The popular P2P (Peer to Peer) ecommerce site fits right into the niche that Wanelo has taken aim at. Etsy is currently one of the largest ecommerce sites for new, vintage, and hand crafted items. Its primary seller base is a networks of small and up and coming companies that can have easy access to an affordable ecommerce platform. The affordability has produced an active seller list of about 1.4 million with an active user list of about 19.8 million. 2015 produced 195 million dollar in profit making it one of the largest ecommerce on the web. Wanelo wants to change that with its entry into the ecommerce market place. For the time being Wanelo is not charging users for listings which gives it a leg up Etsy who charges a 3.5% value surcharge and a 20 cent listing fee. Wanelo as a company is on the fast track to go after the Etsy crowd. Similar to its positioning against Pinterest, Wanelo possesses a demographic that is identical to that of Etsy. Etsy is 86% female compared to 90% female for Wanelo which puts Wanelo in prime position to market itself to Etsy’s sellers and buyers. One of the other key characteristics that puts Wanelo against Etsy is the average income of its buyers. Both companies have median incomes of about 55,000$ which means that Wanelo possesses the same target audience in both income and gender meaning that there is a significant amount of room to grow especially against the Etsy audience. Obviously the one primary area that puts Etsy at a disadvantage compared to Wanelo is the developed social aspect. Etsy does not have as diverse a social experience compared to Wanelo in that there is no in-depth following feature nor is there a developed communication channel which gives Wanelo the potential to grow against the Etsy Brand. Moving forward with Wanelo, they need to go after Etsy’s, revenue stream in addition to its customer base. Its current positioning Is prime for substantial growth in the social media world. We can definitely expect to see it develop it self exponentially against the existing Etsy brand and social media platform.
Read more about Wanelo’s competition at Attack On Pinterest
Info Sourcing: http://brandongaille.com/22-exciting-etsy-sales-statistics/