Etsy is an e-commerce platform focused on small businesses and artisans which sell handmade or vintage items. It started life in Brooklyn, New York and quickly expanded throughout the US and into Europe.
In a competitive US e-commerce market with Amazon and eBay, Etsy separated itself with the uniqueness of items sold and the focus on quality. Etsy’s editorial team in the early days also focused on highlighting artistic work, rather than commercially-made items.
That has led to Etsy’s booming creator economy, with millions of sellers who use Etsy as a side-gig to sell handmade homeware or jewelry items. In some cases, the income from Etsy has allowed these sellers to go full-time.
Etsy has increased revenue and usage every year since its IPO in 2010, but the coronavirus pandemic supercharged its growth, more than doubling its revenues. Etsy also doubled active buyers in that time period.
In 2019, Etsy acquired music equipment marketplace Reverb for $275 million. In 2021, it acquired clothing reseller Depop for $1.63 billion, its largest acquisition to date, which mirrors Etsy in some respects with its vintage community.
Etsy has made it clear it wants to have a hub of apps that cater towards niche, and higher-value in some cases, e-commerce markets. The changed landscape of tech market has stalled that expansion, with Etsy focused on improving profitability in 2023 and 2024.
We have collected data and statistics on Etsy. Read on below to find out more. Need more insights? Check out our retail app report.
Etsy Key Statistics
- Etsy generated a revenue of $2.74 billion in 2023, a 7% increase year-over-year
- Net income for Etsy in 2023 was $307 million, reversing the prior year’s loss
- Its gross merchandise volume dropped slightly to $13.1 billion
- Over 96 million people are active buyers on Etsy, it has 8.3 million sellers
Retail App Report 2024
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Etsy Overview
| Title | Title 2 |
|---|---|
| Launch date | June 2005 |
| HQ | New York City, US |
| People | Josh Silverman (CEO), Rachel Glaser (CFO), Mike Fisher (CTO) |
| Business type | Public (NASDAQ: ETSY) |
| Industry | E-commerce |
Etsy Revenue
Etsy made $2.74 billion revenue in 2023, a 7% increase on the previous year.
Etsy revenue 2014 to 2024 ($mm)
Etsy revenue 2012 to 2023 ($bn)
| Year | Revenue ($bn) |
|---|---|
| 2012 | 0.07 |
| 2013 | 0.12 |
| 2014 | 0.19 |
| 2015 | 0.27 |
| 2016 | 0.36 |
| 2017 | 0.44 |
| 2018 | 0.6 |
| 2019 | 0.81 |
| 2020 | 1.72 |
| 2021 | 2.32 |
| 2022 | 2.56 |
| 2023 | 2.74 |
Sources: Retail App Report, Company data
Etsy Profit
Etsy reported an annual net income of $307 million. The company has been working to improve profitability over the past 12 months.
Etsy net income/loss 2012 to 2023 ($mm)
| Year | Net income/loss ($mm) |
|---|---|
| 2012 | -3 |
| 2013 | -1 |
| 2014 | -15 |
| 2015 | -54 |
| 2016 | -30 |
| 2017 | 82 |
| 2018 | 77 |
| 2019 | 96 |
| 2020 | 349 |
| 2021 | 493 |
| 2022 | -694 |
| 2023 | 307 |
Sources: Retail App Report, Company data
Etsy GMS
Etsy managed $13.1 billion in gross merchandize sales in 2023, the second year of decline.
Etsy gross merchandize sales 2012 to 2023 ($bn)
| Year | Gross Merchandize Sales ($bn) |
|---|---|
| 2012 | 0.89 |
| 2013 | 1.35 |
| 2014 | 1.93 |
| 2015 | 2.39 |
| 2016 | 2.84 |
| 2017 | 3.25 |
| 2018 | 3.93 |
| 2019 | 4.97 |
| 2020 | 10.3 |
| 2021 | 13.4 |
| 2022 | 13.3 |
| 2023 | 13.1 |
Source: Company data
Etsy Users
Etsy had 96.2 million buyers in 2023, an increase of over two million on the previous year. Note that Reverb and Depop buyers are included in this statistic.
Etsy users 2014 to 2024 (mm)
Etsy users 2012 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2012 | 9.3 |
| 2013 | 14 |
| 2014 | 19.8 |
| 2015 | 24 |
| 2016 | 28.5 |
| 2017 | 33.3 |
| 2018 | 39.4 |
| 2019 | 46.3 |
| 2020 | 81.8 |
| 2021 | 96.3 |
| 2022 | 93.9 |
| 2023 | 96.2 |
Note: Annual totals are from Q2 of respective year. Source: Company data
Etsy Sellers
Etsy had 8.3 million active sellers on its platform in 2023, an improvement on 2022 figures.
Etsy sellers 2012 to 2023 (mm)
| Year | Sellers (mm) |
|---|---|
| 2012 | 0.8 |
| 2013 | 1 |
| 2014 | 1.3 |
| 2015 | 1.5 |
| 2016 | 1.7 |
| 2017 | 1.9 |
| 2018 | 2.1 |
| 2019 | 2.6 |
| 2020 | 4.3 |
| 2021 | 7.5 |
| 2022 | 7.3 |
| 2023 | 8.3 |
Source: Company data
Ecommerce App Revenue
The ecommerce market in the United States generated $550 billion revenue in 2023.
Ecommerce app revenue in US 2016 to 2023 ($bn)
Want to learn more? Check out our Retail App Report
Etsy FAQ
How many customers are repeat buyers on Etsy?
40% of Etsy buyers are repeat customers, 8.9% are what Etsy call “habitual buyers”
What is the most popular category on Etsy?
Homeware & Home Furnishings is the most popular category on Etsy, followed by Jewelry & Personal Accessories and Craft Supplies
How much did Etsy pay for Depop?
Etsy paid $1.5 billion (£1.1 billion) for vintage clothing reseller Depop
What is the gross merchandise sale of each active buyer?
In Q3 2021, the GMS for active buyer on Etsy was $132, a 20% year-on-year increase
How many times has the Etsy app been downloaded?
We estimate the Etsy app has been downloaded 88.9 million times (Appfigures)
What are Etsy’s seller gender demographics?
81% of Etsy sellers are women, according to the company’s 2020 seller census
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