Etsy’s marketplaces connected 8.1 million active sellers with 95.5 million active buyers as of December 31, 2024. The Etsy marketplace itself accounted for 5.6 million active sellers, 89.6 million active buyers, and more than 100 million listed items. The figures below describe Etsy’s scale, commercial activity, geographic mix, related marketplaces, and trust-and-safety operations.
Contents
- Etsy marketplace size
- Sales, revenue, and profitability
- Buyers, sellers, and shopping behavior
- Geography and product mix
- Depop and Reverb statistics
- Marketplace trends across periods
- Trust, safety, and intellectual property
Etsy marketplace size
The Etsy marketplace remained a large two-sided network at the end of 2024. Etsy, Inc. and its marketplaces had 8.1 million active sellers and 95.5 million active buyers on December 31, 2024. Within Etsy’s core marketplace, the corresponding totals were 5.6 million active sellers and 89.6 million active buyers. (Etsy 2024 10-K)
Etsy also reported more than 100 million items listed for sale on its marketplace at December 31, 2024. That inventory reflects the breadth of the platform: shoppers can browse a very large selection while sellers participate in a marketplace built around individual listings rather than a single standardized catalog. (Etsy 2024 10-K)
The marketplace’s 2024 gross merchandise sales, or GMS, were $12.6 billion for Etsy, Inc. overall. The company’s top six retail categories represented approximately $9 billion of GMS, or about 87% of total 2024 GMS. (Etsy 2024 10-K)
Custom and made-to-order products were also a substantial part of activity. Approximately 30% of Etsy’s 2024 GMS came from custom or made-to-order merchandise. This is a specific measure of Etsy’s personalized-commerce orientation, rather than a claim that all listings were handmade or customized. (Etsy 2024 10-K)
Sales, revenue, and profitability
Etsy’s 2024 results show a distinction between the value of goods sold through the platform and the company’s own revenue. Total 2024 GMS was $12.6 billion, while total revenue was $2.8 billion. Revenue grew 2.2% year over year to $2.8 billion. (Etsy 2024 10-K)
The company’s 2024 revenue included $2.0 billion from the marketplace and $787.6 million from services. Marketplace revenue grew 1.2% year over year, while services revenue grew 4.9%. Gross profit was $2.0 billion, and operating expenses were $1.65 billion. Operating expenses grew 0.8% year over year. (Etsy 2024 10-K)
Etsy reported $303.3 million in 2024 net income and $781.5 million in adjusted EBITDA. Its adjusted EBITDA margin was about 28%. Operating cash flow was positive at $752.5 million in 2024. At December 31, 2024, cash and cash equivalents plus short-term investments totaled $1.0 billion. (Etsy 2024 10-K)
The following figures place the main 2024 measures side by side:
| Measure | 2024 figure | Period or basis |
|---|---|---|
| Total GMS | $12.6 billion | Full year |
| Total revenue | $2.8 billion | Full year |
| Net income | $303.3 million | Full year |
| Adjusted EBITDA | $781.5 million | Full year |
| Operating cash flow | $752.5 million | Full year |
| Cash, equivalents, and short-term investments | $1.0 billion | December 31 |
Source: Etsy 2024 10-K.
Buyers, sellers, and shopping behavior
The core Etsy marketplace’s end-of-year audience was broad, but several measures declined from 2023. Etsy’s 2024 active sellers fell 10.1% from 2023, while active buyers fell 1.1%. Etsy marketplace GMS fell 5.4% from 2023. (Etsy 2024 10-K)
The year-end marketplace totals were 5.6 million active sellers and 89.6 million active buyers in Q4 2024. Marketplace GMS per active buyer on a trailing-twelve-month basis was $121 in Q4 2024. (Etsy Q4 2024 results)
For comparison, Etsy’s 2023 consolidated active-seller count was 9.0 million and its consolidated active-buyer count was 96.5 million. The Etsy marketplace alone had 7.0 million active sellers and 92.0 million active buyers at December 31, 2023. (Etsy 2023 10-K)
Etsy also reported a group of repeat or high-frequency customers. It had 6.8 million habitual buyers in Q3 2024, and that number was down 4.8% year over year in Q3 2024. These figures are narrower than the total active-buyer count and should not be treated as interchangeable. (Etsy Q3 2024 results)
Quarterly buyer spending showed a moderate change from the prior-year comparison provided by Etsy. Marketplace GMS per active buyer was $123 in Q3 2024 and $121 on a trailing-twelve-month basis in Q4 2024. In Q4 2023, the comparable marketplace GMS per active buyer figure was $126. (Etsy Q3 2024 results; Etsy Q4 2024 results)
Geography and product mix
U.S. buyers generated 74% of Etsy, Inc. and Etsy marketplace GMS in 2024. Buyers outside the United States generated the remaining 26%. Etsy’s GMS ex-U.S. domestic represented approximately 46% of total GMS in 2024, and that measure decreased 3% from 2023 to 2024. (Etsy 2024 10-K)
The geographic mix matters because the measures describe different scopes. The 74% and 26% figures divide GMS by buyer location, while ex-U.S. domestic GMS is a separate company-reported measure. They should not be combined into a new estimate beyond the percentages Etsy disclosed.
Etsy’s six largest retail categories represented approximately $9 billion of 2024 GMS and approximately 87% of the year’s total GMS. Custom or made-to-order merchandise contributed approximately 30% of 2024 GMS. Together, these statistics show both concentration in major retail categories and a meaningful role for personalized purchasing. (Etsy 2024 10-K)
Depop and Reverb statistics
Etsy’s portfolio included marketplaces with different audiences and category profiles. Depop had approximately 43.5 million registered users during Q4 2024. At December 31, 2024, Depop had 5.1 million active buyers and 2.3 million active sellers. (Etsy 2024 10-K)
Depop’s 2024 GMS was geographically split between 64% from U.S. buyers and 36% from non-U.S. buyers. Nearly 94% of Depop’s GMS was in apparel. That category concentration distinguishes Depop’s reported activity from Etsy’s broader creative and retail marketplace. (Etsy 2024 10-K)
Reverb, the music-gear marketplace, had 785,000 active buyers and 221,000 active sellers at December 31, 2024. Reverb’s 2024 GMS was $918 million, down 2.6% from 2023. (Etsy 2024 10-K)
Reverb’s customer behavior included a notable seller-buyer overlap. In 2024, 56% of Reverb’s active sellers were also buyers. Sellers who were also buyers spent 2.5 times more than sellers who only bought music gear. More than 80% of Reverb’s traffic was unpaid, and more than 40% of its GMS came from its mobile app. (Etsy 2024 10-K)
Historical GMS figures for selected marketplaces provide additional context:
| Marketplace or company measure | GMS | Period |
|---|---|---|
| Etsy, Inc. consolidated GMS | $13.16 billion | 2023 |
| Etsy.com | $11.6 billion | 2023 |
| Reverb | $942.1 million | 2023 |
| Depop | $599.6 million | 2023 |
| Elo7 | $42.1 million | 2023, before sale on August 10 |
| Reverb | $918 million | 2024 |
Sources: Etsy 2023 10-K; Etsy 2023 8-K; Etsy 2024 10-K.
Marketplace trends across periods
The available quarterly figures show Etsy marketplace activity at several points in time. Marketplace GMS was $2.7 billion in Q1 2023, with 5.9 million active sellers and 89.9 million active buyers. (Etsy Q1 2023 results)
In Q3 2024, marketplace GMS was $2.5 billion, and marketplace GMS for the first nine months of 2024 was $7.6 billion. The marketplace had 6.2 million active sellers and 91.2 million active buyers in Q3 2024. GMS per active buyer in that quarter was $123. (Etsy Q3 2024 results)
The 2023 comparison points include $13.16 billion in consolidated GMS and $2.75 billion in revenue for the full year. Etsy.com GMS was $11.6 billion in 2023. Etsy’s consolidated revenue reached $842.3 million in Q4 2023, and the reported Q4 2023 take rate was 21%. (Etsy 2023 10-K; Etsy 2023 8-K; Etsy Q4 2023 results)
These period-specific figures should be read as reported snapshots rather than a single uninterrupted series. The company changed over time, and the measures cover different scopes, including Etsy marketplace, Etsy.com, consolidated Etsy, Inc., and individual portfolio marketplaces.
Trust, safety, and intellectual property
Etsy’s 2024 Transparency Report described how policy enforcement operated across the marketplace. Etsy said its systems generated 93% of policy-enforcement flags and the community generated 7%. By the location of accounts actioned for policy violations, North America represented 56%, Europe 33%, Asia 6%, and the rest of the world 5%. (Etsy 2024 Transparency Report)
Under its Handmade Policy and Creativity Standards, Etsy removed 22% more listings for violations in 2024 than in the prior year and suspended 1.5 times more sellers for those violations than in the prior year. About 0.5% of all Etsy listings were subject to policy action in 2024. (Etsy 2024 Transparency Report)
Etsy processed 85,591 alleged infringement reports in 2024 and rejected 15% of submitted intellectual-property reports. The rejection rate was down 44% from 2023. Copyright represented 59% of Etsy’s IP takedowns, trademarks 38%, patents 0%, and other IP issues 3%. (Etsy 2024 Transparency Report)
Etsy removed about 832,000 listings for intellectual-property takedowns and about 402,000 listings for potential counterfeit violations in 2024. It closed 26,754 shops for intellectual-property violations. The geographic distribution of IP takedown reporters was 59% North America, 23% Europe, 7% Asia, and 11% the rest of the world. (Etsy 2024 Transparency Report)
Customer-support measures also appeared in the report. Etsy’s Help With Order case rate was 4% in 2024, down 16% for the year, and Etsy resolved Help With Order cases in 1.5 hours, which was 25% faster than the prior year. (Etsy 2024 Transparency Report)
Etsy received 799 subpoenas or legal requests in 2024 and produced 467 valid responses. It disclosed those requests to 1,879 affected members. Etsy reported that it did not receive national security letters, FISA orders, or other classified requests in 2024. (Etsy 2024 Transparency Report)