Have you ever heard of Etsy? Surely. It is one of the most important sales platforms for handcrafted and vintage products. Every day, millions of users visit the website looking for a bargain and evaluate the products sold by more and more merchants.
If you also want to sell on Etsy, our guide will show you what the pros and cons of this platform are and what is really important aspects to take into account. Read the next lines and become a new trader on Etsy!
Etsy is a booming market where you can find everything from unique handicrafts to antiques. As its success is becoming increasingly apparent, we decided to compile a list of Etsy statistics to keep in mind:
- Etsy recorded sales of $1.7 billion in 2020;
- Etsy’s sales statistics reveal that in 2020 it recorded a net profit of 349.25 million dollars;
- Etsy user statistics show that there are currently 86.53 million active users;
- Etsy has merchants in 234 countries;
- Etsy invested $500.76 million in marketing in 2020;
- In 2020, there were 4.1 million active Etsy sellers;
- Demographic data of Etsy buyers show that over 80% of Etsy sellers are women;
- The 97% of the vendors manages the shops from home.
Let's see what are the advantages and disadvantages of relying on a platform like Etsy.
Advantages and disadvantages
- Wide Market: currently Etsy has more than 81.9 million active shoppers making it a great place for your handmade or vintage items. Etsy users visit the platform with the intention of purchasing items. List your products to intercept their urge to shop.
- Integrated analytics: As an entrepreneur you should always make your business decisions based on data. Etsy tracks many metrics such as traffic to your page, number of products added to favorites, orders received, revenue for each item in your shop, which customers are interested in your products, etc. By doing this you will have a better overview and will be able to move more effectively on the platform.
- Setting up a store is simple: opening a store on Etsy is really simple and takes just a few minutes. On the site you will find a step by step guide to know all the functions available to you. Once you open your Etsy store, you’ll also have access to Etsy guides on topics such as growth strategies, how to write effective product descriptions, optimizing your store, etc.
- Selling of only handmade or vintage items: this is also one of the strengths of the platform even if for some it could be seen as a limit. On Etsy you can only sell handmade or vintage items. For this reason, wholesalers or resellers cannot sell their products on the platform. If you fall into this category, you could benefit from platforms like eBay or Facebook Marketplace.
- Fees and commissions: like most sales platforms, Etsy also charges commissions for your sales. Generally, the fees are around 5%.
What to pay attention to
Want to start selling effectively on Etsy? We will not focus on the basic aspects of how to open an online store but we want to give you an insight into what are the really important elements to be successful on this platform.
Before opening your shop, look at what your competitors are doing or how successful entrepreneurs who already use the platform behave. You can see interesting aspects such as the photographs of the articles, the descriptions, the evaluation of the articles themselves. By looking at what other sellers are doing, you can get inspired and build a truly effective online Etsy shop.
On Etsy, of course, you can list your items for sale. Therefore, make sure you have a large inventory and that your products are ready to ship. Your inventory should be “ready to use” so that once opened, you can focus solely on sales. If you are selling bespoke products, you should make sure you have sufficient supplies and communicate delivery times with potential buyers.
Once your store on Etsy is online, your goal will always be to attract new buyers. Therefore, you should write descriptions and headlines that intercept searchable keywords from those who want to shop. In this way, users will see your products when they search with relevant terms.
Furthermore, you should commercialize your Etsy account on other platforms. Many Etsy business owners share their products on Instagram, Twitter, or their website. After making sales, remind shoppers to write a review about your showcase. Etsy shops that have satisfied customer reviews are likely to attract more shoppers in the future.
The importance of relying on professionals
Although opening a shop on Etsy is easy, achieving the first results is increasingly complex as the presence of sellers on the platform becomes more massive and competition increases.
Selling on Etsy isn't easy, especially if your knowledge isn't extensive. You could spend a lot of time both analyzing competitors and building an effective store from scratch, and you will have to invest many hours to optimize the channel with no guarantee of results (and your enthusiasm will wane).
That is why it is important to rely on professionals who will do this job for you. Under your direction, our team will complete all tasks and make your online shop on Etsy highly effective.
Start Selling on Etsy, Contact Us clicking here!