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Etsy Inc - Stock Quote ETSY

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Morningstar's Etsy Inc Stock Analysis

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E-Commerce Pressure Dampens Near-Term Prospects, but Etsy's Road Map Looks Durable

Sean Dunlop Equity Analyst

Business Strategy and Outlook

| Sean Dunlop |

Etsy has carved out an interesting competitive niche, jockeying for e-commerce wallet share across a variety of heterogeneous verticals in the long tail of unbranded products. The firm’s four marketplace properties—Etsy, Reverb, Depop, and Elo7—all target non-commoditized inventories (artisanal crafts, used musical instruments, and vintage clothing resale), generate commissions on third-party, peer to peer sales, and strive to create a “treasure hunt” experience around a unique, customizable, and consequently less price elastic product suite.

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Etsy Inc's Company Profile

Business Description

Etsy operates a top-10 e-commerce marketplace operator in the U.S. and the U.K., with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.5 billion in 2021 consolidated gross merchandise volume, the firm has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2021, the firm connected more than 96 million buyers and more than 7.5 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), Elo7 (crafts in Brazil), and Depop (clothing resale).

117 Adams Street
Brooklyn, NY, 11201
T +1 718 880-3660
Sector Consumer Cyclical
Industry Internet Retail
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 2,576

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