Little Etsy, started in 2005, is now the fastest growing site for individuals to sell their handmade merchandise.
According to the Etsy website “Etsy was started in 2005 by Rob Kalin (28) in early 2005. A painter, carpenter, and photographer, Rob found there was no viable marketplace to exhibit and sell his creations online –other E-commerce sites having become too inundated with overstock electronics and broken appliances.” (read eBay).
Etsy was started as a place for artists, crafters and creators to connect with buyers directly. Their low fees and focus on quality handmade goods only has attracted over 2 million members since its founding. According to AuctionBytes, Etsy sold over $12 worth of handmade goods last month, March 2009. That compares with $1.6 million in March 2008.
Here is a chart of Etsy’s growth to date:
Total Members: over 2.1 million
Total Sellers: over 200,000
Items Currently Listed: over 3.4 million
Total $ sold (Gross Merchandise Sales)
2005 = $166,000
2006 = $3.8 million
2007 = $26 million
2008 = $87.5 million
2009 = $32 million (through March)
At this rate, Etsy should go over $200 million this year. Given the state of the current economy that is pretty good growth. So if you make and sell handcrafted goods, give Etsy a try. But for the rest of us, there is still eBay.
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