Walmart Embraces Amazon MCF: A New Era of Cross-Platform Fulfillment for eCommerce
Walmart Embraces Amazon MCF: A New Era of Cross-Platform Fulfillment for eCommerce
2020, has got an unimagined situation, and Covid 19 has reshaped the growth of e-commerce. While the world is still struggling with the aftermath of the pandemic outbreak, online marketplaces have been working as a helping aid for their safety gears to their homely needs and even necessities. Etsy provides you the platform to convert your creativity into a business and meet the buyers for your products. The Etsy Q3 result has announced between the most exciting festive season; Etsy’s performance has outperformed the market yet this year again, unlike any marketplace has ever witnessed before.
Etsy has delivered Powerful results during the 3rd quarter, which was announced on 30th September 2020. As per the Consolidated report, GMS Revenue has increased by 119% and 128%, respectively. Etsy has succeeded in retaining the buyers and garnered many new buyers to its platform. Welcoming and supporting small and medium businesses during this challenging time has added feathers to the cap.
As and when the pandemic situation arrived, every eye turned towards the Retailers. They managed the customer’s need as people shifted from brick and mortar shops to online shops. The online sellers on Etsy faced lots of issues at the initial phase, like:
What made Etsy win the situation is strategies used to boost sales and retain the sellers and buyers. Spending has remained firm on Etsy as consumers continue to avoid physical stores over safety concerns, increasing its 146% hike in gross merchandise sales in the second quarter.
Some crucial steps were taken to help the sellers particularly vulnerable to the covid-19 downturn. The sum of $5 million has allotted for the marketing spent over a period of a month to drive more traffic to the site. There came the inception of the Off-site Ads, which made it possible for at least 2 million Etsy’s Sellers to advertise on multiple social media and search engine platforms without any upfront payments on Bing, Google, Pinterest, Instagram, and Facebook.
Etsy also made an online support team available to give whatever aid they can for managing shipping and delivery. Etsy’s Free shipping guarantee on orders enables an Increase in Sales and motivates shoppers to shop in bulk during these months.
Ever since the Pandemic Impact on Etsy Sellers, they started creating different alternatives from their supplies. Most of the sellers were seen manufacturing and selling face masks. From simple masks to decorative and customized masks. Buyers hush for the masks was observed from Q2 to Q3. The mask’s sales declined from July 2020, with $123 Million to August 2020, with $85 Million and September 2020, with $56 Million. But the craze and need for the item have not yet gone. The number of masks sold in Q3, 2020, is $264 Million in GMS.
As per Josh Silverman, the CEO of Etsy, At the beginning of the pandemic, the Mask’s demand touched the sky overnight on Etsy. They called the sellers and asked them if they had sewing machines and could start making masks and sell on the marketplace. We were Starting from 20,000 sellers making masks to 60,000 sellers selling masks. The “consumer behavior” around the world changed drastically as masks and sanitizers became the topmost priority. A lot of buyers shifted to Etsy. People were buying other things on Etsy that they couldn’t get anywhere else, like garden plants and seeds, sewing materials, and kitchen supplies.
Etsy’s top category of homeware and home furnishing was up +126% compared to a year before. The Craft and supplies sales jumped +114%, and jewelry and accessory sales were also up +61%.
The festive season already started, buyers are more into the celebration and shopping mode. This year they are more likely to celebrate at their home and shop online. Etsy has got the golden opportunity to boost sales this festive season.
As per the situation, it is predicted that the most sold items would be
The festive season has already started, sellers are ready with promotions and optimization of products on the Etsy Marketplace. Buyers are decorating homes to have festive vibes. They are more likely to have all kitchen and dining equipment and paintings for a home to improve their social life. Who does not want to dress up well when you have celebration time and guests around? Shoppers will love to grab the opportunity to buy clothes and jewelry. The Above mentioned Items are and will be much in demand till the coming months at the starting of 2021. Etsy has planned to increase sales more during the festive season.
Etsy does not want its buyers to compromise with the situation in the Festive season; this time, Etsy sellers are more into creativity and meet demand. It provides you with many creative items such as designed mugs, masks, etc. And items by using which you may create something in your space. This is something interesting, creative, and fun at the festival. Shoppers are more intended to search products for gifting purposes; Etsy offers gift wraps with notes to delight. Apart from this, it provides various offers and discounts to help sellers improve their sales, as the festive season will bring a flood of buyers.
The year does suffer a bad start but opened new possibilities for online sellers to grow even more significant. As shoppers have started preparing early to avoid any delay in deliveries, the festive season is an opportunity for you to sell online and deal with numerous buyers throughout the year.
Etsy has also partnered with big names like Samsung and Klarna to transform the user experience. Quarter 3 turned out to be an excellent success for Etsy, and there is still more to come in Q4 and the much-awaited in 2021. Grow your creative business on Etsy- the seamless way – with us.
Walmart Embraces Amazon MCF: A New Era of Cross-Platform Fulfillment for eCommerce
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