(NASDAQ: ETSY) was a much smaller business just a few years ago. Yet the pandemic helped lift annual sales to nearly $3 billion from $600 million back in 2019.

These days the marketplace platform specialist is more focused on trying to hold on to those huge gains than on aggressively expanding its sales footprint. That defensive posture helps explain why the stock is down over 30% so far in 2023 while the S 500 is up 18%. Management sees a long runway for growth following this consolidation phase, though. "We believe that our [total addressable market] is enormous," executives said in its early November earnings report.

Let's look at how Etsy is aiming to capture that huge market, and where those strategies could push the stock over the next several years.

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Source Fool.com