Marketing is used to attract both new sellers and new buyers. It is important to compare marketing expenses growth with revenue growth, since if the revenue growth lags behind then marketing is innefective.
Last reported quarter 2021 Q4 it was $204.20 million, down by -3% year-over-year from $210.76 million. From $500.76 million in 2020 it increased by 31% to $654.80 million in 2021.
Source: Etsy Quarterly Results.