Etsy Vice President: Staying Strong In The Growing E-Commerce Sphere [PSFK 2013]
In the run up to PSFK CONFERENCE 2013, Matt Stinchcomb discusses the online marketplace and how he is working to stay abreast of new developments as it grows.
As part of the run-up to PSFK CONFERENCE 2013 in New York this April, PSFK will be publishing a series of short interviews with speakers to give a taste of what will be discussed in this meeting of creative minds. Matt Stinchcomb is Vice President at Etsy, and will be filling us on on what’s happened since he presented at the Good Ideas Salon in 2009. He spoke to PSFK about the e-commerce space, and what Etsy is doing to maintain its position as the industry changes.
You will be giving an update on Etsy at this year’s conference, which you spoke about in 2009-. How is it doing?
Things are going quite well. We have grown to nearly 400 employees, have 25 million registered members, and 850,000 small businesses who sold about $900 million worth of goods on Etsy last year. We also became certified B corporation last year, and are very proud of the steps we have taken to become a mission/values-driven business.
Have there been any changes to the company and the online e-commerce sphere in general that you have observed?
Organizationally we are vastly different and more proficient now. Our whole technical infrastructure has been totally rebuilt too. As a company we are much more data driven, and able to execute, adapt, and iterate far more quickly.
How has Etsy managed to maintain its relevance and unique brand in an increasingly crowded marketplace?
Keeping the focus on the people behind the products. They are the most important part of Etsy,
Where do you see both the company and the industry space going in the near future?
I feel like it has become a totally different space in general- The online/offline distinction is blurring. A third of our traffic is from mobile devices, and that is growing incredibly fast. I also believe that days of going to an individual e-commerce destination to shop are on the wane. Soon you will encounter products in more distributed, lateral ways. I see local, services, and digital goods being very important in the future. I also see us helping independent, creative businesses explore new methods of production and shoppers discover new patterns of consumption.