Name: Detailed SWOT Analysis Of Etsy- With Infographics | IIDE
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<div class="raw-html-embed"><div data-bglz="1" class="et_pb_text_inner"><h2><span style="font-weight: 400;">About Etsy</span></h2><p><span style="font-weight: 400;">Founded in 2005, Etsy is an American </span><a href="https://www.crunchbase.com/organization/etsy" rel="nofollow noopener noreferrer" target="_blank"><span style="font-weight: 400;">internet marketplace</span></a><span style="font-weight: 400;"> that specializes in handcrafted or vintage items as well as craft supplies. A variety of products can be found here, including jewelry, bags, clothing, home décor and furniture, toys, art, and craft supplies. It is modeled after the traditional open craft fairs where sellers have their storefronts where they list their wares for a fee.</span></p><p><img decoding="async" class="wp-image-246530 alignnone size-full" src="https://iide-media.blr1.cdn.digitaloceanspaces.com/production/upload-1736879574079-4a1d900e096e1c4c3cbfa348f8bcf2dd.webp" alt="Etsy Store- SWOT Analysis of Etsy | IIDE" width="273" height="185" data-srcset="https://iide.co/wp-content/w3-webp/uploads/2021/11/image1-28.pngw3.webp 273w, https://iide.co/wp-content/uploads/2021/11/image1-28-150x102.png 150w" sizes="(max-width: 273px) 100vw, 273px"></p><p><span style="font-weight: 400;">In 2005, Robert Kalin, Chris Maguire and Haim Schoppik founded Etsy. They developed the first version of the website in less than two months and launched it that same year.</span></p><p><span style="font-weight: 400;">In Kalin’s view, he was seeking a unique brand that was built from the ground up. Etsy is translated as “what if” in French and Latin.” Kalin said he chose the name because he “wanted a nonsense word.” By doing this, potential customers would not have formed associations with the name, which would strengthen the brand.</span></p><table class="dcf-table dcf-table-responsive dcf-table-bordered dcf-table-striped dcf-w-100%"><caption>Quick Stats about Etsy</caption><tbody><tr><th scope="row">Founder</th><td data-label="Founder">Robert Kalin with his friends Chris Maguire, Haim Schoppik, and Jared Tarbell.</td></tr><tr><th scope="row">Year Founded</th><td data-label="Year Founded">2005</td></tr><tr><th scope="row">Origin</th><td data-label="Origin">Brooklyn, New York, U.S.</td></tr><tr><th scope="row">No. of Employees</th><td data-label="No. of Employees ">1400</td></tr><tr><th scope="row">Company Type</th><td data-label="Company Type">Public</td></tr><tr><th scope="row">Market Cap</th><td data-label="Market Cap">$30.53 Billion (2021)</td></tr><tr><th scope="row">Annual Revenue</th><td data-label="Annual Revenue">$1.725 Billion (2020)</td></tr><tr><th scope="row">Net Income/ Profit</th><td data-label="Net Income/ Profit">$0.098 Billion (2020)</td></tr></tbody></table><h3><span style="font-weight: 400;">Products at Etsy:</span></h3><p><span style="font-weight: 400;">Etsy has been in this industry for more than a century and it</span><span style="font-weight: 400;"> has about 100 million items for sale for consumers to choose from. Some of them are :</span></p><ul><li aria-level="1"><span style="font-weight: 400;">Art and Collectibles</span></li></ul><ul><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">&nbsp;Craft Supplies</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">&nbsp;Digital Artwork and Printable Items</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">&nbsp;Home Goods</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">&nbsp;Vintage Items&nbsp;</span></li></ul><h3><span style="font-weight: 400;">Close Competitors of Etsy:</span></h3><p><span style="font-weight: 400;">The top 5 competitors of Etsy are:</span></p><ul><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">1stdibs</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Zalando</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Amazon,</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Flipkart&nbsp;</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">eBay</span></li></ul><p><span style="font-weight: 400;">Now that we understand the company’s core business, let’s delve into the SWOT Analysis of Etsy.</span></p><h2><span style="font-weight: 400;">SWOT Analysis of Etsy</span></h2><p><img decoding="async" class="alignnone wp-image-248618 size-full" src="https://iide-media.blr1.cdn.digitaloceanspaces.com/production/upload-1736879574778-031ee9ac5996bc596acab96bed98d1a5.webp" alt="Infographic- SWOT Analysis of Esty | IIDE" width="750" height="500" data-srcset="https://iide.co/wp-content/w3-webp/uploads/2021/11/Swot-Template-25.jpgw3.webp 750w, https://iide.co/wp-content/uploads/2021/11/Swot-Template-25-480x320.jpg 480w" sizes="(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 750px, 100vw"></p><p><span style="font-weight: 400;">SWOT analysis is a strategic planning framework that a firm can use to get a detailed analysis of the company’s situation</span><span style="font-weight: 400;">. </span><span style="font-weight: 400;">Using a SWOT framework can help Etsy realize its strengths, weaknesses, opportunities, and threats associated with its strategies.</span></p><p><span style="font-weight: 400;">Only through regular SWOT analysis and improving itself, Etsy Inc. maintains its dominance in its business sector. An Etsy SWOT analysis will prove to be very useful for other companies too.</span></p><h3><span style="font-weight: 400;">1. Strengths of Etsy</span></h3><p><span style="font-weight: 400;">Etsy Inc. has many strengths that will make it a leading player in its market.</span></p><ul><li style="font-weight: 400;" aria-level="1"><b>A High Level of Consumer Satisfaction: </b><span style="font-weight: 400;">A good reputation of Etsy lies in its ability to deliver the most unique products to its customers because they are a worldwide company, they can serve many different types of products. Both customers and dealers receive a </span><a href="https://www.fool.com/investing/2021/11/16/incredible-numbers-from-etsy-q3-earnings-report/" rel="nofollow noopener noreferrer" target="_blank"><span style="font-weight: 400;">unique and pleasant experience</span></a><span style="font-weight: 400;"> when they deal with them. As well, customers can leave a review, making them feel important. Overall, this leads to a very satisfied customer base.</span></li></ul><p><img decoding="async" class="wp-image-246529 alignnone size-medium" src="https://iide-media.blr1.cdn.digitaloceanspaces.com/production/upload-1736879575512-7b0de25742d32887ba3068794a2a7b46.webp" alt="Etsy Products - SWOT Analysis of Etsy | IIDE" width="300" height="114"></p><ul><li style="font-weight: 400;" aria-level="1"><b>Strong Cash Flow:</b><span style="font-weight: 400;"> Etsy’s free cash flow has been steady for years due to the large number of vintage and artsy items people purchase from them. As a result, the organization can keep profits and expenditures under control.</span></li><li style="font-weight: 400;" aria-level="1"><b>The Dealer Community is Strong:</b><span style="font-weight: 400;"> Etsy’s dealers have a strong working relationship with the company. They have built a relationship that is based on trust, loyalty, and excellent service. As a result, a mutually beneficial relationship can be built.&nbsp; This creates a strong dealer base.</span></li><li style="font-weight: 400;" aria-level="1"><b>Reliable Suppliers: </b><span style="font-weight: 400;">This website is filled with reliable suppliers. Etsy prides itself on giving the safest and secure economic experience. It is run by professionals who are trained and qualified. As part of the promotion and sale of their products, suppliers have to pay a 0.20$ entry fee. By doing this, the company becomes more credible and people begin to trust them.</span></li></ul><h3><span style="font-weight: 400;">2. Weaknesses of Etsy</span></h3><p><span style="font-weight: 400;">An organization’s internal factors include its weaknesses. Several of these weaknesses can be identified through SWOT analysis.</span></p><ul><li style="font-weight: 400;" aria-level="1"><b>Discrete Structure:</b><span style="font-weight: 400;"> Etsy’s organizational structure is quite rigid. It is therefore always difficult to adjust to a new company’s culture whenever they merge with another company. In turn, the loss of several valuable working hours makes the company’s operations less effective.</span></li><li style="font-weight: 400;" aria-level="1"><b>Higher Funds for the Technology Sector:</b><span style="font-weight: 400;"> All though Etsy spent enough money to develop its technological sites. The company is still quite behind on this matter, as many of its competitors are ahead of it. It puts a damper on the team’s morale, which is quite an inconvenience for the team.</span></li><li style="font-weight: 400;" aria-level="1"><b>Research and Development:</b><span style="font-weight: 400;"> Etsy Inc. spends more than that is average in this industry on research and development. Even so, it is not enough. It still spends less than many of its competitors. Because of this, it is losing ground in the competition.</span></li></ul><h3><span style="font-weight: 400;">3. Opportunities for Etsy</span></h3><p><span style="font-weight: 400;">The opportunities in a business are external factors that can be tapped for profit and benefits.&nbsp;</span></p><ul><li style="font-weight: 400;" aria-level="1"><b>Low inflation rates:</b><span style="font-weight: 400;"> Inflation has been very low this year, and experts predict that it will remain that way for some time. It represents an excellent opportunity for the company to earn a significant profit. It will also ensure that the cost of inputs is low during that period.</span></li><li style="font-weight: 400;" aria-level="1"><b>New markets:</b><span style="font-weight: 400;"> As the government has agreed to lend a hand to economic development new markets are emerging. There are already 2.1 million sellers and 39.4 million buyers connected on Etsy. With the new markets, these numbers could rise even higher.</span></li><li style="font-weight: 400;" aria-level="1"><b>Due to globalization:</b><span style="font-weight: 400;"> As globalization increases, Etsy will not be restricted within its traditional bounds. This could turn into a full-blown opportunity to show the world exactly what Etsy is capable of.&nbsp;</span></li></ul><h3><span style="font-weight: 400;">4. Threats for Etsy</span></h3><p><span style="font-weight: 400;">As part of a swot analysis, threats are most important. An Etsy Inc. SWOT analysis will reveal the threats that have been holding the community back.</span></p><ul><li style="font-weight: 400;" aria-level="1"><b>Unique Products are not always Available:</b><span style="font-weight: 400;"> It is well known that Etsy is known for offering the most eccentric and valuable products. In addition, these products are both rare and beautiful. It is therefore extremely difficult to find another copy of the product even after strong public demand. In the case of vintage collections, it is especially problematic since they are extremely difficult to find.</span></li><li style="font-weight: 400;" aria-level="1"><b>Inconsistent Exchange Rate:</b><span style="font-weight: 400;"> Exchange rates are subject to volatility. Due to Etsy’s international sales regulations, these fluctuations significantly impact them. In just a heartbeat, this can lead to heavy profits or losses for the company.</span></li><li><b>Competitive Environment:</b><span style="font-weight: 400;"> Several new companies have mushroomed in recent years. This increases the competition. Etsy’s revenue will suffer if competitors get ahead of this race.</span></li></ul></div></div>

<div class="raw-html-embed"><div data-bglz="1" class="et_pb_text_inner"><h2><span style="font-weight: 400;">Conclusion&nbsp;</span></h2><p><span style="font-weight: 400;">Etsy can be said to be strong due to steady growth in profits and global reach. As for its greatest weakness, that would be a stiff structure of an organization. Although it doesn’t look like much, it is a huge burden to carry.&nbsp;</span></p><p><span style="font-weight: 400;">The E-commerce market is becoming increasingly competitive, which leaves companies to compete for customers by improving marketing efforts. With an evolving landscape where digital marketing is of utmost importance, being well versed in the realm is a requirement for every marketing enthusiast. If you also want to learn digital marketing, do check out </span><a href="https://iide.co/online-digital-marketing-course/?swcfpc=1"><span style="font-weight: 400;">top-notch courses</span></a><span style="font-weight: 400;"> provided by IIDE.</span></p><p><span style="font-weight: 400;">If you are interested in such detailed analyses of companies, try our</span><a href="https://iide.co/"><span style="font-weight: 400;"> IIDE Knowledge portal</span></a><span style="font-weight: 400;"> for more. Thank you for reading the blog, share your thoughts in the comments.</span></p></div></div>

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Searching for SWOT Analysis of Etsy? In this blog we have covered the strengths, weaknesses, opportunities and threats with infographics.

Detailed SWOT Analysis Of Etsy- With Infographics | IIDE

<div class="raw-html-embed"><div class="et_pb_text_inner"><p><span style="font-weight: 400;">Last time, we evaluated the </span><a href="https://iide.co/case-studies/swot-analysis-of-amazon/?swcfpc=1"><span style="font-weight: 400;">SWOT analysis of Amazon</span></a><span style="font-weight: 400;">. This time, we will examine the SWOT Analysis of Etsy in more detail.</span></p><p><span style="font-weight: 400;">Etsy is a leading online marketplace of unique and creative goods, founded in 2005 in New York. They have seen more than a century of technological progress, and they think the future looks just as exciting. </span><span style="font-weight: 400;">Why? Because their products have always satisfied a need in people’s lives, they will never stop making them.</span></p><p><span style="font-weight: 400;">Etsy has also competed successfully in its marketing efforts in the past few years. With the growing popularity of online shopping, marketing is undergoing constant changes. If you would like to learn more about the most up-to-date marketing techniques, consider joining our </span><a href="https://masterclass.iide.co/video/digital-marketing-fundamentals?swcfpc=1"><span style="font-weight: 400;">Free Masterclass on Digital Marketing Basics</span></a><span style="font-weight: 400;"> by the CEO and Founder of IIDE, Karan Shah.</span></p><p><span style="font-weight: 400;">In this blog, we’ll learn about the detailed SWOT Analysis of Etsy and decode its success but before that let’s know more about the company.</span></p></div></div>

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