"A lot of what happens with Etsy ties to the macro environment," says Sean Dunlop. He says Etsy has done brilliantly in holding onto pandemic-driven Gross Merchandise Volume. However, he points out that Etsy is a discretionary and cyclical company and in the case of a recession consumers would cut spending on most of its main products. Long-term, he thinks Etsy will continue to grow and targets $300 in per-buyer spend.
Trading 360
23 Feb 2023
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