Top 3 Tech Shares That Can Make You Rich in March and After - Etsy

 

2. Etsy: Giant e-commerce step for the little guy

While e-commerce platforms Amazon and Shopify made headlines last year, both were surpassed by the little engine Etsy (NASDAQ: ETSY). Winds have driven digital retailing by hand-made products as well as retro and classic products. These trends fall into Etsy's comfort zone.

The company has turned the once niche markets into a lucrative venture!

Etsy closed the year 2020 with a high note, continuing the consecutive triple-digit increase in gross merchandise sales. It resulted in 2020 revenue growth 111 percent over the previous year and a net income growing 264 percent. This is followed by a market revenue jump of 120 percent and an 88 percent increase in service revenues. The company still takes advantage of the pandemic winds that slowed as the year progressed: Approximately 4 percent of gross merchandise sales came from masks. Active vendors increased 62 percent during the year, supporting 77 percent growth in the customer base.

The company continues to expand its network!

Etsy's strategic product developments and disciplined approach to marketing have resulted in significant improvements in matters such as lifetime value to customers, importance to user engagement, customer retention and frequency of purchases. Accordingly, it has grown by 160 percent in the number of customers who buy continuously. In 2019, Etsy predicts that its total addressable market of $ 249 billion will rise to $ 437 billion by 2023. There has been a huge acceleration in e-commerce last year, so these forecasts are likely to be revised. Given that Etsy sold $ 10 billion of merchandise in 2020, the opportunities are enormous.   Top 3 Tech Shares That Can Make You Rich in March and After - Etsy Source: https://www.fool.com/ You may also be interested in this:

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