Etsy Inc ETSY shares are trading higher by 3.91% to $74.63 Monday afternoon. Shares of e-commerce and internet retail stocks are trading higher amid holiday sales. Mastercard SpendingPulse data showed e-commerce sales increased 8.5% year over year on Black Friday while investors await Cyber Monday data.
What Happened With Black Friday?
Despite economic uncertainty, Black Friday saw a significant rise in online sales, up by 8.5% compared to the previous year, as consumers opted for digital deals over crowded stores.
Nevertheless, in-store purchases showed resilience with a respectable 1.1% year-on-year growth, highlighting a balance between online and brick-and-mortar shopping despite the digital surge...Read More
Why This Matters To Etsy Investors
Etsy operates as a unique online marketplace, specializing in handmade, vintage and unique goods. Amid the shift towards online shopping, consumers seeking personalized or distinctive items might prefer platforms like Etsy over mainstream e-commerce sites.
The overall surge in online sales on Black Friday could signal increased demand for niche or specialty items, potentially benefiting Etsy.
See Also: Why Arvinas Shares Are Seeing Blue Skies
According to data from Benzinga Pro, Etsy Inc has a 52-week high of $149.91 and a 52-week low of $58.20.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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