The Etsy website strictly enforces a rule: no mass-produced products. On the website, you can buy a handbag, but not LV or Hermès; you can buy a shirt, but not Raff. Lauren. On Etsy, all products are original handmade products, so you can say it is an American version of Taobao for handicrafts.
Online version of creative market
Taobao, owned by Alibaba, mainly targets Chinese domestic users and has successfully covered the vast majority of China's online shopping population. But the boundless nature of the Internet has allowed more and more people to see the creativity and individuality that abound in the world. Just when they were gradually becoming numb to batches of similar products, a website called Etsy jumped into their eyes, which was like injecting a stimulant into their lives.
The Etsy website is not as well-known as Taobao, eBay and other mainstream e-commerce websites, but it provides everyone with extraordinary network services with its unique business perspective and diverse profit models.
The products traded on the Etsy website are diverse, including clothing, jewelry, toys, photography, household items... However, these products have a common premise: original and handmade. Therefore, Etsy does not gather ordinary people, but a large number of extremely creative craftsmen and talented designers. They not only create their own brands online, open stores to sell homemade handicrafts, but also participate in online community exchanges and conduct online For a party, attend an Etsy-sponsored craft fair or show. Therefore, Etsy's value to sellers can no longer be measured solely in terms of money. It is more of a connection to a group of craftsmen.
In 2008, more than 3 million customers from 150 countries purchased approximately $87.5 million in merchandise on Etsy. In 2009, Etsy sold more than 100 million items. Groups of data fully demonstrate that in this era of chain stores and retail centers, there is still a huge market for unique handmade products.
Three cobblers stand up to Zhuge Liang
We have to admit that Etsy is indeed the world's largest online trading market for handmade products, and at the same time, it also has unlimited potential. It's a bit unbelievable that this young website, which ranks favorably on the list of "The 50 Best Websites of 2009" selected by Time magazine in the United States, was actually created by three young guys.
In 2005, 24-year-old Rob. Carlin founded Etsy with two friends with similar interests. It is headquartered in Brooklyn, New York, USA. Their manifesto is to provide a trading and communication place for people who love handmade products. In keeping with the site's artisanal feel, nearly everything in the company is made or selected by employees themselves. Writing computer programs, connecting cables, and even large and small furniture are all top-notch products found in street shops.
Perhaps Rob was motivated by his preference for quirky handmade products since he was a child. Carlin created the Etsy website. He was born in Boston, and his father was a carpenter. Carlin also liked to do things by himself since he was a child. Whenever he recalls his first handmade work, Carlin describes it this way: "It always exudes a magical aura."
Carlin eventually graduated from New York University with a major in classics. "I knew nothing about building a website, but I dared to try it for my hobby." Carlin said that before establishing Etsy, he worked on another handmade website and saw the handicrafts. Art market demand. So, he and several friends wrote a letter to the Butterfields, the founders of Flicker, and their unique idea caught the attention of the couple who created the world's most popular photo-sharing website. In 2006, the Butterfields invited the Etsy team to San Francisco. During that month, the Butterfields gave Carlin and others a lot of key guidance and helped them raise $616,000 in operating capital.
Even so, it was very difficult when the website first started operating, especially when the team was led by a few young people with little experience. "It's really difficult for us." Carlin said that sellers and buyers on the website often complain about technical problems on the website and poor after-sales service.
It can be said that Etsy's initial development was not ideal. It took two years for Etsy to sell 1 million items online. In July 2008, Carlin found Maria. Thomas handed the site's CEO role to the former head of National Public Radio's digital media and brought in Yahoo executive Chad. Dixon serves as the site's technical president. With the two men working side by side, Etsy's sales quickly doubled. In April 2009, Etsy users launched a promotional event called "etsy day" on Twitter, the world's most influential micro-blogging site. For a time, the Etsy website attracted much attention.
Etsy gradually became profitable, and at the end of 2009, Carlin took over the position of CEO of the website.
The core is "handmade"
Many people are wondering, what does Etsy stand for? Carlin explained that because he started from scratch, he wanted to use a meaningless word. While watching Fellini's "Eight and a Half", he casually wrote down a word he heard at that time - "etsi". Italians often say "etsi", which means "well, yes", and in Latin , it means "if".
Today, Etsy has 70 employees and the company's total annual revenue exceeds $12 million. Since its creation, Etsy has successfully raised $30 million in venture capital. Investors estimate the company's current value has reached $100 million.
Maria, former CEO of Etsy. Thomas said: "As consumers, whether buying gifts for themselves or for others, they hope to contain their deep affection. For Etsy, these handmade products not only contain emotions, but consumers can also communicate directly with the craftsmen and understand them. The stories behind them make people prefer handmade products.” Perhaps, investors identify the unique core product positioning of the Etsy website.
At a board meeting in the early stages, Carlin excitedly approached investor Fred, a shareholder of Union Square. As Wilson listed the many trendy apps he wanted to add to the site, Wilson stood up, interrupted, and crossed items off his list. In his view, Etsy just needs to focus on one core.
The core is "handwork". When stores are filled with the same products produced on various assembly lines, knitting a different sweater, making a piece of candy or just drawing a card has become a precious gift. The unique feeling also makes the users of the website obviously younger. According to relevant statistics, the average age of Etsy website store owners is 35 years old, and that of customers is 32 years old. 95% of them are women, and most of them are part-time housewives or college students.
Etsy embodies total individuality. Customers can not only buy handmade products they like, but also communicate with the store owner whether they can make their favorite colors or styles according to their own ideas. They can also contact the site's legal counsel directly if they find that their merchandise violates the site's overriding rule that it must be handmade.
What makes Etsy successful?
"We don't necessarily need $100,000 to buy good products." Carlin said that the Etsy website offers hundreds of thousands of art works and handicrafts, many of which cost less than $100 each. “Our goal is to enable people to make a living from creation, but we pay more attention to the function of art: to surround you with the works you want to see, and to appreciate and experience them in your daily life, knowing that the artists you are supporting are valuable. Awesome.”
Gibran had been selling her hand-knitted scarves and charms on Etsy for more than a year. In November 2008, she quit her job at a copy center in Atlanta to turn her hobby of hand-knitting into a job and realize the goal of running a one-woman business. The annual turnover of the knitwear store reaches US$140,000, which is more than the salary at work.
"I get up at 8 o'clock every day, drink a cup of coffee or tea, and then knit without stopping." Gibran said that she signed a cooperation agreement with an urban clothing supplier. "I sit on a chair like an old lady and open the Podcasts, watching old Hitchcock movies, and knitting for 13 hours a day. “Moreover, after knitting for such a long time, she often has to design new styles or communicate with an average of more than 50 customers a day via email. Talk business.
Gibran said Etsy charges $0.20 for each item she uploads, which lasts four months, and a 3.5% commission on each item sold. Etsy allows her to check the number of clicks and views customers have had on a product. “That way, we can see which models and colors are getting the most views, which can help optimize our production lines.” Sometimes, Gibran will spend $7 to place a product prominently on Etsy’s site for a day. They usually sell out within minutes.
Although no one has counted how many people make a living from Etsy online stores, this magazine has reported on Japanese Tsumami flower hairpin designer Kuniko Kanawa (see "Flowers on Updos" in this magazine in 2009.4), paper creative expert Francesca Vitali (see this magazine (2009.5 "Paper Elf"), all use Etsy as a platform to spread the beauty of handicrafts.
When you log in to the Etsy website, you will feel that the entire page is "simple but not simple". It is said to be simple because the entire page is clearly polarized. On the left is a series of navigation options, and on the right is recommended creative product pictures, which are clear at a glance; it is said to be not simple because this website has set up many special product display modes. "Color" allows you to select your favorite products by color: "Time Machine" is like flying product pictures from distant space. You can click to enlarge and move the position at will. If you don't like it, you can move it as you like. "Lost" out of space: "Geolocator" allows you to manually move the earth, or enter a country name to find your favorite products; in addition, you can browse or find target products by category, seller's name, etc. .
On Etsy, even if you don’t buy anything, just browsing those unique handmade items quietly is enough to inspire you, surprise and move you.