[Music]
hi I'm Josh and I'm here to share with
you our results in the first quarter and
then I'll turn it over to croutha he'll
take some of your questions I want to
start by talking a little bit about GMS
or gross merchandise sales many sellers
have asked me what is gross merchandise
sales and josh why do you keep saying
it's the most important metric well
gross merchandise sales is simply the
sum of all the products that you are
sellers have sold on etsy in any given
time so it's the measure of your success
selling on Etsy and your success is our
success so that's why I've said that
gross merchandise sales is the single
most important thing for us to be
measuring and improving at Etsy I do
want to make a distinction that GM s is
different than revenue revenue is the
share of sales that Etsy takes so GM s
is really about your success and in the
first quarter GM s was very very strong
for Etsy and for our sellers in fact we
did about eight hundred and sixty
million dollars of sales of gross
merchandise sales on Etsy in the first
quarter that's a big number and it's
hard to wrap your head around so to put
that in perspective that's like having
every single person in America spend
about two dollars and 50 cents on Etsy
even better it grew quickly we had about
a hundred and forty two million dollars
more sales in the first quarter of this
year than we did at the same time last
year or about a twenty percent growth
rate looking at the slide you'll see
that not only are we big and growing
really nicely but we're growing faster
and faster and faster and that is very
exciting for all of us so why are sales
growing faster on Etsy well two things
are going particularly well visits and
conversion rate let's start with visits
did you know that there are more than 1
billion visits on Etsy in any given
quarter and in the first quarter visits
grew 13% versus the same period one
year ago and that's a result of the
investments we've been making in driving
more traffic and driving more awareness
of Etsy conversion rate is the measure
of how many visits convert to become
purchases and we've been investing there
a lot as well to make sure that people
can find products they love and when
they find products they love they're
actually feel comfort peace of mind and
ease in going ahead and making the
purchase we call that conversion rate
and we've made strong progress there as
well the combination of the progress
we've made driving visit growth and the
improvements we've made converting those
visits to purchases are resulting in
almost 20 percent growth rate in your
sales which we feel great about and we
hope you do as well now let's turn it
over to Crewe thie to take your
questions hi everyone i'm kurt the-- the
GM of our seller services team and i'm
here to answer some questions from our
seller community today today's questions
come from one of our rockstar teams the
etsy melbourne street team team leader
danielle from shop racks are helped us
collect these questions so to Danielle
and all of our awesome team captains and
leaders out there thank you so much for
all of your work in leadership what tips
do you have for stores to get featured
in Etsy emails and promos our
merchandising team has put together a
great guide full of tips for you that
will link to at the end of this video
but two tips that I'll share now our
first great product photography is key
think about editorial style photography
the kind of things that you would see in
magazines or blogs we're looking for
photos that will make a great first
impression and capture by your interest
second is tell your story we know that
what makes Etsy special is the stories
behind our sellers and our shops and the
best way to get that story across is by
filling out a really great about section
on your Etsy shop I've heard complaints
from sellers that they no longer have
access to buyers email addresses can you
please explain why some couriers still
require email addresses to ship parcels
we take data privacy very seriously here
at Etsy and so we only want to share
buyer information with you that you need
to run your shops and fulfill orders
because we have an internal tool called
convos
that's designed to help you communicate
with buyers most sellers don't actually
need access to buy or email addresses
that said we've gotten great feedback
from many of you that you still rely on
buyers email addresses to fulfill orders
particularly due to some limitations of
our convos tool so we've taken that
feedback into account and we won't be
removing by our email addresses until
we've made some improvements to the tool
to address those concerns when can we
see a partnership between Etsy and
Australia Post for our Australian stores
we know that making shipping easier and
more affordable is incredibly important
for your businesses so expanding our
shipping partnerships is a priority for
us especially internationally we're
working on shipping partnerships around
the world and are excited to share that
we're planning to roll out in Australia
and the UK later this year please get in
touch if you or your team have questions
that you want to see answered in a
future video and take a minute to fill
out the feedback survey at the end of
this video