While the quarter's results end a short streak of deteriorating numbers, CEO Josh Silverman conceded, "We are undoubtedly operating in a challenging environment for spending on consumer discretionary items." Economic tepidness has crimped sales As was noted, inflation-weary consumers are cutting back on discretionary spending to pay for increasingly expensive staples like food, utilities, and toiletries. It has built a marketplace of nontraditional, unique, customizable, and artisanal inventory, deriving a competitive edge from a network that grows more valuable as additional buyers and sellers join the platform."