Online crafts supply retailer Etsy has announced a series of exciting introductions to build on its reputation, as well as achieve the status, of the “world’s best destination for creative goods.” These new services are reflective of the company’s ambitious efforts to support creative entrepreneurs.
Chief operating officer Linda Findley Kozlowski spoke about how the online retailer has grown over the years. Sellers have been able to push their businesses forward through new sales and marketing channels introduced by Etsy. “As they grow, we go,” she said.
She added as many as 90 percent customers come to Etsy to buy supplies they are not able to find elsewhere. The online retailer houses almost 45 million items. “We’ve invested in mobile, search, and payments to make sure that buyers have a great experience each time they visit our markets,” Kozlowski said.
While Etsy has provided a fantastic platform for sellers, establishing one’s own business involves scores of tasks that can make the process intimidating. To overcome this hurdle, Etsy has launched Shop Manager, a “centralised hub” that will enable customers to manage all relevant aspects of their business in one place.
Moreover, it also offers sellers a range of services they can use for their benefits. From being able to track orders, manage inventory, view metric and relevant statistics, and have interactions with their customers, Shop Manager promises to bring together the tools sellers depend on in one place. “Our new Shop Manager is a centralised hub for creative entrepreneurs to run their businesses, bringing the tools they depend on and all of their Etsy sales channels into one place,” Kozlowski said.
Etsy constantly strives to improve shopping experience. Its eventual goal is to achieve the mark of the “world’s best destination for creative goods.” The online retailer is currently working on numerous functions that will greatly help buyers get exactly what they’re looking for. Through creating facilities like search enhancements and investing in brand marketing efforts, Etsy endeavours to support the ambitions of creative entrepreneurs. “We want to be the go-to resource for creative entrepreneurs around the world,” Kozlowski said.
With new introductions like the Etsy Studio, there is much excitement and anticipation among craft supply sellers. The company has already received tremendous feedback. Kozlowski highlights sellers see Etsy Studio as a medium to “open up a world of inspiration for modern makers everywhere.”
Etsy Studio will allow creative entrepreneurs to not only research on a project, but also get the required supplies and materials. The store will have as many as 8 million items from sellers across the globe. “Etsy Studio will give our lifeblood, Etsy sellers, exposure to a larger group of buyers,” Kozlowski said. With more buyers and sellers using the platform, the company hopes to further improve their services.
“Etsy’s mission is to re-imagine commerce in ways that build a more fulfilling and lasting world,” Kozlowski said. With an aim to help people convert their “passions into thriving businesses,” it is an ideal place where sellers can find local and global markets for their work and buyers can find unique goods.
Kozlowski said Etsy is so much more than just its flagship store (Etsy.com). Founded in 2005 in Brooklyn, New York City, the company has 1.7 million active sellers and 27.1 million active buyers, according to statistics as of Sept. 30, 2016. In 2015, the company earned US$2.39 billion (AU$3.10 billion) in gross merchandise sales and US$273 million (AU$354 million) in revenue.
“Etsy is leveraging technology to bring people together through commerce. There’s a human element that you don’t find anywhere else in ecommerce -- it feels like you are buying from your neighbour even if the seller is located halfway around the world,” Kozlowski said. “These personal connections foster a vibrant community and a high level of customer loyalty, which have helped us continue to grow over the past 12 years.”