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'''Etsy''' is an [[e-commerce]] [[website]] focused on handmade or [[Used good|vintage]] items as well as art and craft supplies. In 2013 Etsy began using their customer's names and purchasing information without their consent in order to create search results that link to the Etsy website, thus using their customer's names for free advertising. Etsy is the first customer-to-customer online market that has used their customer's data in this manner. These items cover a wide range including art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks, and toys. Many individuals also sell craft supplies such as beads, wire and jewelry-making tools. All vintage items must be at least 20 years old.<ref>{{cite web |url= http://www.etsy.com/help/article/483#vintage |title= Etsy Help: DOs and DON'Ts |author= Etsy |date= June 7, 2012 |work= |publisher= Etsy |accessdate=16 June 2012}}</ref> The site follows in the tradition of open [[craft fair]]s, giving sellers personal storefronts where they list their goods for a fee of $0.20 per item.<ref name='NYT-Walker-2007-12-16'>{{cite news | first= Rob | last= Walker | authorlink= Rob Walker (journalist) | title= Handmade 2.0 | date= 2007-12-16 | publisher= New York Times | url = http://www.nytimes.com/2007/12/16/magazine/16Crafts-t.html?_r=2&oref=slogin&ref=magazine&pagewanted=all | work = New York Times Magazine | pages = | accessdate = 2007-12-17 }}</ref>
'''Etsy''' is an [[e-commerce]] [[website]] focused on handmade or [[Used good|vintage]] items as well as art and craft supplies. These items cover a wide range including art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks, and toys. Many individuals also sell craft supplies such as beads, wire and jewelry-making tools. All vintage items must be at least 20 years old.<ref>{{cite web |url= http://www.etsy.com/help/article/483#vintage |title= Etsy Help: DOs and DON'Ts |author= Etsy |date= June 7, 2012 |work= |publisher= Etsy |accessdate=16 June 2012}}</ref> The site follows in the tradition of open [[craft fair]]s, giving sellers personal storefronts where they list their goods for a fee of $0.20 per item.<ref name='NYT-Walker-2007-12-16'>{{cite news | first= Rob | last= Walker | authorlink= Rob Walker (journalist) | title= Handmade 2.0 | date= 2007-12-16 | publisher= New York Times | url = http://www.nytimes.com/2007/12/16/magazine/16Crafts-t.html?_r=2&oref=slogin&ref=magazine&pagewanted=all | work = New York Times Magazine | pages = | accessdate = 2007-12-17 }}</ref>


== History ==
== History ==

Revision as of 01:54, 19 August 2013

Etsy
Type of site
E-commerce
Created byRobert Kalin, Chris Maguire, Haim Schoppik, Jared Tarbell
URLEtsy.com
Commercialyes
RegistrationRequired to buy or sell

Etsy is an e-commerce website focused on handmade or vintage items as well as art and craft supplies. These items cover a wide range including art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks, and toys. Many individuals also sell craft supplies such as beads, wire and jewelry-making tools. All vintage items must be at least 20 years old.[2] The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of $0.20 per item.[3]

History

Etsy staff at work, July 2010
Art in the Etsy office in Brooklyn.

The site was launched on June 18, 2005 by iospace, a small company composed of Robert Kalin, Chris Maguire and Haim Schoppik. The initial version had taken two and a half months to build.[4] Later Jared Tarbell joined the team. Former NPR executive Maria Thomas joined as COO in 2008, was promoted to CEO and left Etsy in December 2009. Robert Kalin resumed his role as CEO from December 2009 until July 2011.[5] Investors include Sean Meenan, Spencer and Judson Ain, Union Square Ventures, and founders of Flickr and Delicious.[6]

Kalin said that he named the site Etsy because he "wanted a nonsense word because I wanted to build the brand from scratch. I was watching Fellini's 8 ½ and writing down what I was hearing. In Italian, you say 'etsi' a lot. It means 'oh, yes.' And in Latin, it means 'and if.'"[7]

In Etsy's first year, it attracted attention for frequently adding new tools and functionality to the site to help sellers gain exposure and traffic, including Adobe Flash-based visualizations and a taxonomy of categories with tags.[8] Etsy passed $1.7 million in sales in May 2007.[9] On July 29, Etsy had its one-millionth sale and anticipated its two-millionth sale would occur mid-December 2007. In November 2007, buyers spent $4.3 million purchasing 300,000 items for sale on Etsy, an increase of 43 percent from October 2007.[3] In June 2007, it expected to be profitable by the fall,[10] but in December 2007 it was not a profitable company.[11] In January 2008, Etsy received an additional $27 million in funding from Union Square Ventures, Hubert Burda Media, and Jim Breyer.[12]

In February 2008, trouble at eBay, including a strike by some dissatisfied sellers, brought speculation that Etsy could be an increasing competitor.[13] At the same time, however, some Etsy sellers expressed unhappiness with how Etsy was handling complaints about stores.[14] At the time, a comparison of the two websites included complaints that on Etsy, items are difficult to find, the interface "feels slow", and the buying and selling process is United States-centric.[15] Other reviewers enjoyed using Etsy's specialized search options,[16][17] including the "Shop Local" tool.[18]

In July 2008, Rob Kalin ceded the position of CEO to Maria Thomas.[19] Some longtime Etsy employees left the company in August 2008, including founders Haim Schoppik and Chris Maguire.[20] In September 2008, Etsy hired Chad Dickerson, who formerly worked at Yahoo!, as Chief Technology Officer.[21] The company acknowledged concerns about vendors selling other people's work as their own.[22]

In April 2009, users organized an "etsyday" promotion on Twitter that brought extra attention to the site.[23] As of May 2009, it had approximately 60 employees and sales of $10 to 13 million per month,[24] possibly boosted by consumer interest in cheaper and more personalized goods due to the United States recession.[25]

In March 2010, Kalin said that the company is profitable and "plans to go public, though not until at least next year."[26] In December 2010, Etsy said it had seven million registered users and predicted $400 million in transactions for the year, and that it would continue to focus on a personal community feel as it grows larger, as that is part of what distinguishes it from eBay.[27] In 2010, Etsy saw revenues increase from $180 million to $314 million, which fell short of the $400 million prediction.[28]

In March 2011, Etsy "introduced a Facebook-style social networking system called People Search...to help buyers and sellers connect with each other and become friends." By doing so, Etsy made any past purchase with feedback easily searchable, which caused many complaints. Etsy then made changes to the site to better guard information regarding users' purchases.[29]

In April 2012, a newspaper article about Etsy covered its fraud detection efforts;[30] Etsy had been criticized in the past for inconsistently applying its rules about items having to be handmade.[31] Later in April 2012, the writer of Regretsy, a popular blog, did independent research into a specific featured vendor, Ecologica Malibu, and found evidence to accuse the vendor of being a reseller, which would be against the Etsy Terms of Service.[32] The vendor asserted that it was in line with the Terms of Service, stating that the shop had simply failed to identify itself as a "collective" that included the work of several individuals, and many Etsy community members posted on the Etsy forum expressing unhappiness with the action (or lack of action) taken by Etsy.[33] As of June 2012, the vendor's account is no longer active on Etsy.[34]

In May 2012, Etsy raised $40M in Series F funding, and announced the company had become B Corporation certified.[35] This funding is partly going toward expanding Etsy in international markets, including France, Germany, and Australia.[36]

Main Features

Selling

A variety of products are sold on Etsy, including arts supplies, handmade products and vintage pieces. Vintage pieces can only be listed if they are a minimum of 20 years old. In order to sell products on Etsy, users must create a username and have the option to create a shop name. The username cannot be changed once created. Creating a shop on Etsy is free, however each listing that is posted in the shop costs $0.20. Each listing will remain on the shop's page for 4 months, or until someone buys the product. The sale prices of products are determined by the shop owner, but Etsy claims 3.5% of the sale price of each listing. Shop owners are sent a bill at the end of every month containing the fees they owe, and they have until the 15th day of the following month to pay the Etsy bill.[37]

Buying

Searching for products to buy on Etsy is generally intuitive and simple. On the homepage, potential buyers can type a product description into the search bar,[38] or they can "Browse" through a list of options on the left side of the homepage, which include Art, Home & Living, Jewelry, Women, Men, Kids, Vintage, Weddings, Craft Supplies, Trending Items, Gift Ideas, Mobile Accessories, and more.[39] Alternatively, buyers may choose from a list of categories by clicking on the "Categories" link under "More Ways to Shop." This will bring the user to a page of over 30 categories, each containing sub-categories.[40]

When a buyer views a product, he/she can view the positive percentage feedback of each seller to determine the reliability of the shop. Once a buyer finds a product he/she would like to buy, he/she clicks "Add to Cart", and that product is added to his/her virtual "Shopping Cart". The buyer may then continue shopping or purchase the selected item. In order to purchase items, buyers must have an account with Etsy. The account is free and can be integrated with Facebook. The total product and shipping costs are shown to the user prior to entering payment information so the user knows exactly how much is being paid. Sellers choose which payment options to offer buyers; options include credit/debit cards and PayPal, among others.[41]

Operations

Etsy Labs community workspace area.

Etsy is popular as a side-business[42] as well as a place to buy goods made from recycled and upcycled materials,[43] along with less expensive or more unusual versions of mass-produced items.[44] The unique nature of many of the items for sale is part of their appeal to some shoppers.[45][46] Product photos on Etsy tend to be editorial or artistic instead of commercial catalog style.[47] Sellers can add tags to their products to help buyers find them,[48] and buyers can choose to search for items available locally.[49] Etsy staffers publish lists of featured items.[50]

Etsy makes money by charging a listing fee of 20 cents for each item and getting 3.5% of every sale,[51] with the average sale about $15 or $20. Most sellers are women[10] who tend to be college-educated and in their twenties and thirties.[24] Individual Etsy sellers decide which payment options to offer buyers; these options may include credit card, check, money order, PayPal, bank transfer, and Etsy gift card.[52][53]

Etsy sellers range from hobbyists to professional artists who use the site to make a living.[54] According to artists who have developed their Etsy stores into their primary jobs, scaling up production of handmade items can require more than full-time work,[55] especially during the holiday shopping season.[56]

Etsy's main office is located in DUMBO, Brooklyn, and it has hosted open crafting classes in the "Etsy Labs".[57] The site's technology, customer support, marketing/PR, business, and communications teams operate out of this office. Etsy Labs has a workspace that provides equipment and donated materials where members gather to make items, take and teach workshops, and attend special events.[3] Etsy also has an office in Berlin.[58] In April 2012, Etsy announced that it was taking steps to hire more women engineers to improve the gender balance of its team, as a website with majority women users but few women engineers.[59]

Etsy was one of the main members of the Handmade Consortium, a 2007 effort to encourage buying handmade holiday gifts.[11] Etsy has partnered with the retail chain West Elm to sell some Etsy products in its stores.[60][61] In December 2012, Etsy opened a temporary holiday storefront in SoHo, New York City.[56]

Competitors

Etsy has been compared to "a crafty cross between Amazon and eBay,"[9] and to "your grandma's basement."[62] Etsy also has a number of direct competitors. DaWanda, based in Germany, focuses on growing in European countries.[63] ezebee.com, based in Switzerland, is a global competitor, but also caters to freelancers and professionals [64] Bonanza (formerly Bonanzle and 1000 Markets[65]) is based in the US and focuses on clothing and fashion, Zibbet and MadeIt which are based in Australia, iCraft is based in Canada,[66] and Artfire is based in the US.[67] Tindie is based in Portland, Oregon and focuses on technology and electronics.[68]

Asked about competitors, Etsy's European CEO said, "As far as I am concerned, the more people highlighting the value of supporting micro-producers and buying handmade and vintage directly from them, the better."[69]

References

  1. ^ "Etsy.com Site Info". Alexa Internet. Retrieved 2012-08-02.
  2. ^ Etsy (June 7, 2012). "Etsy Help: DOs and DON'Ts". Etsy. Retrieved 16 June 2012.
  3. ^ a b c Walker, Rob (2007-12-16). "Handmade 2.0". New York Times Magazine. New York Times. Retrieved 2007-12-17.
  4. ^ Orland, Kat. "Web 2.0 Awards (2006) - Interview with Robert Kalin of Etsy". SEOmoz. Retrieved 2010-10-06.
  5. ^ "New Roles at Etsy Inc". Storque. Etsy. 2008-07-22. Retrieved 2008-07-28.
  6. ^ Wilson, Fred (2006-06-05). "Etsy". Union Square Ventures. Retrieved 2007-12-19.
  7. ^ Rob Lammle (2011-04-22). "How Etsy, eBay, Reddit got their names". Mental Floss. CNN.
  8. ^ Arrington, Michael (2005-11-08). "Etsy - P2P Commerce with Tagging". Techcrunch. Retrieved 2007-12-19.
  9. ^ a b Ryzik, Melena (2007-06-24). "Where the Crafts Babes and D.I.Y. Dudes Are". New York Times. Retrieved 2007-12-19.
  10. ^ a b Miller, Kerry (2007-06-12). "Etsy: A Site for Artisans Takes Off". BusinessWeek. Retrieved 2007-12-19.
  11. ^ a b Walker, Rob (2007-12-15). "Craft capitalism: Just do it yourself". International Herald Tribune. Retrieved 2007-12-19.
  12. ^ McCarthy, Caroline (2008-01-30). "Crafty commerce site Etsy gets $27 million in funding". The Social. CNET News. Retrieved 2008-02-27.
  13. ^ "Ebay, After Meg". Knowledge@Wharton. 2008-02-19. Retrieved 2008-02-27.
  14. ^ Marco, Meg (2008-02-26). "Sellers Growing Increasingly Unhappy With Lack Of Professionalism At Etsy". Consumerist. Retrieved 2008-02-27.
  15. ^ Schofield, Jack (2008-02-18). "Arts and crafts for the space age". Netbytes. London: Guardian.co.uk. Retrieved 2008-02-27.
  16. ^ Takac, Micki (2009-02-16). "Etsy's Handmade Goods Inspire the Shopper in All of Us". Invention and Technology News. Retrieved 2009-05-12.
  17. ^ Lott, Arlene (2009-02-24). "Do You Etsy?". Steven and Chris. CBC.ca. Retrieved 2009-05-12. [dead link]
  18. ^ Baxevanis, Alexander (2009-02-19). "Etsy brings handmade crafts closer to home". Marketing Week. Retrieved 2009-05-12.
  19. ^ Kalin, Robert (2008-07-09). "The Long View: Rob & Maria". Storque. Etsy. Retrieved 2008-12-08.
  20. ^ Maguire, Chris (2008-08-28). "A Fond Farewell". Storque. Etsy. Retrieved 2008-12-08.
  21. ^ Steiner, Ina (2009-04-05). "Touring Etsy.com's Brooklyn Headquarters". AuctionBytes.com. Retrieved 2009-05-12.
  22. ^ Johnson, Bobbie (2008-10-15). "Etsy: eBay for arts and crafts". London: Guardian.co.uk. Retrieved 2009-05-12.
  23. ^ Fowler, Geoffrey A. (2009-04-24). "How #etsyday Grew on Twitter". Digits. Wall Street Journal. Retrieved 2009-05-12.
  24. ^ a b "Etsy Crafts a Recession Success". eMarketer Digital Intelligence. 2009-05-01. Retrieved 2009-05-12.
  25. ^ Miller, Claire Cain (2008-12-22). "For Craft Sales, the Recession Is a Help". New York Times. Retrieved 2009-05-12.
  26. ^ Evans, Teri (2010-03-30). "Creating Etsy's Handmade Marketplace". Wall Street Journal. Retrieved 2010-03-30.
  27. ^ Wortham, Jenna (2010-12-26). "Online Bazaar Builds on Its Base With Sense of Community". New York Times. Retrieved 2011-01-01.
  28. ^ "Etsy 2011 Sales Revenue Expected to Exceed $400 Million – Sales Grew 74.4% in 2010". Quarterly Retail Review. March 1, 2011.
  29. ^ Grant, Drew. "Etsy's social media DIY-saster". Salon.com. Retrieved 20 March 2011.
  30. ^ Nassauer, Sarah (2012-04-17). "Busted by the Crafts Cops". The Wall Street Journal. Retrieved 2012-04-26.
  31. ^ F., Jeff (2012-01-27). "Etsy Closes Azreal's Accomplice. Cites Policy Infringement". Houston Press. Retrieved 2012-01-27.
  32. ^ Killer, Helen (2012-04-21). "The Etsy Featured Reseller: Ecologica Malibu". Regretsy. Retrieved 2012-04-21.
  33. ^ Morran, Chris (2012-04-23). "Etsy Features Seller Who May Be Blatantly Violating Etsy Policy". The Consumerist. Retrieved 2012-04-26.
  34. ^ Adrianne Jeffries (June 5, 2012). "Controversial Etsy Seller Disappears From Etsy After High-Profile Protest". BetaBeat. Retrieved June 16, 2012.
  35. ^ Roy, Jessica (2012-05-09). "With New B Corp. Certification, Etsy Raises $40M for International Growth". Betabeat. Retrieved 2012-05-09.
  36. ^ Gillian Tan (June 12, 2012). "Etsy Focuses on Growth Down Under". The Wall Street Journal. Retrieved June 14, 2012.
  37. ^ Etsy Website: "Learn How to Sell" http://www.etsy.com/sell
  38. ^ Etsy Website: Home and Living http://www.etsy.com/?ref=si_home
  39. ^ https://www.etsy.com/blog/news/2012/better-ways-to-browse-a-new-look-at-the-marketplace/
  40. ^ Etsy: Categories http://www.etsy.com/categories?ref=fp_nav_colors
  41. ^ Etsy Website: Shopping Cart https://www.etsy.com/cart?ref=si_cart
  42. ^ Haley, Jen (2009-01-15). "Turn your skills or your stuff into extra cash". CNN. Retrieved 2009-05-12.
  43. ^ Choi, April (2009-04-24). "Artists share love of Earth and crafts". Columbia Missourian. Retrieved 2009-05-12.
  44. ^ Arain, Fauzia (2009-05-03). "An Etsy bitsy fashion secret: Spring trends, affordable and online". Tribune Newspapers. Retrieved 2009-05-12.
  45. ^ Thompson, Clive (2009-02-23). "Clive Thompson on the Revolution in Micromanufacturing". Wired Magazine. Retrieved 2009-05-12.
  46. ^ Tutton, Mark (2008-09-19). "A crafty way to beat the chain stores". CNN. Retrieved 2009-05-12.
  47. ^ Silberman, Lindsay (May 11, 2010). "How to Make Money on Etsy". Inc. Retrieved December 16, 2012.
  48. ^ Catone, Josh (June 28, 2007). "Swap Meet 2.0: Selling Handmade Goods Online". ReadWriteWeb. Retrieved December 16, 2012.
  49. ^ Kelsey Ramos (January 1, 2011). "Online crafts marketplace is vast but not impersonal". Los Angeles Times. Retrieved December 9, 2012.
  50. ^ Copeland, Laura (December 4, 2010). "Heavens to Etsy: Online artisan marketplace makes shopping local a cinch". Santa Cruz Sentinel. Retrieved December 16, 2012.
  51. ^ Marion, Fred (2006-08-08). "Etsy may be the coolest, most feel-good way to shop". Cox News Service. Retrieved 2007-12-19.
  52. ^ Etsy. "Etsy Help: How do I select payment methods for my shop?". Etsy. Retrieved November 27, 2012.
  53. ^ Etsy. "Etsy Help: How do I accept credit cards and Etsy Gift Cards in my shop?". Etsy. Retrieved November 27, 2012.
  54. ^ Steiner, Ina (2008-11-02). "Ecommerce Collides with Handmade: An Interview with Etsy". AuctionBytes.com. Retrieved 2009-05-12.
  55. ^ Alex Williams (December 16, 2009). "That Hobby Looks Like a Lot of Work". New York Times. Retrieved June 14, 2012.
  56. ^ a b John Tozzi (December 5, 2012). "No Sleep Till Christmas: Etsy Sellers' Haggard Holidays". Small Business. Businessweek. Retrieved December 16, 2012.
  57. ^ Ina Steiner (April 5, 2009). "Touring Etsy.com's Brooklyn Headquarters". EcommerceBytes. Retrieved December 16, 2012.
  58. ^ Allen, Kristen (April 1, 2012). "Etsy gets made in Berlin". The Local Germany. Retrieved December 16, 2012.
  59. ^ Daniel Nye Griffiths (April 6, 2012). "Etsy To Fund "Hacker School" Grants For Women". Tech. Forbes. Retrieved June 16, 2012.
  60. ^ Blair, Elizabeth (December 13, 2012). "Etsy Crafts A Strategy For Staying Handmade And Profitable". Minnesota Public Radio News. Retrieved December 16, 2012.
  61. ^ Guthrie, Becky (June 3, 2011). "We love Etsy, and so does West Elm — the store will host Etsy sellers June 4". Homes. National Post. Retrieved December 16, 2012.
  62. ^ Slatalla, Michelle (2007-01-18). "Rooting Around Grandma's Basement in Cyberspace". New York Times. Retrieved 2007-12-19.
  63. ^ "DaWanda secures €4 million to go international". TechCrunch. 30 November 2011. Retrieved 16 June 2012.
  64. ^ Till Dziallas (21 Mai 2013). "ezebee vom Ansturm überrannt". Internetworld Business. {{cite web}}: Check date values in: |date= (help)
  65. ^ John Cook (September 21, 2010). "Bonanzle buys 1000 Markets, renames shopping site Bonanza". Puget Sound Business Journal. Retrieved December 9, 2012.
  66. ^ Christopher Null (18 May 2012). "The 5 Best Online Marketplaces for Selling Handmade Goods". Business. PCWorld. Retrieved 16 June 2012.
  67. ^ Jessica Bruder (July 15, 2009). "The Etsy Wars". CNNMoney. Retrieved December 9, 2012.
  68. ^ Laura Grace Weldon (3 July 2012). "tINDIE: Like Etsy For Electronic Tinkerers". GeekMom. WIRED. Retrieved 14 October 2012.
  69. ^ Dana Kikic (13 September 2011). "Five questions for..." Exberliner. Retrieved 16 June 2012.
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