Etsy: Executive Summary

Etsy acquires an expertise in AI – Blackbird Technologies
The marketplace that is known for the home made products and crafts that is well known as Etsy, now acquires the Blackbird technologies for improving its search capabilities. Blackbird technologies have developed the machine learning techniques that delivers the high search relevance and promotes recommendations. Blackbird’s novel technology combines both the text and images and uses the Artificial Intelligence techniques to improve the search capabilities of the websites. It includes the spelling correction, ranking and personalized shopping experience for the users.
People prefer Etsy because of its unique collections, Etsy also helps the customers to find what they actually need,

About Etsy
Etsy is an e-Commerce website that focuses on the handmade items. And it is well known for its unique collections. The items which are sold in Etsy include clothing, photographs, arts, crafts, jewelry, beauty products, foods and toys. Many sellers sell the unique products on the Etsy.
Till December 2014, there are about 54 million people registered as members of Etsy. There are about 1.4 million sellers and 19.8 million buyers on Etsy. By the end of 2014 etsy had about 685 employees and 28 million unique products. In the year 2014, Etsy had about 1.93 billion as its income. In which 36% of the purchases are from the mobile devices. And 30% of purchases were made outside the USA. In 2014 Etsy had revenue of about $195 million and had a loss of about $15 million.
Features of Etsy

Most of the customers in the US prefer the real time promotions for their products. Etsy can use the AI technology for having more customers engaged at Etsy. This will also boost up Etsy, to compete with the top ecommerce websites like Amazon, eBay and many others. Etsy sellers should develop the many products of similar type. So that many customers can buy the similar product technique is used by the top ecommerce websites. Amazon and eBay have incorporated the AI techniques to have more relevance for their searches. As many giant ecommerce websites started using AI for improving their search results, they should work on to make the customers buy products regularly in your site. One of the ways to attract the customers is to have the loyalty awards, it is the way of giving points for the customers if they purchase for some specific amount, and the people who have the maximum points can be given