Etsy, Inc. (NASDAQ:ETSY) Q4 2022 Earnings Call Transcript

Josh Silverman: Yes. We are really excited about the Indian market. It has a wonderful history of artisanship, craftsmanship, handmade, very aligned with the culture of India; and also the priorities of the government, which we think is great. Our ability to lift up and support Indian sellers in their own market, we think is something that we’re very well aligned on, all of us together. We have about 120,000 sellers now in India with about five million live listings, so we think that’s a really encouraging start. And the big asset we bring is the opportunity for the sellers to export to other markets in a very affordable way. For $0.20, you can open a store in India and sell to the world, and so that’s how we’ve been able to get a good number of sellers and listings.

Now we are building the belt-and-suspenders to allow for a buyer experience in India as well. And that requires shipping providers, that requires payments infrastructure. Making sure that we have all the right trust and safety, infrastructure for the Indian culture in the Indian market. And so that’s the investment we’ve been making and the work that we’ve been doing. We’re encouraged by the progress that we’re making, and we’re very excited about the future. I do want to say we want to invest in India in a sustainable way, and so making sure that we do it in a way that supports organic growth over time and doesn’t just flood the market with a lot of investment that either succeeds or fails in a short amount of time. And then if it doesn’t work, we pull out with our tail between our legs.

How do we sort of bit by bit, step by step invest organically in the market in a way that is very sustainable over the long-term and builds a great market? So we’re excited about that. We think we have a lot to offer to the Indian market and excited by the progress we’ve made.

Debra Wasser: Great. Thanks, Josh. And with that, I’m going to call it. We look forward to seeing everyone on the road back in real life out there soon. Thank you all for joining us.

Josh Silverman: Thank you.

Rachel Glaser: Thanks, everyone.