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Etsy

The world's largest maker market, bringing the world's most creative people together

Sector: Futurestore
Themes:

Etsy has created given local artisans, and local markets a global reach, bringing together like-minded buyers and sellers as a passionate movement. The business model makes it fair and accessible to the smallest trader.

Etsy has brought the world of local artisans and handmade crafts, vintage collectors and bored websurfers to the wider online world. Everything you might find in a local market, independent stores or Turkish Bazaar, is now accessible on Etsy.  Handmade jewellery is the top seller, followed by wedding goods and oil paintings were not far behind. Whilst most goods initially came from North America (in particular from Oregon and Utah, sold to consumers in Alaska and Massachucetts), Chinese and Indian goods are rising fastest.

Etsy is the marketplace we make together. 

Our mission is to reimagine commerce in ways that build a more fulfilling and lasting world.

We are a mindful, transparent, and humane business.

We plan and build for the long term.

We value craftsmanship in all we make.

We believe fun should be part of everything we do.

We keep it real, always.

Etsy was founded in 2005 by Rob Kalin – a keen painter, carpenter, and photographer – finding no viable marketplace to exhibit and sell his creations online, and other sites like eBay fill of overstocked electronics and fake goods.  The business charges $0.20 per listing and takes a 3.5% cut of the sales price. In 2012 membership doubled to 22 million, with 14 million people making 1000 million purchase, resulting in revenues of close to $1 billion for the online marketplace.

Etsy Labs are an educational and physical showcase for small artist communities in Brooklyn and Berlin. They include free events and workshops that focus on teaching people how to make things. From screenprinting and knitting, to photography and bike repair. In an online world, they help to build creative communities physically too, and also have pop-up labs in major cities.

The business model is built around a community of participants, brought together by a love of great products rather than cheap prices. Blogs and forums, apps for every platform, links to Facebook and Twitter, keep the market active 24×7. Reputations are crucial to bother sellers and buyers, with both able to rate and review the other. The Etsy brand defines a marketplace, a community that is local and global, a movement of people with shared values, and as Kalin himself says, “about we more than me”

Members love Esty so much that they themselves created a niche social media site to support their community. etsylove.ning.com has over 11.400 members who love the brand, and being connected to each, driving more purchases, more livelihoods and more art.

Case Study: Breaking the mould. How Etsy and online craft marketplaces are changing the nature of business

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