Key points :
- About 87% of sellers of Etsy are women
- Etsy has around 35 million customers around the globe
- Since 2018 Etsy India listings increased by 135%
Etsy entered India somewhere in June 2018 and since then it’s been booming. As we all know Etsy is an eCommerce marketplace whose merchant base is made up of Women Sellers. For those who are unaware of the marketplace – Etsy is entirely dedicated for handmade and handcrafted products and goods. MD of Etsy India, Mr. Himanshu Wardhan says, India has a fast-growing eCommerce market and since Etsy got opened in India, the company has seen a remarkable increase in the number of sellers.
Developmnet of Esty on women sellers :
Himanshu Wardhan also added that India has a pool of artist and vibrant handicraft industry, which makes up a large portion of the MSME sector. He revealed that under the banner of “Etsy Collective” they are doing workshops throughout India. In this workshop, Etsy engages with sellers and buyers to set up their line of business and help through every stage of their online selling journey.
The focus of Etsy India is just not to help the sellers to set up the store. They want to create a unique selling point where Etsy would be creating a story of the makers. For this Esty has appointed sales executives in seven states in India, who will meet the sellers and help them set up the store.To further incentivize the Etsy sellers, Himanshu Wardhan said that for all the services mentioned above we won’t take any charges and would also offer 20 free listings on its platform for four months.
Etsy focusses to increase the Women Sellers Base :
What makes Etsy different from other marketplaces? Approximately 87% of the seller base consists of women. And in a country like India, where women make a very small proportion of the total workforce when we look into the Etsy website seller list, the number is very surprising.
“Etsy Collective” Workshop is receiving an overwhelming response and maximum participation of women as compared to men. Wardhan also adds the products that do well in this eCommerce platform are home décor, jewelry, and apparels.Etsy has also one more strict criterion that they don’t allow resellers and traders, because of this a lot of traders and businessmen got eliminated.
Etsy’s India Opportunity on Women Sellers :
The marketplace is expected to fuel to the next level and is expected to reach $200 Bn value by 2019. According to the Retailers Association of India (RAI) and Deloitte India report, Etsy is projected to grow to $1.2 Tn by 2021.
As of now 60% of the buyers of Etsy shop only once a year on Etsy platform. Etsy is trying to broaden its customer base in India so that it gets more repeat orders and signed-up users. In the near future, Etsy will offer diverse product catalogue. The main aspect that makes Etsy stand out from other eCommerce website is the power of women and the unique products and services they offer.
Etsy has categorized sellers into three brackets:
- Professional artists and designers with an existing business online or offline.
- Hobbyists, Homemakers and enthusiasts
- Traditional artisans practicing regional art forms.
The workshop has been designed for the first two categories while to set up the skilled workshop for the third category discussions are going on with the state government. People who are interested in entering into the third bracket will be provided the workshop if Etsy gets permission.In the current situation, Etsy is working hard to redefine the eCommerce so that it can sustain for years to come.