[SeekingAlpha] Etsy 'potential beneficiary' from Temu shifting focus away from U.S. -- Wells Fargo

[papy]

Etsy 'potential beneficiary' from Temu shifting focus away from U.S.- Wells...

“We estimate Etsy.com generated 68% of GMS from US buyers in 2023, and we note our UW has been partially predicted in our view that Etsy was facing the most significant Temu headwind within our coverage,” wrote Wells Fargo analyst Ken Gawrelski, adding that the brokerage sees New York-based Etsy as the most potential beneficiary from the shift.

[joebcrafts]

It is sad to think that a site started as Handmade and Vintage, would benefit from a site that peddles mass produced junk at below cost prices focusing its efforts elsewhere.

I guess that just shows how “generic” the majority of the items available on Etsy has become. Why bother specifically shopping there if you could get the junk directly from the overseas manufacturer or from at least a dozen other websites without the “artisan” markup.

[lake]

I would not trust investment analysis from anyone at Wells Fargo. They are not above providing a narrative which would benefit their self-interest. I’d sooner believe investment advice I saw on Reddit.