{"id":813462,"date":"2021-07-01T14:35:41","date_gmt":"2021-07-01T14:35:41","guid":{"rendered":"https:\/\/www.knowband.com\/blog\/?p=813462\/"},"modified":"2022-08-13T12:01:14","modified_gmt":"2021-07-01T14:35:41","slug":"etsy-overtaking-elo7-brazilian-marketplace","status":"publish","type":"post","link":"https:\/\/www.knowband.com\/blog\/ecommerce-blog\/etsy-overtaking-elo7-brazilian-marketplace\/","title":{"rendered":"Etsy Overtaking the Brazilian Marketplace Elo7, for handmade items"},"content":{"rendered":"

Etsy overtaking Elo7, the Brazilian marketplace which is popular for its handmade products. Elo7 is a unique platform for handmade items in Brazil that falls in the top 10 list. Etsy is a world-famous marketplace that is known for its unique handmade products. Sellers can sell their art and crafts to people who admire and understand the value of handmade items.<\/p>\n

The official announcement<\/a> was made on the Etsy platform. The Elo7 has around 1.9million active buyers and 56000 sellers, a great advantage for Etsy. The company is selling its stakes to Etsy for US$217 million in cash with some adjustments to it. The Elo7 is a huge marketplace with over 8 million products for sale. Appears like, Etsy is going to make huge profits from this acquisition in the coming days.<\/p>\n

In regards to this major takeover, Josh Silverman, Etsy, Inc. CEO, said, “Elo7 is the ‘Etsy of Brazil,’ with a purpose and business model similar to our own\u201d.<\/p>\n

Why Etsy is overtaking Elo7?<\/h2>\n

As mentioned, the Elo7 is a top-ranking peer-to-peer Brazilian marketplace with a large customer base. Several local sellers and millions of products will benefit Etsy in various ways.<\/p>\n

Another advantage for Etsy is that the company will not have to make big changes in the policies as both have the same niche.<\/p>\n

Elo7 is expected to provide Etsy with a range of local brands in the rapidly rising Latin American market. Along with this, the eCommerce penetration is around 10% since Brazil is the largest eCommerce market in the region.<\/p>\n

The eCommerce market is expected to reach $1 trillion by 2020. In 2021, it is expected to be around $29 billion, with a 26% increase forecasted CAGR through 2024.<\/p>\n

Elo7 is well-positioned to benefit from Etsy’s expertise to accelerate growth and value creation in the Brazilian Marketplace.<\/p>\n

Etsy also acquired Depop<\/h2>\n

Recently, Etsy acquired another famous marketplace Depop that has a very similar business model to Etsy. The acquisition with Depop and Elo7 is significant thus has a tremendous growth opportunity in respective countries.<\/p>\n

About Etsy Marketplace<\/h2>\n

Etsy, Inc. is empowering creative individuals since 2005 with its two-sided online marketplace. It brings together millions of enthusiastic and creative shoppers and merchants from all over the world. Etsy.com<\/a> is a global destination for one-of-a-kind and creative items. Etsy buyers get inspiration from handmade unique products curated by creative businesses.<\/p>\n

Reverb, a leading global online marketplace for buying and selling new, used, and vintage musical instruments, is also owned by Etsy, Inc.<\/p>\n

How to sell on Etsy?<\/h2>\n

Start selling on Etsy<\/a> with simple registration and become a seller. If you own a business that creates unique products, Etsy is the platform for you. Anyone can become a merchant on this creative hub.<\/p>\n

There is a chance that you are already selling products on your website. As a result, it becomes daunting when you have to manage the same inventories at two different places.<\/p>\n

To save yourself from this horrible task, you should use a marketplace integrator. This indeed reduces extra efforts and help you manage orders and inventories from your website itself.<\/p>\n

KnowBand Etsy Marketplace Integration<\/h2>\n

\"etsy-marketplace-integration\"<\/a><\/p>\n

The marketplace integration<\/a> for Etsy is robust that allows you to connect your website with your Etsy profile. The real-time sync, easy order management, stock management and inventory management will become easy and effortless.<\/p>\n

The Etsy Marketplace Integration plugin<\/a> is installed by more than 450 PrestaShop stores. KnowBand’s Marketplace plugins are available for PrestaShop<\/a>, OpenCart<\/a>, Magento<\/a> and Magento2<\/a> platforms. There are 100+ downloads for every platform.<\/p>\n

Facilities provided by Etsy Marketplace integration:<\/p>\n