The E-commerce market is tricky. This is the industry with unlimited opportunities and the countless number of hidden pitfalls at the same time. The biggest challenge is to break into it successfully. “Why so?”, you may ask. Intense competition is the primary reason.
If you are an owner of a well-established business or a startup with high ambitions, you are already aware of what challenges wait for you on your path. Reaching the desired position won’t save you from the eCommerce battle as well: giants like eBay, Amazon, and Etsy suffer from a high number of competitors, too.
Today, we are going to take a closer look at Etsy’s success, and it’s the most powerful competitors. If you are a seller or a manufacturer, you will get reliable information about Etsy’s alternatives you can make a profit at. If you are an entrepreneur with a strong willingness to launch a website like Etsy, this full article will provide you with the following things:
- precise statistics;
- basic information about several high-powered eCommerce businesses;
- enough inspiration to launch your own website like Etsy and get a tasty piece of the pie.
What is Etsy?
Some of our readers may wonder why we pay so much attention to a platform like Etsy. This chapter is for you.
Etsy is a huge eCommerce marketplace for trading vintage and handmade goods. Here, you can find products like clothing, jewelry, home décor and works of art, etc. The focus is on items that are at least 20 years old. Etsy’s founders organize open craft fairs and attract more and more users annually.
Let’s have a quick look at important numbers:
- Etsy was born in 2005;
- In 2018, the number of active buyers reached almost 40 million, which is twice as much as in 2014;
- There are 60 million products listed on this online marketplace;
- Its net income was $77.5 million in 2018;
- Almost 34 million users have installed the Etsy mobile app.
Talking about this marketplace, we would like to mention how it was called by one of the New York Times writes: “a grandma’s basement in cyberspace”. Sounds lovely, isn’t it? If only our grandmas knew how much profit could be made out of their vintage trinkets, they could have been quite surprised. What is crucial, with a platform like Etsy, you have a chance to grow a viable business, too.
Top Etsy’s competitors to be aware of
Considering the tendency in Etsy’s statistics and facts, it is hard to say that the company suffers from intense competition. However, there is a big number of similar marketplaces Etsy has to share its revenue with. Let’s discover them.
In 2016, a business research company named top 3 Etsy’s rivals in a market:
Its success was inevitable. Due to the enormous popularity of Amazon marketplace, Amazon Handmade was meant to join the list of leasers in handmade products sales, too. Here, a buyer can find everything from unique kitchen furniture to a lovely vintage wedding dress. Intuitive UI/UX design and an informative blog are a few more things we like on this platform.
Craiglist is another name on our list. Although it is not focused on selling handmade items only, it makes a huge difference in both the US and the global market. Here, job postings, real estate items, different services, and products are available for rent or sale.
Good old great eBay needs to be mentioned, too. It belongs to the top 10 largest digital companies worldwide. Its net revenue reached almost $11 billion in 2018. Here, a buyer can find a variety of products for sale or join one of the big online auctions. It is all for free: a website charges only sellers.
Together with Clockwise Software team, we have analyzed a situation in the eCommerce market and extended the list of famous competitors:
Bonanza is an American eCommerce company with a website where you can find “everything but the ordinary”. Famous brands and budget apparel, furniture and cosmetics as well as jewelry, books, and many other categories are listed here. Each seller can try it for free with a special Free Trial option.
This is a nice digital space for creative entrepreneurs and artists. Since 2009, the platform allows its users to synchronize all the sales channels and manage them from one place. With useful features like unlimited products posting, customization, fast downloads, etc. it has attracted the attention of numerous users worldwide.
Looking for more Australian handmade items? This is the website you need to visit! Here, exclusive products are available. Each posted product is a work of art; the prices are quite reasonable as well as the Made It fee is. With more than 120,000 registered users, Made It keeps on improving its functionality and growing a great company.
This is a place for lovely unique handmade gifts. iCraft founders focus on artists’ and crafters’ products only; they help creative people to showcase their works and make a profit on items you will not find on any similar website. This website is a great Canadian alternative to the Etsy online marketplace.
For more than 10 years, ArtFire satisfies its buyers with handmade accessories and jewelry, clothing, home décor, and many other lovely goods. More than 255,000 visitors come to this marketplace monthly.
Since 2006, Redbuddle founders attracted more than $56 million of investments. Convenient categories and filters help to find whatever you want on this website: more than 70,000 of creative entrepreneurs post their masterpieces here, so it is always easy to find what you need on the Redbuddle web pages.
Etsy is one of the eCommerce leaders that provide great opportunities for both buyers and sellers worldwide. However, there is still enough space for other businesses to grow in the eCommerce sphere. Next time, looking for inspiration or a nice website to post you exclusive products on, consider the following options:
- Amazon Handmade;