Etsy, Inc. (Etsy): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo vibrante do comércio eletrônico, o Etsy é um mercado digital exclusivo que transforma a paixão criativa em empresas prósperas. Mais do que apenas uma loja on -line, a Etsy revolucionou como artesãos, artesãos e coletores antigos independentes se conectam com consumidores socialmente conscientes em todo o mundo. Ao fornecer uma plataforma que celebra a individualidade e o artesanato, o Etsy criou um nicho distinto na economia digital, permitindo milhões dos criadores para transformar seus talentos artísticos em fluxos de renda sustentável, oferecendo aos compradores uma experiência de compra sem paralelo e personalizada.

Etsy, Inc. (Etsy) - Modelo de negócios: Parcerias -chave

Vendedores de terceiros e artesãos independentes

A partir do quarto trimestre de 2023, a Etsy tinha 7,47 milhões de vendedores ativos em sua plataforma. A receita média do vendedor era de US $ 3.400 anualmente.

Categoria de vendedor	Número de vendedores	Receita média anual
Bens feitos à mão	2,1 milhões	$4,200
Itens vintage	500,000	$2,800
Suprimentos de artesanato	1,2 milhão	$3,600

Processadores de pagamento

O Etsy se integra a vários processadores de pagamento para facilitar as transações.

• PayPal: 35% do volume de transações
• Faixa: 40% do volume de transações
• Pagamentos Etsy: 25% do volume de transações

Fornecedores de remessa e logística

A Etsy faz parceria com vários provedores de remessa globalmente.

Parceiro de remessa	Cobertura de mercado	Volume de transação
USPS	Estados Unidos	45% das remessas
UPS	Global	25% das remessas
FedEx	Global	20% das remessas
Transportadoras locais	Regional	10% das remessas

Plataformas de marketing digital

A Etsy investe em parcerias de marketing digital para impulsionar o crescimento da plataforma.

• Google anúncios: gastos anuais de US $ 120 milhões
• Anúncios do Facebook: gastos anuais de US $ 85 milhões
• Anúncios do Pinterest: gastos anuais de US $ 40 milhões

Provedores de tecnologia e serviços em nuvem

O Etsy conta com infraestrutura tecnológica avançada.

Parceiro de tecnologia	Serviço prestado	Investimento anual
Amazon Web Services	Hospedagem em nuvem	US $ 45 milhões
Google Cloud	Análise de dados	US $ 25 milhões
Microsoft Azure	Backup e recuperação de desastres	US $ 15 milhões

Etsy, Inc. (Etsy) - Modelo de Negócios: Atividades -chave

Gerenciamento de plataforma de comércio eletrônico

A Etsy gerencia um mercado on -line global com 95,4 milhões de compradores ativos a partir do quarto trimestre 2023. A infraestrutura da plataforma suporta 7,4 milhões de vendedores ativos em todo o mundo.

Métrica da plataforma	2023 dados
Vendas totais de mercadorias brutas	US $ 13,7 bilhões
Número de vendedores ativos	7,4 milhões
Número de compradores ativos	95,4 milhões

Facilitação da comunidade de vendedores e compradores

O Etsy fornece ferramentas abrangentes de suporte ao vendedor e recursos de engajamento da comunidade.

• Recursos de Educação do Vendedor
• Fóruns da comunidade
• Análise de desempenho do vendedor
• Ajuda do vendedor HelpDesk

Desenvolvimento e manutenção de tecnologia

Os investimentos em tecnologia totalizaram US $ 214,1 milhões em 2023, representando 17,3% da receita total.

Categoria de investimento em tecnologia	2023 gastos
Desenvolvimento de produtos	US $ 126,7 milhões
Manutenção de infraestrutura	US $ 87,4 milhões

Marketing e aquisição de clientes

As despesas de marketing atingiram US $ 280,5 milhões em 2023, representando 22,5% da receita total.

• Campanhas de publicidade digital
• Marketing de mídia social
• Marketing por e -mail direcionado
• Programas de marketing de afiliados

Monitoramento de confiança e segurança

A equipe dedicada monitora a integridade da plataforma com sistemas avançados de detecção de fraude.

Métrica de confiança e segurança	2023 desempenho
Taxa de prevenção de fraudes	99.2%
Investigações de violação da propriedade intelectual	42,500

Etsy, Inc. (Etsy) - Modelo de negócios: Recursos -chave

Infraestrutura de tecnologia do mercado on -line

A partir do quarto trimestre 2023, a infraestrutura tecnológica da Etsy suporta:

• 96,4 milhões de compradores ativos
• 7,4 milhões de vendedores ativos
• Mais de 100 milhões de listagens de produtos

Componente de infraestrutura	Especificação técnica
Plataforma de hospedagem em nuvem	Amazon Web Services (AWS)
Investimento de tecnologia anual	US $ 217,3 milhões em 2023
Equipe de engenharia de software	1.472 funcionários

Plataforma digital robusta e aplicativos móveis

Métricas de desempenho da plataforma móvel para 2023:

• Downloads de aplicativos móveis: 42,6 milhões
• Tráfego móvel: 61,3% do tráfego total da plataforma
• Vendas de mercadorias brutas móveis: US $ 3,2 bilhões

Grande rede global de empreendedores criativos

Distribuição geográfica	Número de vendedores
Estados Unidos	4,1 milhões de vendedores
Mercados internacionais	3,3 milhões de vendedores
Diversidade total do vendedor	7,4 milhões de vendedores

Forte reconhecimento de marca

Métricas de avaliação e reconhecimento da marca:

• Valor da marca: US $ 2,6 bilhões
• Consciência da marca global: 73%
• Classificação de confiança do consumidor: 4.7/5

Algoritmos de análise de dados e recomendação

Capacidade de análise	Métrica de desempenho
Modelos de aprendizado de máquina	87 algoritmos de recomendação ativa
Capacidade de processamento de dados	2,3 petabytes por dia
Precisão de personalização	64,2% de taxa de conversão

Etsy, Inc. (Etsy) - Modelo de Negócios: Proposições de Valor

Mercado de produtos exclusivos, feitos à mão e vintage

A partir do quarto trimestre de 2023, o Etsy hospedou 7,4 milhões de vendedores ativos e 95,4 milhões de compradores ativos em todo o mundo. A plataforma gerou US $ 1,4 bilhão em vendas brutas de mercadorias durante o trimestre.

Categoria de produto	Porcentagem de vendas
Itens feitos à mão	42%
Itens vintage (mais de 20 anos)	23%
Suprimentos de artesanato	35%

Conexão direta entre criadores e consumidores

A plataforma da Etsy permite que as interações diretas vendedores-compras com 99,5% dos itens vendidos sejam de criadores independentes.

• Valor médio da transação: $ 38,47
• Taxa de retenção do vendedor: 77%
• Marketplace Global Spanning 234 países

Baixas barreiras à entrada para vendedores de pequenas empresas

Estrutura de taxas do vendedor a partir de 2024:

Tipo de taxa	Percentagem
Taxa de listagem	$ 0,20 por item
Taxa de transação	6.5%

Experiência de compra personalizada

Os algoritmos de aprendizado de máquina personalizam 68% das experiências de compras do usuário, aumentando as taxas de conversão em 22%.

Alcance global para artesãos independentes

Em 2023, as vendas internacionais representaram 36,2% do total de vendas de mercadorias brutas, totalizando US $ 13,2 bilhões.

Principais mercados internacionais	Porcentagem de vendas internacionais
Reino Unido	15.3%
Canadá	12.7%
Alemanha	9.5%

Etsy, Inc. (Etsy) - Modelo de Negócios: Relacionamentos do Cliente

Plataforma orientada à comunidade

A partir do quarto trimestre de 2023, o Etsy tinha 95,4 milhões de compradores ativos globalmente. A plataforma hospeda 7,47 milhões de vendedores ativos em 234 países e regiões.

Métrica	Valor
Total de compradores ativos	95,4 milhões
Vendedores ativos totais	7,47 milhões
Alcance geográfico	234 países/regiões

Revisões de usuários e sistema de classificação

O sistema de revisão da Etsy inclui:

• Mecanismo de classificação de 5 estrelas
• 94% dos compradores relatam deixar feedback após compras
• Tempo médio de resposta para revisões de vendedor: 24-48 horas

Recomendações personalizadas

Algoritmos de aprendizado de máquina geram recomendações com base em:

• Precisão de 72% nas sugestões de produtos
• Mais de 1,8 milhão de recomendações exclusivas de produto por dia
• A personalização aumenta as taxas de conversão em 35%

Suporte ao cliente e resolução de disputas

Métrica de suporte	Desempenho
Tempo médio de resposta	4-6 horas
Taxa de resolução	92%
Canais de suporte	E -mail, bate -papo, telefone

Ferramentas de comunicação de vendedor e comprador

Recursos da plataforma de comunicação:

• Sistema de mensagens instantâneas
• Encomendar integração de rastreamento
• Taxa de resposta de mensagem de 94% dentro de 24 horas
• Serviços de tradução integrada para comunicação global

Etsy, Inc. (Etsy) - Modelo de Negócios: Canais

Aplicativo móvel

O aplicativo móvel da Etsy relatou 93,9 milhões de usuários de aplicativos ativos no quarto trimestre 2023. O aplicativo móvel gerou US $ 3,4 bilhões em vendas de mercadorias brutas durante 2023. Downloads de aplicativos móveis atingiram 12,4 milhões no mesmo ano.

Métricas de aplicativos móveis	2023 dados
Usuários móveis ativos	93,9 milhões
Vendas de mercadorias brutas	US $ 3,4 bilhões
Downloads de aplicativos móveis	12,4 milhões

Plataforma baseada na Web

A plataforma da Web da Etsy registrou 89,2 milhões de compradores ativos em 2023. O site gerou US $ 13,8 bilhões em vendas totais de mercadorias brutas durante o mesmo período.

• Tráfego total do site: 471,3 milhões de visitas mensais
• Vendedores únicos: 7,8 milhões de vendedores ativos
• Disponibilidade do site global: 83 países

Marketing de mídia social

Os canais de mídia social da Etsy demonstraram envolvimento significativo em 2023.

Plataforma social	Contagem de seguidores
Instagram	3,2 milhões de seguidores
Pinterest	5,6 milhões de seguidores
Facebook	2,9 milhões de seguidores

Marketing por e -mail

A estratégia de marketing por email da Etsy atingiu 62,4 milhões de assinantes em 2023. A empresa relatou uma taxa de abertura por e-mail de 22,7% e uma taxa de cliques de 3,4%.

Publicidade digital

A Etsy investiu US $ 367,2 milhões em despesas de marketing e publicidade em 2023. Os canais de publicidade digital incluíam anúncios do Google, publicidade de mídia social e plataformas de publicidade programática.

Métricas de publicidade digital	2023 dados
Total de despesas de marketing	US $ 367,2 milhões
Taxa de conversão de publicidade digital	2.6%
Eficiência de gastos com anúncios digitais	4.2x retorno sobre gastos com anúncios

Etsy, Inc. (Etsy) - Modelo de negócios: segmentos de clientes

Artistas e artistas independentes

A partir do quarto trimestre de 2023, o Etsy tinha 7,4 milhões de vendedores ativos em todo o mundo. 95% desses vendedores são pequenas empresas independentes ou criadores individuais.

Característica do vendedor	Percentagem
Vendedores femininas	83%
Vendedores que operam em casa	97%
Vendedores considerando a fonte de renda primária do Etsy	36%

Coletores de produtos vintage

O Etsy hospeda aproximadamente 2,5 milhões de itens vintage listados a partir de 2023, representando 10% do inventário total do mercado.

Categoria vintage	Faixa de preço médio
Roupas vintage	$45 - $250
Móveis vintage	$150 - $1,500
Acessórios vintage	$25 - $300

Consumidores Millennial e Gen Z

Em 2023, 75% da base de clientes da Etsy tinha menos de 40 anos.

• Compradores milenares: 45% da base total de clientes
• Compradores da geração Z: 30% da base total de clientes
• Valor médio da transação para esses segmentos: US $ 48

Compradores de presentes

As compras relacionadas a presentes representaram 25% do total de transações do Etsy em 2023, com um valor estimado de US $ 1,2 bilhão.

Categoria de presente	Porcentagem de compras de presentes
Presentes personalizados	42%
Presentes feitos à mão	35%
Presentes vintage	23%

Consumidores socialmente conscientes

Em 2023, 68% dos compradores do Etsy expressaram preferência por produtos sustentáveis ​​e eticamente produzidos.

• Vendedores com certificações de sustentabilidade: 22%
• Listagens de produtos ecológicos: 350.000+
• Gastes médios em produtos sustentáveis: US $ 65

Etsy, Inc. (Etsy) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Em 2023, a Etsy relatou despesas de tecnologia e desenvolvimento de US $ 265,5 milhões, representando 16,2% da receita total. A infraestrutura em nuvem da empresa e os custos de data center são gerenciados principalmente por meio de serviços da Web da Amazon (AWS).

Categoria de custo	Despesa anual (2023)	Porcentagem de receita
Infraestrutura em nuvem	US $ 98,3 milhões	5.9%
Licenciamento de software	US $ 42,7 milhões	2.6%
Manutenção de hardware	US $ 24,5 milhões	1.5%

Marketing e aquisição de clientes

As despesas de marketing da Etsy em 2023 totalizaram US $ 336,2 milhões, representando 20,5% da receita total.

• Gastes de publicidade digital: US $ 214,3 milhões
• Marketing de desempenho: US $ 87,6 milhões
• Campanhas de marketing de marca: US $ 34,3 milhões

Taxas de processamento de pagamento

Em 2023, os custos de processamento de pagamento da Etsy foram de US $ 237,8 milhões, representando 14,5% da receita total.

Componente de processamento de pagamento	Custo anual (2023)
Taxas de transação de cartão de crédito	US $ 186,4 milhões
Gateway de pagamento cobranças	US $ 51,4 milhões

Desenvolvimento da plataforma

A Etsy investiu US $ 156,7 milhões em desenvolvimento e engenharia de plataformas em 2023.

• Engenharia de software: US $ 98,2 milhões
• Desenvolvimento de produtos: US $ 42,5 milhões
• Design de experiência do usuário: US $ 16 milhões

Operações de suporte ao cliente

As despesas de suporte ao cliente da Etsy em 2023 totalizaram US $ 87,3 milhões.

Canal de suporte	Custo anual (2023)
Suporte de bate -papo	US $ 35,6 milhões
Suporte por e -mail	US $ 29,7 milhões
Suporte telefônico	US $ 22 milhões

Etsy, Inc. (Etsy) - Modelo de negócios: fluxos de receita

Taxas de transação das vendas do vendedor

A partir do quarto trimestre 2023, Etsy cobra um Taxa de transação de 6,5% no preço total de venda de cada item vendido por meio de sua plataforma. Esta taxa se aplica ao preço do produto e aos custos de envio.

Taxas de listagem para produtos

Os vendedores são cobrados $ 0,20 por listagem de produtos na plataforma Etsy. As listagens são válidas por quatro meses ou até que o item seja vendido.

Detalhes da taxa de listagem	Quantia
Custo por listagem	$0.20
Duração da listagem	4 meses

Receita de publicidade

Etsy oferece Anúncios externos e Anúncios Etsy Como opções de publicidade:

• Anúncios externos: Etsy cobra 12 a 15% do preço de venda por anúncios em plataformas externas
• Anúncios Etsy: os vendedores podem promover listagens no mercado Etsy

Tipo de publicidade	Porcentagem de taxa
Anúncios externos	12-15%

Vendas de rótulos de remessa

O Etsy gera receita vendendo rótulos de remessa com desconto para vendedores. A partir de 2023, eles oferecem taxas competitivas por meio de parcerias com transportadoras de remessa.

Serviços de vendedor premium

Etsy oferece Etsy Plus assinatura em US $ 10 por mês, fornecendo ferramentas adicionais de marketing e personalização de lojas.

Serviço premium	Custo mensal
Etsy Plus assinatura	$10

Etsy, Inc. (ETSY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why buyers choose Etsy, Inc. over mass retail, and why sellers stick with the platform. It's all about differentiation and tooling, supported by some very concrete numbers from the 2025 fiscal year.

For Buyers: Access to unique, personalized, and vintage items not found in mass retail.

The value here is scarcity and self-expression. Buyers come to Etsy, Inc. specifically to avoid the generic. This is evident in the transaction data; for instance, 33% of all sales involve customized items, showing a strong demand for personalization. Furthermore, 44% of purchases are made as gifts, indicating Etsy, Inc. is a primary destination for meaningful, non-mass-produced presents. This focus on the unique is what keeps the marketplace distinct.

For Sellers: A low-friction digital storefront with global reach to 87.3 million active buyers.

This is the scale proposition. Sellers get immediate access to a massive, targeted audience. As of the second quarter of 2025, the platform served 87.3 million active buyers, which is the number of unique customers who made at least one purchase in the preceding 12 months. This reach is supported by a dedicated seller base, with 5.4 million active sellers on the platform at the end of Q2 2025, all operating within a system designed to minimize setup friction.

Community and Story: Connection to the maker and the story behind the product.

The human element is a key differentiator that drives loyalty. This connection translates directly into repeat business, which is crucial for platform health. In the first half of 2025, the platform maintained a highly engaged core, with 36.9 million active buyers identified as repeat customers, representing a significant portion of the overall base.

Business Tools: Enhanced seller analytics and AI-powered listing guidance to save time.

Etsy, Inc. is investing heavily to make the creative process more efficient. The introduction of new AI-driven assistants for tasks like drafting buyer messages and listing titles has shown immediate impact. Sellers using these new tools reported a 10 percentage point rise in satisfaction scores year over year following their release. On the discovery side, AI-powered personalization tools are seeing a 67% adoption increase among successful sellers, with early adopters reporting 10-15% conversion rate improvements through dynamic recommendations.

Here's a quick look at the financial and operational metrics supporting the seller value proposition:

Metric	Value (Latest Reported 2025 Data)	Context/Timeframe
Active Buyers	87.3 million	Q2 2025 End
Active Sellers	5.4 million	Q2 2025 End
Seller Satisfaction Score Improvement	10 percentage points	Year-over-year change post-AI tool launch
AI Personalization Tool Adoption Increase	67%	Among successful sellers
Conversion Rate Improvement (Early Adopters)	10-15%	From dynamic product recommendations

Sustainability: Carbon-neutral shipping and a dedicated focus on eco-friendly products.

Etsy, Inc. has taken a leading stance on the environmental impact of e-commerce, addressing the fact that 98 percent of its emissions stemmed from shipping. The company became the first major online shopping destination to offset 100% of carbon emissions generated by shipping, a commitment that started in early 2019 and continues to be a core value. The long-term climate goal is to reach net-zero emissions by 2030. To achieve this, the company has set an internal target for a 97% reduction in Scope 3 emissions (which includes shipping and packaging) per dollar of gross profit.

The platform supports sellers who prioritize sustainable sourcing, which is reflected in the types of products that perform well. You can see this focus in the trending keywords, which heavily feature terms like 'eco-friendly' alongside product types.

• Offset 100% of shipping emissions since 2019.
• Net-Zero Emissions Goal by 2030.
• Targeting 97% reduction in Scope 3 emissions per gross profit dollar.

Etsy, Inc. (ETSY) - Canvas Business Model: Customer Relationships

You're looking at how Etsy, Inc. keeps its buyers coming back and its sellers supported in this evolving digital marketplace. It's all about data-driven interactions now, defintely.

Automated Personalization: AI-driven product feeds and recommendations to encourage repeat visits

Etsy, Inc. is heavily investing in machine learning to tailor the shopping experience. Engagement nearly doubled upon adding personalized homepages, as reported in the first-quarter earnings call of 2025. The platform now learns from behavioral signals like clicks, favorites, and dwell time to determine listing visibility in curated feeds.

The mobile app is the primary channel for this personalized discovery, accounting for 44% of Gross Merchandise Sales (GMS) in the second quarter of 2025. Etsy is using AI across push notifications and emails to drive buyer engagement and frequency. The company's total marketing spend in 2024 was $856.6 million.

Habitual Buyer Programs: Nurturing the 6.1 million habitual buyers for high-frequency purchases

The core group of highly engaged shoppers remains a focus. As of the first quarter of 2025, the number of habitual buyers-defined as those who shop 6+ days and spend $200+ per year-dropped 11% to 6.2 million. For context, in 2024, habitual buyers accounted for approximately 41% of total GMS.

Here's a snapshot of the buyer and seller base as of the latest available data points:

Metric	Value	Period/Year
Active Buyers	~88.5 million	Q1 2025
Habitual Buyers	6.2 million	Q1 2025
Active Sellers	~5.4 million	Q1 2025
Average Etsy Consumer Spend	$131.68	2024
Total Revenue	$2.81 billion	2024

Seller Support: Improved customer support and community forums for seller issues

Etsy, Inc. continues to refine its support structure for its sellers. In Q1 2025, the active seller count stood at approximately 5.4 million, a notable decrease from 7.0 million a year prior. Sellers earned a collective total of $10.566 billion in 2024, averaging $1,299 per seller.

The platform uses community-driven insights to shape its seller-facing tools. The average base salary for an Etsy employee in a role like Customer Service Representative was reported at $47,472/year.

Digital Self-Service: Extensive help center and automated post-purchase messages

The focus on digital self-service is evident in the platform's overall efficiency metrics. The company's take rate reached a record high of 23.3% in the first quarter of 2025.

Key operational data points related to buyer interaction include:

• Monthly website visits: 390-400 million (early 2025).
• Average session duration: Approximately 5 minutes.
• Bounce rate: Around 42%.
• Mobile users purchased 68% of consolidated GMS in 2023.

Direct Communication: Email marketing and in-app notifications for sales and trends

Direct communication channels are being enhanced with AI to drive targeted outreach. Etsy is specifically tapping AI for its push notifications and email campaigns. Sellers are encouraged to build their own email lists to secure repeat buyers, as Etsy permits this direct marketing provided subscribers opt-in.

The platform's focus on mobile is central to its notification strategy, with the app commanding over 44% of GMS in Q2 2025. The company's 2024 revenue was $2.81 billion.

Etsy, Inc. (ETSY) - Canvas Business Model: Channels

The channels Etsy, Inc. uses to reach and serve its customers are a mix of owned digital properties and paid external placements, evolving to prioritize mobile and owned marketing efforts as of late 2025.

• Etsy Marketplace Website: The primary global e-commerce platform.
• Etsy Mobile App: A key channel, accounting for approximately 45% of marketplace GMS in Q2 2025.

Etsy is shifting marketing spend away from linear TV toward streaming and social media platforms to meet shoppers where they discover products.

• Social Media: Organic and paid presence on platforms like Instagram and Pinterest.
• Offsite Ads: Paid placements on Google, Facebook, and other third-party sites. GMS from owned marketing channels, including email and push notifications, increased by about one-third year-over-year in Q2 2025.

The performance across the core marketplace and key subsidiary is detailed below:

Channel/Marketplace Segment	Metric	Amount/Value (Q2 2025)
Etsy Marketplace (Core)	Gross Merchandise Sales (GMS)	$2.4 billion
Etsy Marketplace (Core)	Year-over-Year GMS Change	Down 5.4%
Depop (Niche Marketplace)	Gross Merchandise Sales (GMS)	$250 million
Depop (Niche Marketplace)	Year-over-Year GMS Growth	Up 35.3%
Depop (Niche Marketplace - U.S. Only)	GMS Growth	Up 54%
Depop (Niche Marketplace)	2024 Gross Merchandise Sales (GMV)	$788 million
Consolidated (Etsy + Depop + Reverb contribution)	Total GMS	$2.8 billion
Consolidated (Excluding Reverb)	GMS	$2.7 billion

Revenue growth in Q2 2025, which reached $672.7 million, was driven primarily by on-site ads performance and, to a lesser extent, payments for both Depop and Etsy, Inc. The consolidated take rate for the quarter was 24.0%.

Etsy, Inc. (ETSY) - Canvas Business Model: Customer Segments

You're looking at the core demand driving Etsy, Inc.'s marketplace as of late 2025. The customer base isn't monolithic; it's a blend of creators needing an audience and shoppers seeking things they simply can't find anywhere else. Honestly, understanding the scale and behavior of these groups is key to valuing the platform.

The primary segments are the supply side-the Creative Entrepreneurs-and the demand side-the Unique Shoppers. The numbers show a marketplace that has tightened its seller base while maintaining a massive, though slightly shrinking, buyer pool compared to pandemic peaks.

Customer Segment Metric	Latest Reported Figure (Primarily Q3 2025)	Comparison/Context
Active Sellers (Creative Entrepreneurs)	5.5 million	Down 10.9% year-over-year as of Q3 2025
Active Buyers (Unique Shoppers)	86.6 million	Down 5.0% year-over-year as of Q3 2025
Habitual Buyers (TTM)	6.0 million	Trailing twelve-month count at Q3 2025 end
Depop Active Buyers	6.6 million	Up 38.8% year-over-year in Q3 2025
Depop Active Sellers	3.0 million	Up 40.8% year-over-year in Q3 2025

The Creative Entrepreneurs are the makers, artists, and small businesses. While the active seller count was reported at 5.4 million in Q1 2025, the most recent Q3 2025 figure shows 5.5 million active sellers. This reflects a deliberate tightening, as the Q1 2025 number was down 23% year-over-year from 7.0 million.

The Unique Shoppers are the core buyers seeking personalization. As of Q3 2025, the active buyer count stood at 86.6 million. For context, in 2024, 95.5 million active buyers shopped on the platform. Etsy reactivated 6.6 million lapsed buyers in Q3 2025 alone.

Within the Unique Shoppers, the Habitual Buyers-those who shop 6+ days and spend $200+ per year-are critical. The trailing twelve-month count for this group was 6.0 million at the end of Q3 2025. This group represented approximately 7% of consumers in 2024.

The Resale/Vintage Enthusiasts segment is primarily served by the Depop platform, which Etsy owns. In Q3 2025, Depop reported 6.6 million active buyers and 3.0 million active sellers. Depop's Gross Merchandise Sales (GMS) hit $292.1 million in that quarter, a jump of 39.4% year-over-year.

The Gift Givers are a behavioral subset of the Unique Shoppers. Here's what the 2024 data suggests about their motivation:

• 29% of buyers shop on Etsy to look for a gift.
• Custom or made-to-order merchandise accounted for 30% of 2024 GMS.
• 83% of buyers report that Etsy has items they can't find anywhere else.
• 84% of buyers say shopping on Etsy means they can support small businesses.

The GMS per active buyer on a trailing twelve-month basis was $121 as of Q3 2025, down 1.6% year-over-year. Also, international buyers accounted for 40% of Etsy's sales in 2025.

Etsy, Inc. (ETSY) - Canvas Business Model: Cost Structure

You're looking at where the money goes to keep the Etsy, Inc. marketplace humming, especially as they push hard on AI and manage portfolio changes like the Reverb divestiture. Honestly, the cost structure is dominated by technology investment and driving traffic to the platform.

Technology and Development

Etsy, Inc. continues to pour resources into its platform infrastructure, particularly around AI and machine learning to enhance personalization-they are aiming for near-total personalization in marketing messages by year-end 2025, up from about 40% in Q2 2025. This investment shows up clearly in the Product Development line item.

Here are the recent figures for R&D spending:

• Research and development expenses for the twelve months ending September 30, 2025, totaled $447 million.
• Q1 2025 consolidated Product Development spend was $110.510 million.
• Q2 2025 consolidated Product Development spend declined by 2.3% year-over-year to $112,000,000.

Marketing and Advertising

Driving buyer acquisition remains a massive cost center. Performance marketing spend is key, though the mix shifts; for instance, Q1 2025 saw a reduction in brand media spend coming off the prior year's Gifting experience launch.

The spend breakdown for Q1 2025 shows this:

• Consolidated Marketing spend in Q1 2025 was $189 million, a 1% decrease year-over-year.
• In Q2 2025, Etsy increased its consolidated marketing spend as a percentage of revenue, focusing on performance marketing and paid social.

Employee Compensation

Salaries and related costs for the team are a significant fixed component. As of December 31, 2024, Etsy, Inc. had 2,400 employees, a number projected to hold steady at 2,400 for 2025. To give you a sense of the talent cost, the median salary for employees on an H1-B work-based visa within engineering teams in 2024 was reported at $180,000.

Payment Processing Costs

While these are largely passed through or netted against revenue, the structure of the fees paid to third-party processors for handling transactions is embedded in the cost of revenue and services. For US sellers utilizing Etsy Payments in 2025, the fee structure Etsy manages is a flat rate of 3% plus $0.25 per order on the total sale amount, including shipping and taxes where applicable.

Operating Expenses

The overall operating expense base is under scrutiny, especially following non-cash charges. Q1 2025 operating expenses increased significantly to $481.4 million, which was up 23.2% year-over-year. This jump was heavily impacted by a specific, non-cash charge.

The major driver of the Q1 expense increase was the $101.7 million asset impairment charge related to the goodwill of Reverb, which Etsy announced it was selling for $105 million in cash post-quarter.

Here's a look at the key expense and operational figures from Q1 2025:

Expense/Metric Category	Q1 2025 Amount (in millions USD)	Y/Y Change
Total Operating Expenses	$481.4	+23.2%
Asset Impairment Charge (Reverb)	$101.7	N/A
Marketing Spend	$189.0	-1%
Product Development Spend	$110.510	Varies
General and Administrative Spend	$80.225	Varies

The company's General and Administrative spend for Q1 2025 was $80.225 million.

Etsy, Inc. (ETSY) - Canvas Business Model: Revenue Streams

Etsy, Inc. (ETSY) generates revenue through a combination of marketplace fees and seller services, with a clear trend toward increased reliance on services revenue as of late 2025.

The core revenue streams are directly tied to seller activity on the platform. For example, in the first quarter of 2025, total revenue reached $651.2 million, with Services Revenue growing to $192.7 million, up 7.7% year-over-year.

For the full year 2024, total revenue was reported at $2.81 billion, with Marketplace Revenue at $2.02 billion and Services Revenue at approximately $788 million.

The overall take rate, which is revenue as a percentage of Gross Merchandise Sales (GMS), reached 23.3% in Q1 2025.

Here is a breakdown of the primary fee components that constitute the Marketplace Revenue and contribute to the Services Revenue:

Revenue Component	Fee Structure / Rate	Basis of Calculation
Transaction Fees	6.5%	Total sale price (item + shipping + gift wrap)
Listing Fees	$0.20 per item	Four-month listing period or renewal
Payment Processing Fees (U.S. Example)	3% + $0.25	Per transaction on the total order amount
Offsite Ads Fee (Mandatory for high-earners)	12% or 15%	Total order amount
Currency Conversion Fee	2.5%	Per conversion from listing currency to payment account currency

Transaction Fees:

Etsy, Inc. charges a 6.5% transaction fee on the total order amount. This percentage applies to the item price, shipping fees charged to the buyer, and any optional gift wrap charges.

Payment Processing Fees:

This fee is charged when a buyer pays using Etsy Payments. The rate varies by seller location. For U.S. sellers, the fee is typically 3% + $0.25 per transaction, calculated on the total amount paid by the customer, including sales tax.

For comparison, some sources cite the U.S. rate as 2.9% + $0.30 per transaction.

Listing Fees:

Sellers pay $0.20 to list an item, which remains active for four months or until sold. Additional listing fees apply:

• $0.20 for each additional quantity sold beyond the first in a single transaction.
• $0.20 charged when a private listing is purchased.

Services Revenue:

This stream is growing faster than Marketplace Revenue, indicating a strategic shift. Services Revenue for the full year 2024 was $787.6 million to $788 million. The Q1 2025 Services Revenue was $192.7 million.

This category encompasses several distinct revenue sources:

• Etsy Ads (Pay-per-click revenue).
• Offsite Ads (Mandatory for sellers exceeding an annual revenue threshold, e.g., $10,000).
• Shipping label purchases (where Etsy offers discounted carrier rates).

Subscription Services:

Fees from value-added seller tools are included within the Services Revenue segment. These include subscriptions such as Etsy Plus and other premium seller offerings.

A Regulatory Operating Fee of 0.25% of the sale price, including shipping and gift wrapping, is also applied in certain jurisdictions to cover compliance costs.