Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 10 pages
Data source: Published sources
Topics:
Etsy; Handmade; Niche products; Growth; Strategy; Josh Silverman; Amazon; Discount; Sellers; Buyers
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https://casecent.re/p/198085
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Abstract
Etsy, the e-Commerce marketplace for niche and handmade products was founded in 2005 and had shown impressive growth since then. Unlike Amazon which sold mass produced products at massive scale, Etsy connected artisans and creative people (sellers) with buyers looking for exclusive one-of-a-kind product. Along its growth journey, Etsy made selling easier for sellers helping them in all aspects of selling and promoting their products. In addition, Etsy invested heavily in own branding, improving the shopping experience for buyers, better search AI, easy payments, and in everything that made its platform attractive for sellers and buyers. The growth chart continued to move upwards till early 2023 when a slight slump was observed. As 2023 progressed, it became abundantly clear that Etsy's growth had stagnated. CEO Josh Silverman attempted mid-course correction and drafted a new future growth map. Remaining focused on niche products and 'Vital few' projects were major components of this roadmap. However, some analysts suggested that Etsy expanded its product offering to include trending products. In view of this, what was the right growth trajectory for Etsy?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2024.Geographical setting
Region:
World/global
Country:
United States
Featured company
Etsy
Employees:
1001-5000
Type:
Public company
Industry:
e-Commerce
About
Abstract
Etsy, the e-Commerce marketplace for niche and handmade products was founded in 2005 and had shown impressive growth since then. Unlike Amazon which sold mass produced products at massive scale, Etsy connected artisans and creative people (sellers) with buyers looking for exclusive one-of-a-kind product. Along its growth journey, Etsy made selling easier for sellers helping them in all aspects of selling and promoting their products. In addition, Etsy invested heavily in own branding, improving the shopping experience for buyers, better search AI, easy payments, and in everything that made its platform attractive for sellers and buyers. The growth chart continued to move upwards till early 2023 when a slight slump was observed. As 2023 progressed, it became abundantly clear that Etsy's growth had stagnated. CEO Josh Silverman attempted mid-course correction and drafted a new future growth map. Remaining focused on niche products and 'Vital few' projects were major components of this roadmap. However, some analysts suggested that Etsy expanded its product offering to include trending products. In view of this, what was the right growth trajectory for Etsy?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2024.Geographical setting
Region:
World/global
Country:
United States
Featured company
Etsy
Employees:
1001-5000
Type:
Public company
Industry:
e-Commerce