“We allow small sellers to be able to compete head-to-head with the big guys,” says Etsy CEO Josh Silverman. “We do that by giving them a super simple and easy way to build a business online and market themselves while we do all the business work for them. They can just focus on making great products and serving their customers. We really are (trying to equalize and level the playing field for small sellers). Most importantly, we bring them customers and we bring them buyers. We’re not just a way to put a shop on the web. We’re a way to actually have people come and buy. That’s really powerful.”
Josh Silverman, CEO of Etsy, discusses how they are focused on driving customers and buyers to their base of 2.3 million sellers on the Etsy platform, in an interview with Jim Cramer of CNBC:
We Enable Small Sellers To Compete With the Big Guys
Free shipping is now an expectation in the market. Too often buyers on Etsy have said that they think shipping prices are too high. What we announced in the second quarter is that we’re going to make free shipping the standard that people expect when they come to Etsy. So we announced a number of initiatives to make that easy for sellers to adopt. Obviously, to help sellers, the most important thing is that we can do is drive traffic to Etsy. But our sellers are hungry to invest in their own success. So we also announced just the other day the launch of Etsy Ads, which is a new platform that allows our sellers to invest to grow and buy traffic off of Etsy and bring it on to their Etsy shop.
We allow small sellers to be able to compete head-to-head with the big guys. We do that by giving them a super simple and easy way to build a business online and market themselves while we do all the business work for them. They can just focus on making great products and serving their customers. We really are (trying to equalize and level the playing field for small sellers). We give them that kind of data. We also make it really easy for them to understand by giving them tools that make it super easy for them to understand. Most importantly, we bring them customers and we bring them buyers. We’re not just a way to put a shop on the web. We’re a way to actually have people come and buy. That’s really powerful.
To get a two-sided marketplace where you’ve got 43 million buyers and 2.3 million sellers at scale, that’s incredibly hard to do and incredibly hard to replicate. Once you’ve got it it’s durable. Just look at our growth rate. We’re incredibly excited about our opportunity here.