Following a rise in popularity during the COVID-19 pandemic in 2020, the e-commerce platform focused on vintage, handmade, and specialty wholesale items, Etsy, continued to see the results of its popularity in the following years. While gross merchandise sales peaked in 2021, in 2024, Etsy's gross merchandise sales volume still amounted to over 13 billion U.S. dollars.
Attaining and retaining consumers
Following the coronavirus pandemic in 2020, the e-commerce platform maintained its jump in popularity in 2021 and 2022. In 2022, the company spent about 22 million dollars more on its global advertising expense than in the previous year. Etsy's advertising spend has been consistently rising since 2016. In addition to advertising spend, Etsy also made sure to increase its global marketing expense, both dependable methods in order to attract new users towards buying or selling on the platform.
Bridging the gap between artists and buyers
Even though, or precisely because, Etsy operates on a niche market model, the online marketplace has managed to attract a large number of sellers and buyers over the past few years. Following the e-commerce boom triggered by the coronavirus, the number of active sellers on the platform went from 4.4 million in 2020 to 7.5 million a year later. Similarly, the number of buyers grew by nearly 18 percent in a year, with approximately 96 million users making at least one purchase in 2021. In 2022, while growth has declined, it has not been by much. The platform still retains 7.47 million sellers, along with 95 over million buyers.
Annual gross merchandise sales (GMS) of Etsy Inc. from 2005 to 2023
(in million U.S. dollars)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Etsy. (February 22, 2024). Annual gross merchandise sales (GMS) of Etsy Inc. from 2005 to 2023 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/219412/etsys-total-merchandise-sales-per-year/
Etsy. "Annual gross merchandise sales (GMS) of Etsy Inc. from 2005 to 2023 (in million U.S. dollars)." Chart. February 22, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/219412/etsys-total-merchandise-sales-per-year/
Etsy. (2024). Annual gross merchandise sales (GMS) of Etsy Inc. from 2005 to 2023 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/219412/etsys-total-merchandise-sales-per-year/
Etsy. "Annual Gross Merchandise Sales (Gms) of Etsy Inc. from 2005 to 2023 (in Million U.S. Dollars)." Statista, Statista Inc., 22 Feb 2024, https://www.statista.com/statistics/219412/etsys-total-merchandise-sales-per-year/
Etsy, Annual gross merchandise sales (GMS) of Etsy Inc. from 2005 to 2023 (in million U.S. dollars) Statista, https://www.statista.com/statistics/219412/etsys-total-merchandise-sales-per-year/ (last visited December 22, 2024)
Annual gross merchandise sales (GMS) of Etsy Inc. from 2005 to 2023 (in million U.S. dollars) [Graph], Etsy, February 22, 2024. [Online]. Available: https://www.statista.com/statistics/219412/etsys-total-merchandise-sales-per-year/