Almost every retailer looks forward to Black Friday. That is the date you set aside to do all your shopping. With the ongoing pandemic, this holiday season already saw record sales in the e-commerce sector and Etsy investors are digging that right now. Etsy is one of the e-commerce sites that has reached new heights in the past few months.
The New-based e-commerce company performed well in recent years. But Etsy stocks saw a downturn during March 2019 to March 2020. But the coronavirus pandemic helped pick up their pace since then. As the traditional was taken over by the virtual, investors started shifting to the e-commerce sector. Etsy stocks are up by almost 440%, as of Friday, since the terrible lows of 2020 Q1. And Etsy stocks are not likely to slow down just yet.
Etsy Looking Forward To Record-Breaking Sales In Q4
The company has already made record sales in 2020 and with much of the holiday season still left, Etsy is looking forward to record-breaking sales in Q4. The recent high has not even placed Etsy stock in the overbought section as the company recently had 20% + drops in the past 2 months.
Reportedly, consumers spent about $9 billion after Thanksgiving Day this year. This shows that the company’s sale is up by 21% since last year. By today’s end, analysts expect Etsy sales to cross $13 billion. That would mean a 35% rise from last year’s figures.
The boom in e-commerce inversely suggests a 50% decline in the sales of physical retail outlets. Investors are also considering the fate of Etsy once the coronavirus pandemic subsides. However, Etsy’s revenue was up by about 128% at the end of Q3. This was even more the highest expectations from the company. Moreover, CEO Josh Silverman says that the company will be able to sustain this growth in 2021 as they have established themselves as a preferable shopping destination which is independent of factors like the pandemic.
