Etsy stands out as a vibrant online marketplace, hosting approximately 7.5 million active sellers.
It connects these sellers with its 95.1 million active buyers, facilitating a diverse array of transactions. Despite its vast user base, Etsy holds a 0.13% market share in the e-commerce platform market.
To illustrate its position in the e-commerce landscape, I’d like to share the most important Etsy statistics that are crucial to note immediately. 🛍️🌐
Etsy Statistics: The Key Data
- Etsy currently has 7.5 million active sellers.
- There are 95.1 million active buyers on Etsy.
- Etsy has a 0.13% market share in the ecommerce platform market.
- Etsy generated over $2.671 billion in revenue in 2023, which ended on June 30, a 10.1% increase over the previous year.
- Etsy has a 40.1% customer retention rate.
- Average Etsy seller makes $2,900 per year, top earners $65,000 per month.
- 97% of Etsy sellers work from their homes.
- 62% of Etsy sellers are from the United States.
- Approximately 86% of Etsy sellers are women.
- On Etsy, the average conversion rate is about 1-3%.
Sources: (Etsy, Yahoo, 6 Sense, Macro Trends, Statista, Dark Yellow Dot, Thrive My Way, WSJ, Crafty Base.)
How many sellers on Etsy?
As of 2022, there were 7.52 million active Etsy sellers. This is an increase from 4.37 million sellers in 2020 and 1.6 million sellers in 2015 according to the latest earning call from Etsy.
The number of active Etsy sellers has been on the increase in recent years, likely due to the platform’s ease of use and growing reputation as well as the rise of social media platforms like Instagram, and Pinterest.
Etsy will remain one of the most popular platforms for selling handmade goods and vintage items online unless a significant competitor emerges.
How Many People Shop on Etsy
As of 2022, there were 7.52 million active Etsy shops worldwide. Etsy is a global marketplace for unique and creative goods, with items ranging from art and collectibles to clothing and home décor.
The platform has been particularly popular among small businesses and individual sellers looking to reach a wider audience. In recent years, Etsy has also expanded its offerings to include more vintage and antique items.
As a result, the platform has become a go-to destination for shoppers looking for unique and one-of-a-kind items. With its massive selection and growing popularity, it’s no wonder that the number of Etsy shops continues to rise.
How Many Etsy Shops Are Successful?
According to Jennie Smith, Etsy’s former seller growth manager, only 26% of Etsy shops are successful and take as a full-time business. The main reason for this is the competition; there are over 7.52 million active shops on Etsy, so it can be difficult to stand out from the crowd.
To increase your chances of success on Etsy, make sure your shop is well-organized and easy to navigate and focus on creating unique and original products.
You also need to invest time and effort into marketing your shop and building a following online. And lastly, always respond promptly to customer inquiries and orders.
How Much Does The Average Etsy Seller Make?
According to SalesSamauri, the average Etsy seller makes between $43,000 and $46,000 per year. This number is likely to be lower for those sellers who are just starting on the platform and higher for more experienced sellers.
The main factors that influence how much money an Etsy seller can make include the type of products they sell, how well they market their products, and the amount of time they are able to devote to their Etsy shop.
Overall, though, it is possible to make a good living selling on Etsy if you put in the necessary work.
How Many Etsy Shops Fail
It’s been estimated that around 74% of all Etsy shops eventually fail according to Jennie Smith, Etsy’s former seller growth manager. This high failure rate is likely due to the intense competition on the platform, as well as the many challenges that come with running an online shop.
Some of the most common reasons why Etsy shops fail include: not enough traffic to the shop, lack of new product ideas, financial difficulties, and difficulty scaling the business.
Etsy Hosts 7.5 Million Active Sellers Globally.
Important takeaway:
| Insight from Data | Rationale |
| Rapid growth in the seller market. | The sheer number of 7.5 million sellers indicates a thriving platform and potentially a large increase from previous years. |
| High competition among sellers. | With millions of active sellers, individual shops need to differentiate themselves to succeed. |
| Strong platform trust and reach. | Such a high number of sellers suggests that Etsy has earned significant trust and has a wide-reaching user base. |
Source: Etsy
95.1 Million Consumers Prefer Etsy for Unique Buys.
Important takeaway:
| Insight from Data | Rationale |
| Etsy’s platform has massive appeal. | A user base of 95.1 million active buyers showcases its widespread popularity and acceptance. |
| Market potential is substantial. | With this vast number of buyers, sellers have significant opportunities to target diverse market segments. |
| Robust community engagement. | Such a high count implies a well-engaged community, ensuring repeat purchases and platform loyalty. |
Source: Yahoo
Etsy Holds 0.13% Share in Ecommerce Platform Market.
Important takeaway:
| Insight from Data | Rationale |
| Niche player in the ecommerce landscape. | Despite its recognizable brand, a 0.13% market share positions Etsy as a specialized player amidst global giants. |
| Room for growth and expansion. | The relatively small market share indicates significant potential for growth in the vast ecommerce field. |
| Focused, targeted market strategy. | Etsy’s distinct market share could suggest a strategy centered on a unique audience or product category, rather than broad market dominance. |
Source: 6 Sense
Etsy’s 2023 Revenue Climbs to $2.671B, Up 10.1% Year-on-Year.
Important takeaway:
| Insight from Data | Rationale |
| Consistent and positive revenue growth. | The 10.1% increase year-over-year demonstrates Etsy’s sustained ability to expand its revenue streams. |
| Resilience in a competitive market. | Despite the vastness of the ecommerce landscape, Etsy’s notable revenue suggests it can hold its own against competitors. |
| Potential reinvestment and expansion. | With over $2.671 billion in revenue, Etsy likely has significant capital to channel back into the platform for growth and innovation. |
Source: Macro Trends
Etsy Retains 40.1% of Its Customers Consistently.
Important takeaway:
| Insight from Data | Rationale |
| Strong bond with almost half its user base. | A 40.1% retention rate indicates that Etsy manages to maintain a significant portion of its customers year over year. |
| Opportunity for improved engagement. | While the retention rate is commendable, there’s still a vast majority to re-engage, indicating potential growth areas. |
| Loyalty driven by niche market appeal. | The substantial retention rate underscores Etsy’s unique value proposition that resonates with a specific audience segment. |
Source: Statista
Etsy Average Seller Earns $2,900 Annually; Top Achievers: $65K Monthly.
Important takeaway:
| Insight from Data | Rationale |
| Vast disparity between average and top sellers. | While the average seller earns $2,900 annually, top earners garner a staggering $65,000 monthly, indicating significant variability in success. |
| Platform allows for substantial income potential. | The earnings of top sellers demonstrate that Etsy can be a lucrative platform for those who optimize their approach. |
| Majority operate on a modest income basis. | The average annual earnings suggest that for many, Etsy may be a supplementary source of income rather than a primary one. |
Source: Dark Yellow Dot
Home-Based Business: 97% of Etsy Sellers Operate from Home.
Important takeaway:
| Insight from Data | Rationale |
| Dominance of home-based businesses. | The staggering 97% indicates that Etsy largely supports and caters to entrepreneurs operating from their residences. |
| Flexibility and low overhead costs. | Sellers working from home can start and operate their business with minimal initial investments and fixed costs. |
| Reflection of the gig and freelance economy. | This data underscores the broader trend in modern work culture, where remote and flexible job opportunities are increasingly preferred. |
Source: Statista
U.S. Dominates with 62% of Etsy’s Seller Base.
Important takeaway:
| Insight from Data | Rationale |
| Strong U.S. market presence and foundation. | A majority of 62% from the United States emphasizes Etsy’s significant foothold and origin in the American entrepreneurial landscape. |
| Potential for international expansion. | While the U.S. forms the majority, the remaining 38% suggests Etsy has a global presence, with room for further growth abroad. |
| Diverse cultural representation in product listings. | With sellers outside the U.S. making up a substantial portion, Etsy offers a rich assortment of goods reflecting global artistry. |
Source: Thrive My Way
Etsy Empowers: 86% of Its Sellers Are Women.
Important takeaway:
| Insight from Data | Rationale |
| Etsy is a prominent platform for female entrepreneurs. | With 86% of its sellers being women, Etsy stands out as a preferred and empowering platform for female-led businesses. |
| Reflection of gender dynamics in craft and DIY niches. | Traditionally, crafts and DIY projects have seen significant female participation, and this could influence the demographic distribution on Etsy. |
| Opportunity for diverse gender inclusivity initiatives. | While the female majority is strong, there’s potential for Etsy to further engage and support male and non-binary sellers in its ecosystem. |
Source: WSJ
Etsy Boasts Average Conversion Rates Between 1-3%.
Important takeaway:
| Insight from Data | Rationale |
| Typical performance in a competitive landscape. | The 1-3% conversion rate aligns with many online retail platforms, indicating that Etsy faces similar challenges and opportunities as its peers. |
| Highlights the value of quality over quantity. | With a relatively low conversion rate, it underscores the importance for sellers to prioritize product quality and effective marketing. |
| Room for optimization and targeted strategies. | The range suggests that while some sellers might be hitting the higher end, there’s ample opportunity for many to refine their sales tactics. |
Source: Crafty Base
