The online handmade goods marketplace, Etsy, is at a crossroads. After booming during the pandemic, the company’s gross merchandise sales have been flat in 2022 and 2023. Etsy’s stock is down more than 70% from its all-time high in 2021, and its first-quarter 2024 earnings report revealed another disappointing earnings miss. Some of its sellers say the company’s laser-sharp focus on growth has pushed Etsy away from its core mission — to keep commerce human — and instead allows for an increasing number of drop shippers to join the platform.
Chapters:
0:00 Intro
1:46 Chapter 1. A revolutionary idea
5:39 Chapter 2. At a crossroads
9:30 Chapter 3. The future
Produced, Shot and edited by: Natalie Rice
Animation by: Christina Locopo, Jason Reginato
Senior Managing Producer: Tala Hadavi
Editorial Support: Jeniece Pettitt
Footage: Getty Images, AP Photos, Etsy, Nicole Aline Legault, Chiarra Lohr
Additional sourcing: FactSet, Oppenheimer & Co., Wayback Machine
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What Happened To Etsy?
