Etsy, an online marketplace of crafts, provides the chance to buy unique items online, often customized just for you, for a very reasonable price.
"The beauty of Etsy is that you can get something that no one else has," CEO Chad Dickerson told the hosts of CBS This Morning on Monday. Another benefit he notes: "It feels really good to support an artisan."
But behind those sometimes humble, one-of-a-kind, handmade items, is what's become quite a sizeable business. Indeed, Etsy has become a surprisingly important marketplace for a range of products from handknit mittens to high-end engagement rings.
Here are 8 facts about Etsy's growth from Monday's interview:
- 1 million artisans and craftspeople sell their goods on Etsy.
- 40 million people are registered to buy on the site.
- 26 million items are listed for sale.
- The top 3 categories of items for sale are jewelry, clothing and housewares.
- 3.5 percent of every transaction goes to Etsy
- It costs 20 cents to list your first item. "You can literally start a business with 20 cents," says Dickerson.
- Etsy sells in 200 countries and is continuing to expand
- Total gross merchandise sales totaled $1.3 billion last year