With Supply Chain Woes Looming, is it Etsy's Time to Shine?
Halloween is over, so *technically we've got the green light to talk about Holiday shopping. Or so it appears on Twitter. Around 40% of shoppers began holiday shopping earlier this year vs. last year, with 22% already actively shopping at the end of September, according to data from Buy-Now-Pay-Later lender, Klarna, But this year is a different beast all-together. Supply chain fears are dominating conversations on Twitter, with many consumers concerned about product availability and inflated prices when they need it most. And while many consumers ARE returning to brick-and-mortar shopping, a high level of pandemic-induced behavior is sticking around: ~83% of consumers plan to shop online as much or more during the 2021 holiday season. All of these factors are setting up for a potentially huge Holiday season for one name in particular...ETSY. Just check out some of the major consumer shopping trends below:
Etsy admittedly bypasses many supply chain and delivery delay concerns due to the nature of the beast: mom and pop shops creating personalized, scalable orders vs. big-box retailers. In addition, ETSY is focusing on maximizing engagement where consumers increasingly shop: mobile devices. Consumer mentions of downloading Etsy's mobile app have increased +100% since 2019 and are ramping into the Holiday season.
Etsy's mobile app is currently #6 in Apple Store's free shopping section, moving up a spot from last quarter. On its last earnings call, Etsy noted 9 million app downloads year-to-date and called the app its "highest converting experience."