Online retailer Etsy reported third-quarter sales more than doubled from the same period last year, reaching $451.5 million and increasing profits five-fold, as shoppers stocked up on masks and treated themselves to new home décor items, the company said in a statement announcing the results.
The number of shoppers on its site shot up 41 percent year on year, including 19 million new or reactivated visitors.
After selling 12 million masks in April alone, the company reported that 110,000 sellers had sold at least one mask on the platform by the end of the second quarter.
Masks accounted for 14 percent of merchandise sold on the site during the third quarter, the company reported.
But Etsy hasn’t let shoppers stop with masks.
“Masks might be bringing people to Etsy’s door,” Rick Patel, an analyst at Needham & Co. said in a Wall Street Journal interview, “but it’s doing a good job of retaining them to buy other products.”
TREND FORECAST: Again, as we have previously noted, rather than questioning the effectiveness of the masks being worn, an obedient public succumbs to the orders of their masters. Not concerned about losing their personal identity, they instead replace it with a fashion statement expressing complete submission, muzzled to speak their minds.
