Xin Ou
Research expert covering Greater China
Etsy - statistics & facts
Etsy is an online marketplace from Brooklyn, New York, founded in June 2005 during a burgeoning time for internet startups and new design trends surrounding artisanal and vintage objects. As an online marketplace that works as an intermediary between customers and artists, crafters of handmade items, or collectors of vintage products, Etsy’s company mission aims to “keep commerce human” by striving to help spread impactful, sustainable, and responsible ideas.
While the number of Etsy’s active sellers surpassed nine million in 2023, a notable increase compared to the previous year and an all-time high for the company, Etsy’s seller base decreased in 2024 by about one million. In spite of this, these sellers still attract over 95 million active buyers globally. The massive community of Etsy Inc.’s users includes buyers and sellers using etsy.com, reverb.com – the secondhand marketplace for musical instruments acquired by Etsy Inc. in 2019 – as well as those active on Depop and Elo7. However, potentially in light of the company’s decreasing GMS and seller-base, Etsy announced in 2025 that they would be selling Reverb in order to focus on its core marketplace platform of Etsy as well as the popular second-hand fashion marketplace: Depop.
While its highest ever annual revenue was generated in 2024, the company also lost a large number of both sellers and buyers. However, Etsy is still abiding by their company mission, striving to stand out among mass-market competitors like Amazon, Temu, Walmart, and Shein with their offers of handcrafted goods.
The marketplace for artists
Products bought and sold through Etsy range from art, clothing, jewelry, and other decorative objects to arts and crafts supplies. Filling a market gap for those looking for handmade and craft-related goods online, the platform quickly registered success, reaching up to a million U.S. dollars in sales within a couple of years after its founding. The annual gross merchandise sales (GMS) volume experienced a steady increase, rising from less than 200,000 U.S. dollars in 2005 to almost five billion in 2019. Yet it was in 2020, the first year of the COVID-19 pandemic, that the company's finances really took off. In spite of the platform's slight decrease in GMS from 2021 to 2024, Etsy Inc.’s annual revenue continues to reach new heights.While the number of Etsy’s active sellers surpassed nine million in 2023, a notable increase compared to the previous year and an all-time high for the company, Etsy’s seller base decreased in 2024 by about one million. In spite of this, these sellers still attract over 95 million active buyers globally. The massive community of Etsy Inc.’s users includes buyers and sellers using etsy.com, reverb.com – the secondhand marketplace for musical instruments acquired by Etsy Inc. in 2019 – as well as those active on Depop and Elo7. However, potentially in light of the company’s decreasing GMS and seller-base, Etsy announced in 2025 that they would be selling Reverb in order to focus on its core marketplace platform of Etsy as well as the popular second-hand fashion marketplace: Depop.
From Brooklyn to the world
As of March 2025, Etsy was among the most popular online shops in the United States alongside several other well-known marketplaces. Etsy has also been able to implement a strong mobile strategy and grow its app business. Since 2017, more than half of the company’s GMS was generated from the use of mobile devices. And while the Etsy app also ranks among the leading shopping apps in its home market with about ten million downloads in 2024.While its highest ever annual revenue was generated in 2024, the company also lost a large number of both sellers and buyers. However, Etsy is still abiding by their company mission, striving to stand out among mass-market competitors like Amazon, Temu, Walmart, and Shein with their offers of handcrafted goods.
