How e-commerce retailers stacked up in Q3 – Retail Dive
Summary
E-commerce companies benefited at the onset of the pandemic as consumers redirected spending from stores to online in an attempt to limit the spread of the coronavirus.
But as vaccines have helped push consumers to shop in person again and shift spending to other areas outside of retail, can online retailers maintain the gains they made last year?
We took a look at how Q3 played out for digitally native retailers, many of which are reporting earnings…….
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E-commerce companies benefited at the onset of the pandemic as consumers redirected spending from stores to online in an attempt to limit the spread of the coronavirus.
But as vaccines have helped push consumers to shop in person again and shift spending to other areas outside of retail, can online retailers maintain the gains they made last year?
We took a look at how Q3 played out for digitally native retailers, many of which are reporting earnings for the first time since making their public market debuts.
Etsy
Revenue: $532.4 million | YoY: +17.9%
Active customers: 96 million | YoY: +37.8%
Operating income: $83.7 million | YoY: -29.1%
Net income: $89.9 million | YoY: -2%
Etsy benefited in the early days of the pandemic as many of its makers began producing and selling masks — an item in high demand. The marketplace has maintained its sales momentum, even lapping last year’s sales numbers by double digits. Etsy marketplace gross merchandise sales increased 12.4% from last year to $2.7 billion; excluding face masks, it grew 23.7%.
The company grew its active seller base to 7.5 million, up 102.7% from the year-ago period.
“Our excellent third quarter results further reflect that we’re moving the needle on frequency, and that many of the millions of buyers who found, or re-found Etsy during the pandemic are sticking with us, and performing even better than historical cohorts,” CEO Josh Silverman said in a statement.
Wayfair
Revenue: $3.1 billion | YoY: -18.7%
Active customers: 29.2 million | YoY: +1.5%
Operating loss: $69.8 million
Net loss: $78 million
Citing shifts in consumer spending — from online to brick …….
Source: https://www.retaildive.com/news/how-e-commerce-retailers-stacked-up-in-q3/610089/