3 Metrics That Prove Etsy's Moat Is Growing

Motley Fool2021-08-16

Etsy (NASDAQ:ETSY), the online marketplace for vintage and handmade goods, reported second-quarter results on Aug. 4 that exceeded Wall Street's estimates. But the stock dipped as much as 13% ...

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精彩评论

Jchptan
2021-08-16
Jchptan
Hi
MarcuzK
2021-08-16
MarcuzK
Comment like ty
- Jameslim29:
  Nice
seanisright
2021-08-16
seanisright
lets go etsy!
- MarcuzK:
  same
- JerryChiang:
  to the moon 🌙
ZOANMAN
2021-08-16
ZOANMAN
Like me

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But the stock dipped as much as 13% ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/15/3-metrics-that-prove-etsys-moat-is-growing/\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETSY","symbol_name":"Etsy, Inc.","start_time":0,"source_url":"https://www.fool.com/investing/2021/08/15/3-metrics-that-prove-etsys-moat-is-growing/","article_id":"2159210223","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2159210223","pubTimestamp":1629079662,"columns":[],"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"Shareholders should be focusing on these key data points to gauge the health of the business.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETSY":"Etsy, Inc."},"translate_title":"证明Etsy的护城河正在扩大的3个指标","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETSY":0.9},"content_text":"Etsy (NASDAQ:ETSY), the online marketplace for vintage and handmade goods, reported second-quarter results on Aug. 4 that exceeded Wall Street's estimates. But the stock dipped as much as 13% following the news as investors weren't pleased with management's sales forecast for the current quarter. \nIt's only natural that Etsy, like many other e-commerce businesses, will experience a slowdown as economies reopen and consumers resume normal spending patterns outside of a global pandemic. But rest assured, if we look past the market's immediate reaction, we'll find a company that is doing just fine. \nHere are three key metrics showing that Etsy's moat is only growing larger. \nImage source: Getty Images.\n1. Higher take rate\nDuring the most recent quarter, Etsy's take rate, the portion of gross merchandise sales (GMS) the company keeps as revenue, was 17.4%. This increased slightly from the prior-year period, and it highlights how much value the company is able to extract from the transactions it facilitates.\nViewing this metric as Etsy's pricing power is an apt comparison. Over time, a business that provides more value through its services than what it charges customers has the ability to raise prices. And Etsy's add-on services, like Etsy Payments and Etsy Ads, help the sellers on its platform by allowing them to run their small businesses. \n\"We look at take rate improvements as a value exchange, so where we can offer more services that [...] benefit the seller, in exchange for some fee increase, we are open to doing those things,\" CFO Rachel Glaser said on the earnings call. \nThe take rate was 15.9% during the second quarter of 2020, a period when revenue skyrocketed 137%, and the company was riding a pandemic surge. The fact that the most recent quarter's take rate exceeded that extremely tough comparison is extraordinary. \n2. More users\nAs of June 30, Etsy counted 90.5 million active buyers on its platform, a 50% jump from the same period last year. And it had 5.2 million active sellers, up 67%. Having more users on the platform makes Etsy's moat stronger thanks to the corresponding network effect.\nThe number of habitual buyers, those who shopped with Etsy at least six times and spent at least $200 during the trailing-12-month period, more than doubled in the quarter, and these are by far the company's most profitable customers.\nEtsy has thrived giving buyers the opportunity to support entrepreneurs who sell unique items. In a 2020 survey, 88% of Etsy shoppers agreed the site had items they can't find anywhere else. That stat alone should tell you just how valuable it can be to its users.\n3. Increasing engagement\nWhile the company has rapidly expanded its user base, buyers are also spending more on its platform. In the most recent quarter, GMS per active buyer (on a trailing-12-month basis) soared 22% from the year-ago period, a new record for Etsy. Again, it's worth mentioning just how remarkable this is, knowing the year-over-year comparison Etsy is facing. \nThe business is riding the secular shift from brick-and-mortar retail to e-commerce, so as more people use the internet for their shopping needs, Etsy stands to benefit immensely. And with core operations in just seven markets currently (U.S., U.K., Canada, Germany, Australia, France, and India), it still has a massive runway ahead of it. \nAdditionally, the recent acquisitions of Depop (a global fashion reseller) and Elo7 (a Brazilian e-commerce business) only expand the company's already huge $1.7 trillion market opportunity. They also add more opportunities for buyers and sellers to transact, all of which provide a nice tailwind for engagement to continue rising. \nThe trajectory of these three metrics demonstrates that long-term Etsy shareholders really have nothing to worry about. Even when compared to the monster performance in the second quarter last year, the business is still registering year-over-year gains, albeit at an unsurprisingly slower rate than during the pandemic. \nEtsy is a stock I own, and I believe it will continue doing well for many years to come.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":830568970,"gmtCreate":1629082005490,"gmtModify":1633687537331,"author":{"id":"3547639144615679","authorId":"3547639144615679","name":"Jchptan","avatar":"https://static.tigerbbs.com/d97f1aa10a314dfb46a4e618e4f46ac6","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3547639144615679","idStr":"3547639144615679"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830568970","repostId":2159210223,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":830514328,"gmtCreate":1629080979064,"gmtModify":1633687547459,"author":{"id":"3563243258535559","authorId":"3563243258535559","name":"MarcuzK","avatar":"https://static.tigerbbs.com/41fde116200c232379312d26e2768f6e","vip":1,"crmLevel":9,"crmLevelSwitch":0,"authorIdStr":"3563243258535559","idStr":"3563243258535559"},"htmlText":"Comment like ty","listText":"Comment like ty","text":"Comment like ty","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830514328","repostId":2159210223,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5540078,"gmtCreate":1629081168804,"gmtModify":1635150595933,"authorId":3563070726162010,"author":{"id":3563070726162010,"idStr":"3563070726162010","authorId":3563070726162010,"name":"Jameslim29","avatar":"https://static.tigerbbs.com/753b3384fa57ecc8b7314cedcb5ed66e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":830514328,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"}],"langContent":"EN"},{"id":830537156,"gmtCreate":1629080407475,"gmtModify":1633687554095,"author":{"id":"3585475029155588","authorId":"3585475029155588","name":"seanisright","avatar":"https://static.tigerbbs.com/dda21240ac9bd6280ce1f04de5c3a999","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3585475029155588","idStr":"3585475029155588"},"htmlText":"lets go etsy!","listText":"lets go etsy!","text":"lets go etsy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/830537156","repostId":2159210223,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5540047,"gmtCreate":1629080970924,"gmtModify":1635150598396,"authorId":3563243258535559,"author":{"id":3563243258535559,"idStr":"3563243258535559","authorId":3563243258535559,"name":"MarcuzK","avatar":"https://static.tigerbbs.com/41fde116200c232379312d26e2768f6e","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":830537156,"type":1,"supId":0,"prevId":0,"content":"<u>same</u>","text":"<u>same</u>","html":"<u>same</u>"},{"id":5540170,"gmtCreate":1629081663215,"gmtModify":1635150587879,"authorId":3576907825888639,"author":{"id":3576907825888639,"idStr":"3576907825888639","authorId":3576907825888639,"name":"JerryChiang","avatar":"https://static.tigerbbs.com/537811c4027e5f1664a45ab303892cb1","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":830537156,"type":1,"supId":0,"prevId":0,"content":"to the moon 🌙","text":"to the moon 🌙","html":"to the moon 🌙"}],"langContent":"EN"},{"id":830538363,"gmtCreate":1629080140552,"gmtModify":1631891918233,"author":{"id":"3578709628584618","authorId":"3578709628584618","name":"ZOANMAN","avatar":"https://static.tigerbbs.com/0bae5d3d04e43d479d915a7e1ba48e77","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3578709628584618","idStr":"3578709628584618"},"htmlText":"Like me&nbsp;","listText":"Like me&nbsp;","text":"Like me","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830538363","repostId":2159210223,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":83,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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