Etsy Plans to Take a Vertical Approach in 2023

Etsy CEO Josh Silverman recently announced during a Wall Street presentation that the company will adopt a “vertical” strategy in 2023. This means that certain types of products will be treated differently, as opposed to all categories receiving the same features, policies, and level of marketing attention.

This approach is similar to eBay’s “focus categories” strategy, which has been in place for several years and includes Trading Cards, Sneakers, and luxury goods such as Handbags, Jewelry, and Watches.

By prioritizing certain categories, marketplaces like Etsy and eBay hope to generate sales of higher-priced goods and attract “enthusiast” buyers who may also spend money in other categories. However, it’s important to note that a vertical approach could potentially benefit sellers in certain categories more than others.