Etsy is not just a single marketplace, but a collection of marketplaces that cater to different niches and communities. By acquiring and integrating new marketplaces, such as Reverb for musical instruments and Depop for fashion, Etsy is pursuing a growth strategy that leverages its core competencies and network effects. In this article, digital strategy consultant Jeff Towson analyzes the rationale and challenges of Etsy’s marketplace expansion strategy.
Etsy is not just an online marketplace for handmade and vintage goods. It is also a platform that enables sellers and buyers to connect, create, and collaborate. In this article, we will explore how Etsy is pursuing differentiation and engagement as its core strategic drivers. Digital strategy consultant Jeffrey Towson analyzes its new innovation initiatives.
Etsy is a great example of specialty e-commerce, a type of online retail that focuses on a specific niche, customer segment, or product category. Specialty e-commerce platforms can create value by offering a curated selection, a distinctive user experience, and a loyal community of buyers and sellers. However, digital strategy consultant Jeffrey Towson details how Etsy is facing increasing competition, changing consumer preferences, and new innovation challenges.
TikTok Shop is a new feature that allows users to buy and sell products directly on the app. It is a major challenge for Etsy, the leading online marketplace for handmade and vintage goods. TikTok Shop has several advantages over Etsy, such as its massive and engaged user base, its personalized and addictive content, and its strong social network effects.
In this podcast, Jeffrey Towson discusses how specialty ecommerce companies can thrive against the giants. He identifies five key factors for success: differentiated user experience, competitive logistics, strong competitive advantage, clear path to operational cash flow, and avoidance of markets and situations that are attractive or strategic for the major ecommerce companies. He argues that specialty ecommerce companies can succeed by focusing on specific niches and providing a superior user experience.
Given the political shake-up in China tech, I’ve been shifting my focus to smaller companies that: Are not of a size that puts them on the radar for anti-trust regulation. Will benefit from government constraints on the giants. So I’ve recently written about NetEase, the #2 player in gaming in China. Is NetEase a Buying […]