second-hand and vintage music equipment on the Etsy platform.

The platform's winning strategies include these

Etsy has expanded its marketing videos to various channels to achieve comprehensive marketing goals. It is reported that in the fourth quarter of 2020, its total marketing expenditure accounted for 23% of total expenditure , about 49 million US dollars. However, it is worth noting that the Offsite Ads (off-site advertising) recently launched by the Etsy platform has caused dissatisfaction among many sellers, because sellers are likely to be forced to pay an additional advertising fee of 12%-15%.

To improve customers' online shopping experience, Etsy said that in addition to converting search queries into what buyers actually need, it will also expand personalized search to its applications to increase repeat purchase rates while improving conversion rates.

Etsy launched a "buy now, pay later" installment payment option for U.S. buyers , allowing customers to purchase higher-priced items, and expanded this payment method to two new regions in the U.S. In addition, Etsy continues to improve sellers' functionality and user experience, focusing on improving customers' core purchasing experience to increase consumer trust.

Etsy

Active Buyers

Quarterly Report