AI Index / Etsy, Inc.
Etsy, Inc. (ETSY)
Etsy's popular global online marketplace for handmade and homespun goods has a re-architected search algorithm that uses advanced machine learning techniques, incorporating seller quality metrics to match buyers with items they are likely to appreciate. This approach aims to enhance the shopping experience by providing more relevant search results.
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Just over 20 years later, we're at an inflection point, one where the power of AI technology has the potential to make commerce on Etsy more human than ever, enhancing our differentiation and strengthening our unique customer value.
- Kruti Goyal
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Quotes from etsy Executives About Artificial Intelligence and Generative AI
On the seller side, AI is already helping to automate routine tasks. So sellers can spend more time on what only humans can do, creating, designing and connecting with customers around the globe.
- Kruti Goyal
On the buyer side, it's making discovery easier and more relevant, helping Etsy show up in more of the moments where inspiration begins.
- Kruti Goyal
Since our last call, we've expanded our agentic shopping partnerships, adding integrations with Microsoft Copilot and Google as well as an agentic payments agreement with Stripe.
- Kruti Goyal
Using ChatGPT as an example, we're seeing evidence that in addition to bringing new buyers to Etsy, a meaningful share of buyers engaging through ChatGPT have a prior relationship with us, including lapsed buyers, indicating that a genetic shopping could be a great unlock for retention and better lifetime value.
- Kruti Goyal
There's a lot on our AI and agentic commerce road map. With these important partnerships as well as through the development of product experiences on Etsy and we'll keep you informed of our progress.
- Kruti Goyal