According to this Infographic by 'MBAOnline,' Etsy is turning artists into entrepreneurs. There is a huge surge of interest in do-it-yourself projects and products, in fact Etsy has 15 million users to its site and 690,000 members join every month.
The company made a 71% sales growth between 2010 and 2011, which is absolutely incredible. Just to put things into more perspective, there are 875,000 shops, 13 million items and close to 3 million products sold every month. Etsy is giving eBay a run for its money with the rate of growth that it has seen in only six years. Etsy is also the most pinned site on Pinterest.
It is optimal for anyone to post their creations on the Etsy site, as it costs nothing to set up a profile. However, the company does get a 3.5% cut of the sales made. Considering the amount of free exposure and the profitability, it’s totally worth it.
Entrepreneurial Artistry Graphics
The ‘MBAOnline’ Chart Shows How Etsy Creates Opportu
Trend Themes
1. Etsy Entrepreneurship - The surge of interest in DIY projects and products has turned Etsy into a platform for artists to become entrepreneurs.
2. Online Marketplaces for Handmade Products - Etsy's sales growth and profitability has shown the potential for online marketplaces to become a disruptive force in the handmade products industry.
3. Social Media and E-commerce Integration - Etsy's success on Pinterest highlights the potential for increasing sales through social media integration in e-commerce platforms.
Industry Implications
1. Online Handmade Products Marketplace - Etsy's rapid growth and profitability has established it as a major player in the online handmade products marketplace industry, with potential for new entrants to disrupt the market.
2. E-commerce and Social Media - Etsy's success in integrating with social media platforms highlights disruptive potential for e-commerce platforms and social media to merge.
3. DIY Products and Services - The surge of interest in DIY products and services presents opportunities for innovative entrepreneurs to enter the industry and disrupt established players.