Etsy targets men and global shoppers amid falling e-commerce market
Silverman detailed a number of measures to maintain the company’s sales growth in this environment. For one, the company caters to a new demographic. The company estimates that only around 10% of men in the US and UK have shopped on its marketplace in the past year, compared to around 30% of women.
“When it comes to the other half or so of the world’s population, those who identify as male, that’s a huge population that we’ve only recently started to think about,” Silverman told investors.
Etsy’s poll shows no clear reason for the difference, according to Silverman. Both men and women gave similar comments when asked why they weren’t buying from the site.
“‘Etsy didn’t cross my mind,’ ‘I didn’t need the types of items they sell,’ and ‘I don’t know what Etsy offers,'” were the reasons described by Silverman. “We estimate that 35% of our new US buyers in 2021 identify as male. We’re just beginning to understand these shoppers and developing product and marketing strategies to help them understand when and why Etsy.
One such strategy has been running what Silverman called gender-neutral ads during NFL games and on Hulu.
Etsy also hopes to be more geographically diverse. The business is global, but about 90% of buyers are in the US or UK, Silverman said. Its notoriety in France, for example, is 50% lower than in the United States
And, like all e-commerce businesses, she wants people to come back to the site more often and spend more when they do. The company is investing in tools that personalize articles for viewers based on past browsing history, rather than simply based on purchases.