Etsy - statistics & facts
Founded in June 2005, Etsy is an online marketplace founded in Brooklyn, New York, during a burgeoning time for internet startups and new design trends surrounding artisanal and vintage objects. As an online marketplace that works as an intermediary between customers and artists, crafters of handmade items, or collectors of vintage products, Etsy’s company mission aims to “keep commerce human” by striving to help spread impactful, sustainable, and responsible ideas.
In 2023, the number of Etsy’s active sellers surpassed nine million, a notable increase compared to the previous year and a new all-time high for the company. These sellers attract over 96 million active buyers globally. The massive community of Etsy Inc.’s users includes buyers and sellers using etsy.com and reverb.com – the secondhand marketplace for musical instruments acquired by Etsy Inc. in 2019 – as well as those active on Depop and Elo7.
From generating its highest ever annual revenue to gaining its largest user base since foundation, 2023 served as an upstanding year for the company, whose growth has only continued on a steadfast course into the next financial year.
The marketplace for artists
Products bought and sold through Etsy range from art, clothing, jewelry, and other decorative objects to arts and crafts supplies. Filling a market gap for those looking for handmade and craft-related goods online, the platform quickly registered success, reaching up to a million U.S. dollars in sales within a couple of years after its founding. The annual gross merchandise sales (GMS) volume experienced a steady increase, rising from less than 200,000 U.S. dollars in 2005 to almost five billion in 2019. Yet it was in 2020, the first year of the pandemic, that the company's finances really took off. While the platform's GMS has seen a slight decrease from 2021 to 2023, Etsy Inc.’s annual revenue continues to reach new heights.In 2023, the number of Etsy’s active sellers surpassed nine million, a notable increase compared to the previous year and a new all-time high for the company. These sellers attract over 96 million active buyers globally. The massive community of Etsy Inc.’s users includes buyers and sellers using etsy.com and reverb.com – the secondhand marketplace for musical instruments acquired by Etsy Inc. in 2019 – as well as those active on Depop and Elo7.
From Brooklyn to the world
As of December 2023, Etsy was among the most popular online marketplaces in the United States, alongside other popular marketplaces like Amazon and eBay. Etsy has also been able to implement a strong mobile strategy and grow its app business. Since 2017, more than half of the company’s GMS was generated from the use of mobile devices. And while the Etsy app also ranks among the leading shopping apps in its home market with nearly over 11 million downloads in 2023, it was also amongst the most visited online marketplaces worldwide that same year.From generating its highest ever annual revenue to gaining its largest user base since foundation, 2023 served as an upstanding year for the company, whose growth has only continued on a steadfast course into the next financial year.
