Skip to main content

Disclaimer

This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include but are not limited to: statements relating to our financial guidance for the first quarter 2024 and related assumptions and commentary; full year 2024 commentary; the anticipated impact of our 2024 portfolio growth initiatives; our ability to increase buyer frequency and earn more buyer consideration and market share by breaking down brand barriers and highlighting quality merchandise in a more organized and curated way, including by retaining focus on our “Vital Few,” highlighting value and improving reliability; our expectations regarding Reverb’s profitability and our subsidiaries’ ability to gain market share; our opportunity to “own” gifting and ability to achieve market share gains across our core categories; the impact of our cost-saving initiatives; our ability to generate long-term shareholder value; and our and analyst expectations regarding market conditions.

Forward-looking statements include all statements that are not historical facts. In some cases, forward-looking statements can be identified by terms such as “anticipate,” “believe,” “could,” “enable,” “estimate,” “expect,” “goal,” “intend,” “may,” “outlook,” “plan,” “potential,” “target,” “will,” or similar expressions and derivative forms and/or the negatives of those words.

Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. These risks and uncertainties include but are not limited to: (1) the level of demand for our services or products sold in our marketplaces, and our ability to support our recent growth; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) the fluctuation of our quarterly operating results; (4) our failure to meet our publicly announced guidance or other expectations; (5) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber incidents; (6) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (7) macroeconomic events that are outside of our control; (8) operational and compliance risks related to our payments systems; (9) our ability to recruit and retain employees; (10) our ability to compete effectively; (11) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (12) our ability to demonstrate progress against our environmental, social, and governance Impact strategy; (13) our efforts to expand internationally; (14) acquisitions that may prove unsuccessful or divert management attention; (15) regulation in the area of privacy and protection of user data; and (16) litigation and regulatory matters, including intellectual property claims. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and subsequent reports that we file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. We disclaim any obligation to update forward-looking statements.

Decline  |  Accept
Back to Corporate Site

Press Release Details

Investor Menu
Back to Corporate Site
View All News

Etsy Unveils Plans to Make Free Shipping a Core Part of the Shopping Experience

July 9, 2019
- Etsy to provide sellers with tools and support to make it easy for them to guarantee free shipping on orders of $35 or more to US buyers
- Items that ship for free will get priority placement in US search results
- Initiative to build buyer trust and loyalty

BROOKLYN, N.Y., July 9, 2019 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), the global two-sided marketplace for unique and creative goods, today announced plans to make free shipping a core part of the Etsy shopping experience. Etsy is providing sellers with tools and support to help them guarantee free shipping to US buyers who spend at least $35 in their shop. By making it easy for sellers to offer free shipping, Etsy will empower them to better meet buyer expectations and more effectively win customers in today's changing retail landscape.

Josh Silverman, Etsy's Chief Executive Officer, commented, "Shoppers come to Etsy to discover over 60 million special and unique items that often cannot be found anywhere else. Yet we hear that high shipping prices often deter shoppers from completing their purchases. By making free shipping the norm on Etsy, rather than the exception, we'll connect more people with items that they love. Ultimately, we believe this will help increase marketplace conversion and order value, encourage repeat visits, and drive more sales for Etsy sellers."

Sellers around the world are able to participate in this initiative. Etsy will be providing sellers globally with tools and educational resources to help them adopt a free shipping guarantee for US buyers. In addition, beginning on July 30, 2019, Etsy will give priority placement in US search results to items that ship free and to shops that guarantee US buyers free shipping on orders of $35 or more. This means that shoppers in the US will primarily see items that ship free and shops that offer free shipping on orders of $35 or more in the top and most visible rows of search. Etsy will begin actively marketing this free shipping initiative to buyers starting in September, with the goal of driving more traffic to the Etsy marketplace and sellers' shops.

Kruti Patel Goyal, Senior Vice President, Product, added, "Buyer expectations continue to evolve, and we want to help sellers adapt and thrive in an increasingly competitive retail landscape. Free shipping is now table stakes when it comes to online shopping. We realize that offering free shipping may be a big step for some of our sellers, and we will be there to support them every step of the way. We are providing numerous tools, resources, and customer support touchpoints to make it easy for them to set up a guarantee and understand how free shipping can help them reach their business goals."

According to Etsy buyer data, buyers are significantly more likely to purchase an item in their cart with free shipping compared to an item that has added shipping costs. Etsy also ran a limited-time free shipping promotion in May 2019 that led to higher order values when participating buyers purchased items that shipped for free or were eligible for free shipping. 

Given the timing of the launch, this initiative is currently expected to have modest upside to Etsy's previously announced 2019 gross merchandise sales guidance. The projected impact of this initiative will be shared when Etsy reports its second quarter 2019 financial results.

About Etsy 
Etsy, Inc. is the global two-sided marketplace for unique and creative goods. Our mission is to "Keep Commerce Human," and we're committed to using the power of business and technology to strengthen communities and empower people around the world. We connect millions of buyers and sellers from nearly every country in the world. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs. 

Etsy was founded in 2005 and is headquartered in Brooklyn, New York. 

Media Relations Contact: 
Kelly Clausen, Director, Corporate Communications press@etsy.com

Investor Relations Contact: 
Deb Wasser, Vice President, Investor Relations ir@etsy.com 

Gabriel Ratcliff, Sr. Manager, Investor Relations ir@etsy.com

Cautionary Statement Regarding Forward-Looking Statements

This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements related to our expectations regarding the impact of our free shipping initiatives on marketplace conversion, order value, increased sales, repeat visits, the businesses of our sellers, and GMS guidance, and the ability for our marketing initiatives to drive traffic to our marketplace and our sellers' shops.

Forward-looking statements include all statements that are not historical fact. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include the successful execution of our business strategy, the success of our free shipping initiative, our reputation and our business, the success of our marketing efforts, our active and engaged community of Etsy sellers and Etsy buyers, the growth and performance of our platform, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, and subsequent reports that we file with the Securities and Exchange Commission.

Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements, except as required by law.

 

Cision View original content:http://www.prnewswire.com/news-releases/etsy-unveils-plans-to-make-free-shipping-a-core-part-of-the-shopping-experience-300881110.html

SOURCE Etsy, Inc.

View All News