It appears that the vintage and handmade goods online marketplace is alive and well as Etsy’s most recent report secured its place as one of the top e-commerce websites for artisans. Metrics from the Q2 2016 report revealed that Etsy’s total revenue reached over $85 million, exceeding analysts’ forecasts of $80.6 million. This revenue, in […]
It appears that the vintage and handmade goods online marketplace is alive and well as Etsy’s most recent report secured its place as one of the top e-commerce websites for artisans.
Metrics from the Q2 2016 report revealed that Etsy’s total revenue reached over $85 million, exceeding analysts’ forecasts of $80.6 million. This revenue, in fact, translates to a 39% year-over-year growth and the company opened up 94% from its indicated price. In other words, Etsy and its online merchants are thriving.
Etsy’s second quarter success isn’t likely to hit a plateau any time soon, particularly since the company announced on Friday that it has begun to accept Apple Pay through both mobile and desktop devices. Previously, Etsy accepted this type of “quick-pay” on their iOS app, but did not have a system in place to accept Apple Pay through their desktop website. Now, customers will be able to purchase items using the Safari web browser on any Mac or mobile iOS device.
Apple Pay is a wildly convenient payment method that was previously limited to purchases authorized via Touch ID on the iPhone. Ever since Apple Pay hit the web with the introduction of iOS 10 and macOS Sierra, numerous websites and payment providers have implemented the feature.
“Just as it does in Etsy’s iOS app, Apple Pay enables buyers to complete their purchases quickly without needing to add their billing or shipping information at checkout. And as with all other Apply Pay transactions, Apple Pay transactions on the web are encrypted using the mobile wallet on the buyer’s device,” said the website.
When a customer checks out with Apple Pay from a desktop computer, the purchase is confirmed through a connection to the user’s iPhone or Apple Watch. The user will still authorize the purchase by using the Touch ID on the phone or mobile device.
This feature is rolling out just in time for the influx of holiday shoppers, many of whom are likely to make the majority of their purchases online. E-commerce grows every year as new technologies make online shopping easier and more convenient. Experts say that global online sales actually generate a total of $1.2 million every 30 seconds, $269,683 of which come in through mobile devices like the iPhone, iPad, or Apple Watch.
For consumers looking to make socially and economically mindful purchases, note that Etsy’s sellers are independent crafters that make every item by hand. Money spent on Etsy, therefore, goes towards small businesses and entrepreneurs.
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