Etsy enhanced a feature that helps drive repeat buyers to individual sellers’ shops, and it offered tips on how sellers could take advantage of the feature.
The “Etsy Updates feed” notifies shoppers of updates to sellers with whom they’ve interacted (through either favoriting one of their items or by following their shop). “For example,” Etsy explained, “if you put an item on sale or add new inventory, those buyers will get a notification in their Updates feed about this news.”
Visitors to Etsy can view their Updates feed by clicking on the bell icon in the navigation bar – if there are new notifications, it will display a number next to the icon to draw attention to it. Etsy said it also encourages buyers to visit their Updates feed through email marketing and push notifications.
In a post on the seller announcement board on Wednesday, Etsy wrote: “While the Updates feed isn’t a new feature, we’ve spent the last year making improvements to make it easier for buyers to get notified about your shop and encourage them to revisit your items and make a purchase. In fact, we’ve seen that the Updates feature can help bring buyers back to shop from you again!”
It encouraged sellers to send a message to buyers after they’ve made a purchase to encourage them to follow their shop. “You can use the Snippets feature in Message as a quick and easy way to send buyers a Message after they’ve made a purchase,” it advised in the announcement post.
In order to appear in the feed, sellers can do one of several things:
- Run a sale
- Send a coupon
- Add new items
- Restock items
The call to action comes as Etsy works to attract new buyers and reactivate lapsed buyers. Chief Financial Officer Rachel Glaser told analysts that Etsy had added 6.4 million new buyers in the second quarter and reactivated 5 million lapsed buyers during the same period.
She provided additional color, reporting that “recently lapsed” buyers – those who made their last purchase between 13 and 24 months ago, represented about 40% of the lapsed buyer total.
Reactivating lapsed buyers are a big opportunity, CEO Josh Silverman added during the second-quarter earnings call.
Glaser also disclosed Etsy had ended the quarter with nearly 8 million habitual buyers, down 2% sequentially, and down 1% versus last year. They accounted for 46% of Etsy’s GMS (sales).
Sellers on any marketplace know the value of repeat buyers, but are generally hamstrung from reaching out to them directly.
What do you think of Etsy’s priority in getting buyers to return and purchase more frequently – and could they provide sellers with additional tools to help it do so?
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