This year hasn't been very friendly to Etsy (NASDAQ: ETSY), whose shares are down a jaw-dropping 42% this year (as of Dec. 23), despite a rally over the past several months. The popular online marketplace for unique, vintage, and handcrafted goods is facing a noticeable slowdown, thanks partly to the macroeconomic picture. 

Regardless of what's going on with inflation or interest rates right now, where will Etsy's stock be in three years? Let's take a closer look at this top e-commerce business. 

Unsurprisingly, Etsy absolutely flourished thanks to the coronavirus pandemic. Consumers, flush with stimulus cash and not spending as much on travel or other entertainment options, flocked to online shopping. Offering face masks, as well as numerous other in-demand product categories, was a boon for Etsy. Gross merchandise sales (GMS) jumped 106.7% in 2020 and 31.2% in 2021 on a year-over-year basis. And revenue soared 110.9% and 35%, respectively, in those two years. Times were good. 

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Source Fool.com