Etsy to invest more than $600 million in marketing for 2022 holiday sales season

According to reports, Etsy CEO Josh Silverman said that in order to prepare for the upcoming holiday sales season, more than $600 million will be invested in marketing. This year, $25 million will be invested in the newly launched Etsy Purchase Protection Program, and new tools will be launched to optimize Etsy for Etsy sellers.

In the second quarter of 2022, Etsy sellers generated about $3 billion in sales, compared with $1.1 billion in the second quarter of 2019. Looking ahead to the third quarter, Silverman predicts that Etsy will have "very strong sales," but also faces challenges from retail competitors like Walmart and Target that are discounting before the holidays to grab sales opportunities.

But Etsy sellers can offer more and higher discounts to attract more consumers. In order to help sellers seize the market, Etsy has launched more tools to let sellers decide where and to whom they want to offer discounts. At the same time, Etsy sellers also have the opportunity to increase the sales price of their products and set prices freely.

It is understood that as of the close of September 15, Etsy's stock price has fallen by about 46%. The company's stock price hit an all-time high of about $274 per share in November 2021. It is reported that since the outbreak of the epidemic, sellers' sales have increased by 23% and the number of sellers has increased by 2.5 million.

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