Etsy - the e-commerce site focused on handcrafted goods - saw its revenue more than double in 2020. CEO Josh Silverman describes the COVID-19 pandemic as the company's "Dunkirk moment." At a time where traditional suppliers couldn't even come close to meeting the demand for face masks, Etsy makers stepped up. The company wound up selling about $740 million worth of masks in 2020, according to Silverman. However those sales were dwarfed by the clamor for home goods - everything from custom-made desks to throw pillows.
In this episode of Leadership Next, Silverman tells Alan Murray and Ellen McGirt why he believes so many people turned to Etsy during the pandemic. And he explains the company's commitment to three big issues: economic empowerment, diversity and sustainability, saying "being a good citizen makes us an even better business."