- Etsy is leveraging artificial intelligence to create detailed customer profiles for over 70% of its nearly 90 million shoppers.
- The AI technology analyzes purchase history, habits, and shopping intent to improve product recommendations and personalized search results.
- Chief Financial Officer Lanny Baker noted that the strategy helped marketplace sales grow 7.5% to $2.58 billion in the latest quarter.
- Etsy is partnering with platforms like ChatGPT to enable chatbot advertising and direct purchases while working to attract younger shoppers.
- The company recently sold secondhand app Depop and cut 12% of its workforce to focus resources on core marketplace growth and search improvements.
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