Case 9: Etsy: A Marketplace and a Community
1. What is Etsy’s business model and revenue model? Etsy’s business model is strictly a virtual merchant. Similar to Amazon, Etsy is a intermediary marketplace that provide artists a place to sell their handmade products. Their site give seller personal storefronts where they list their goods; most of it which contains art and craft supplies, clothing, jewelry, edibles, bath and beauty products, and toys. Etsy is generating revenue through applying a “fee of $0.02 plus a sales commission of 3.5% of each item”.
2. How does Etsy’s Brooklyn headquarters depicted in the video reflect the culture and values of the company? The Brooklyn headquarters is an excellent example depicting the culture and values of the company. As Sarah Starpoli stated in the video, Etsy whole purpose is to help get the customer connected with the seller, to demonstrate that, the whole office is decorated with handcraft goods. The items in office can contributed by employees’ ideas and work, and also from other artists. The Brooklyn office also has “Etsy Labs”, where employees can experiment with handmade products themselves.
3. How important is “community” at Etsy? Visit Etsy’s Web site and describe all of its community-building features Community is very important to Etsy, as described by Sarah Starpoli. Its Etsy Labs are also open on Monday for craft night, where they are also open to the public. Furthermore, Etsy is now “providing social media networking functions on their page, allowing users to make friends with other Etsy members and keep track of their friends’ favorite shops and purchases”….
Video Case 9
1. What is Etsy’s business model and revenue model? Etsy is a customer to customer e commerce site that utilizes a peer production revenue model
2. How does Etsy’s Brooklyn headquarters depicted in the video reflect the culture and values of the company? Etsy’s Brooklyn headquarter has a very comfortable and homey feel. The majority of items found in the office are hand crafted much like the items you would find on the website itself. It shows that the company really believes in the idea and the value of the homemade items they are selling on their website.
3. How important is “community” at Etsy? Visit Etsy’s Web site and describe its community-building Features. Community is an extremely important Factor to Etsy. Not only does it allow For new ideas and iniTaTves, but it aims to bring seller and customers closer together. ±he site itselF Features a blog, a “Featured seller” oF the day, and special “community” secTon. It allows people to share ideas and even meet people with common interest to allow them to collaborate
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