🚚 Etsy's Machine Learning Leap
Etsy introduces a machine learning model that promises more precise delivery dates. CEO Josh Silverman mentioned this on a May 1 earnings call. The new system cut USPS transit time predictions by over a day.
📈 Impact on Buyer Perceptions
The initiative helps Etsy challenge its slow delivery reputation. Josh Silverman aims to "improve buyer perceptions of our reliability," hoping to increase gross merchandise sales significantly.
📊 Steady Progress and Expectations
Since Q3 2020, Etsy has increased the share of listings with delivery dates from 69% to 99% by Q3 2023. These improvements are part of Etsy's broader strategy to enhance customer experience and drive sales.
🔍 Future Aspirations
With plans to further reduce shipping times by at least two days, Silverman is optimistic about overcoming the negative perceptions associated with Etsy's delivery speeds. This strategy is crucial as Etsy seeks to boost its market presence and attract more buyers.
Will Etsy's new model speed up your shopping?
