Etsy, the online marketplace for unique handmade items was found in 2005 by a group of friends. The company has always been making healthy improvements and good market revenues since then. It has many rivals in the industry and the mighty Amazon plays the main villain role, no kidding!
The so called “God of Ecommerce” Amazon has launched a separate marketplace for unique handicrafts that are a lot cheaper than products of Etsy. But honestly speaking, money does not matter or make any differences, the quality speaks a lot! In that way, classy handmade products from Etsy are superior to the ones from Amazon despite the higher rates.
However, Amazon’s heavy competition has done damages to the stock markets of Etsy. The CEO Chad Dickerson did not give in to the speculations from the media as he was quiet confident in getting back on to the track. According to a recent study, the company’s market share $61.37 million has gone down 7 percent lesser, thanks to Amazon, sarcasm much?
Etsy has also been lenient in spending money for marketing purposes but there is no sign of quicker improvement for the company. Chad Dickerson might have been adamant with his views on his company, there seems to be something going wrong for Etsy and he must figure out some ways to get good market shares before it is too late! The critics say there would be more rivals for Etsy in near future.