Etsy e-Commerce Service

An Etsy e-Commerce Service is an e-Commerce service focused on handmade or vintage items and craft supplies.

• Context:
  • It can (typically) have an Etsy Search Service.
  • …
• Example(s):
  • Etsy Service, 2020.
  • Etsy Service, 2018, with over 60M items for sale.
  • Etsy Service, 2015, e.g. on its IPO day of 2015-04-16.
  • Etsy Service, 2010.
  • …
  • Etsy Service, 2005.
  • …
• Counter-Example(s):
  • Shopify.
  • Big Cartel.
  • Zibbet.
  • Handmade at Amazon.
• See: e-Commerce, Handicraft, Vintage Design, Craft, Jewelry, Home Décor.

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References

2021

• (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/Etsy Retrieved:2021-1-5.
  • Etsy is an American e-commerce website focused on handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. All vintage items must be at least 20 years old. The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item. As of December 31, 2018, Etsy had over 60 million items in its marketplace, and the online marketplace for handmade and vintage goods connected 2.1 million sellers with 39.4 million buyers. At the end of 2018, Etsy had 874 employees. In 2018, Etsy had total sales, or Gross Merchandise Sales (GMS), of US$3.93 billion on the platform. In 2018, Etsy garnered a revenue of US$603.7 million and registered a net income of US$41.25 million. The platform generates revenue primarily from three streams: its Marketplace revenue includes a fee of 5% of final sale value, which an Etsy seller pays for each completed transaction, on top of a listing fee of 20 cents per item; Seller Services, Etsy's fastest growing revenue stream, includes fees for services such as "Promoted Listings", payment processing, and purchases of shipping labels through the platform; while Other revenue includes fees received from third-party payment processors. In November 2016, Etsy disclosed that it paid US$32.5 million to purchase Blackbird Technologies, a startup that developed AI software used for shopping context search applications.

2021

• (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/List_of_Amazon_products_and_services#Retail_goods Retrieved:2021-1-5.
  • … In October 2015, Amazon announced a new handmade marketplace called Handmade By Amazon, already having 5,000 sellers from 60 countries and 80,000 items for sale. The platform is designed for artisans to sell their good directly to the public, similar to the platform Etsy.

2020

• Lucia Yu. (2020). “Bringing Personalized Search to Etsy." Etsy's Code As Craft Blog, 2020-10-29.
  • QUOTE: The Etsy marketplace brings together shoppers and independent sellers from all over the world. Our unconventional inventory presents unique challenges for product search, given that many of our listings fall outside of standard e-commerce categories. With more than 80 million listings and 3.7 million sellers, Etsy relies on machine learning to help users browse creative, handmade goods in their search results. But what if we could make the search experience even better with results tailored to each user? Enter personalized search results. …

2014

• (Hu et al., 2014) ⇒ Diane J. Hu, Rob Hall, and Josh Attenberg. (2014). “Style in the Long Tail: Discovering Unique Interests with Latent Variable Models in Large Scale Social E-commerce.” In: Proceedings of the 20th ACM SIGKDD International Conference on Knowledge Discovery and Data Mining (KDD-2014) Journal. ISBN:978-1-4503-2956-9 doi:10.1145/2623330.2623338
  • QUOTE: ... The challenge of capturing shoppers' styles becomes more difficult as the size and diversity of the marketplace increases. At Etsy, an online marketplace for handmade and vintage goods with over 30 million diverse listings, the problem of capturing taste is particularly important - - users come to the site specifically to find items that match their eclectic styles. …

2012

• (McKinley, 2012) ⇒ Dan McKinley. (2012). “Design for Continuous Experimentation." Talk and Slides. {Online} Dec 22, 2012. http://mcfunley.com/design-for-continuous-experimentation.
  • QUOTE: ... Using several real-world case studies on proposed changes to Etsy’s website, Dan demonstrates why using appropriate metrics to evaluate any product idea is crucial in the early stages — before you spend too much time and money on something that may not pan out.
    • Determine the type of data you need for analyzing specific product questions
    • Prioritize product ideas based on several metrics — do the numbers add up?
    • Examine case studies on two product ideas: one discarded and one pursued
    • Understand the benefit of A/B testing for evaluating product prototypes
    • Explore the novelty effect: products that only achieve short-term effects
    • Look at three methods for attempting large strategic moves, based on case studies
    • Learn how to win the trust of your community when introducing product changes

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