ETSY Latest Report

Etsy's Financial Performance

Etsy's total operating revenue in 2024 was $852.16 million, up 0.99% from $842.32 million in 2023. This growth indicates the company maintained a relatively stable growth trend in its operating revenue. Although the growth rate was moderate, the stable demand and improved strategies supported it.

Key Financial Data

1. The total operating revenue in 2024 was $852.16 million, up 0.99% from 2023.

2. Etsy launched an AI-based "gift mode" in 2024, offering over 200 gift guides to attract consumers.

3. The global e-commerce retail sales are expected to reach $6.3 trillion in 2024, with a year-on-year growth rate of 7.9%.

4. Etsy's total merchandise sales (GMS) decreased by 4.1% to $2.92 billion in 2024, with a net profit of $57.4 million, down 34.7% year-on-year.

Peer Comparison

1. Industry-wide analysis: In 2024, the e-commerce industry as a whole maintained growth, especially the demand for personalized and handmade goods markets continued to rise, driving the revenue growth of companies in the industry. The overall market consumption trend shifted to online, and Etsy benefited from this trend as a major player.

2. Peer evaluation analysis: Compared with the revenue growth of other companies in the industry, Etsy's revenue growth was relatively moderate. Competitors like SHEIN expected revenue of $4.82 billion in 2024, with a growth rate of 32%. This suggests that Etsy needs to further improve its market share and customer loyalty to maintain its growth momentum in the competition.

Summary

Etsy's operating revenue grew slightly in 2024, reflecting stable market demand and the company's efforts to launch new products. Although the e-commerce industry as a whole maintained growth, Etsy still faces significant market competition, especially from rapidly growing competitors.

Opportunities

1. The "gift mode" based on AI technology may attract more consumers and drive sales growth.

2. With the continuous growth of the global handmade goods market, Etsy can take advantage of this opportunity to expand its product line and attract more consumers.

3. Strengthening marketing strategies and brand promotion can further enhance market recognition and customer loyalty.

Risks

1. The increasing competition, especially in the personalized goods and handmade goods sectors, may lead Etsy to lose market share.

2. The decrease in total merchandise sales (GMS) and a significant decrease in net profit indicate that the company needs to be cautious in responding to market fluctuations.

3. The increasing focus on value for money and rational consumption may affect the sales of high-priced goods.