Etsy Sellers on a Rollercoaster for 2021

Etsy is a US eCommerce portal which deals in vintage goods, crafts, and handmade products. These items cover a broad spectrum of things, including bags, jewelry, home decor items, clothing, furniture, artwork, toys, and tools.

The site is modeled along the lines of the traditional open craft fairs in the US. This is a unique way of allotting personal storefronts to the sellers, where they enlist their items for US$0.20 for every item.

The trends over the past years dictate that Etsy will be bringing in colossal profit and generating substantial revenue. We walk you through some Etsy statistics that you can glean to augment your sales efforts.

Target Audience for Etsy Sellers

Millennials throng Etsy portals for most items that they fancy. The younger folks prefer buying from smaller brands as it allows them to be prudent with their money. Moreover, niche crafts and vintage objects are a hot favorite among young crowds.

Recent statistics also show that Etsy is all the rage among female consumers between the ages of 18 to 35. In fact, 81% of Etsy clients are female, as opposed to 19% of its male consumers.

Statistics on Etsy

Etsy statistics suggest 62% of sellers are based out of the US. They are located in 234 countries generating $4.97 billion US dollars as revenue last year. This shows that the online marketplace offers the best bang for the buck for crafters all over the world.

Over 60 million products are featured on the Etsy platform. Searches on craft items like letter writing accessories and embroidery sets are up by 354% YoY and 230% YoY, respectively.

Etsy revenue has grown exponentially in the past two years. Most recent statistics estimate that 45.7 million people actively bought Etsy products.

Etsy in Times of Corona

Even though disaster struck in the form of COVID-19, the platform was thriving in 2020, especially in the ‘Home and Goods’ categories. There was also a 472% YoY surge in the search with the term ‘sweatsuit’ on the Etsy site.

Besides, many people sought an alternate source of income during the pandemic or wanted to kickstart their own business, thereby boosting the platform's popularity. 

The growing demand has created the need for some of the most successful Etsy sellers to market their products actively on eCommerce sites. Agencies can track the list of Etsy sellers to target the most profitable businesses.

Income Estimates of an Etsy Seller

For those willing to trade on Etsy, the first question that comes to mind is undoubtedly this: 'How much do Etsy sellers make?'

Creating products of premium quality that are a class apart can attract buyers instantly. An Etsy seller's average monthly income can range between $500/month to over $10,000.

Targetting the proper demographic is necessary to ensure that the merchandise sells like hotcakes. Building a following on social media and product endorsements via blogs are some effective methods of advertising that Etsy sellers can rely on to boost sales.

How to Be a Top Etsy Sales Rep in 2021

To join the ranks of the top Etsy sellers in 2021, you need to know a few things.

• Setting up your shop: You have to create an Etsy account where you will find the option ‘open your Etsy shop’. Choose a creative shop name that describes what you do. 
• Creating a brand image: Upload an eye-catching logo and banner to bring your shop to life. Add an amiable announcement to let visitors know of your start-up. Explain your ideas, goals, and history in the ‘About Us’ section to give your customers an elaborate idea about what you do.
• Strategic marketing: Be active on social media to communicate with people and expand your outreach. Instagram can do this job for you in the most innovative way via its hashtags. You can also try using Etsy Ads, where the ads you choose will feature in Etsy search results according to your budget.
• Options for shipping: Retailers profit much more by ensuring speedy delivery for their clients. Postal services are not always feasible during a pandemic, and may not be able to keep up with a high volume of deliveries, thereby impacting sales. It's best to use top-notch courier services in your area instead to help you compete with your rivals.
• Incentives for customers: As a sales representative of Etsy, your target is to convince your first-time clients to buy from you again. Recent trends suggest that 75% of the customers are most likely to buy again if they get an incentive. In the past year, 45% placed more than one order on receiving incentives.

Is Etsy on a Decline?

Etsy is creating an uproar among the portal’s 2.7 million sellers of late. The marketplace has pushed many crafters beyond their limits owing to the high costs and the gradual loss of control of their businesses. This situation is forcing many Etsy sellers to leave the platform and set up their business elsewhere.

On top of all that, many clients have experienced issues with the quality of some Etsy products. Not every seller on the platform can meet consumer expectations regarding well-made crafts and handmade goods, and a lack of artistry in some items has impacted the site's popularity.

Regardless, Etsy still manages to get a lot of organic foot traffic. Merchants can get more out of the platform by crafting quality products, staying consistent with their listings, and being savvy with their pricing strategies. 

The Bottom Line

The online marketplace's growth in 2020 has been tremendous. Hence, collaborating with Etsy will benefit a seller favorably to engage in a successful business in 2021.

CartInsight is the perfect resource for sales reps who want to extract the most possible value out of their Etsy store. The database has been able to bring a huge chunk of users on board who are selling their products to many eCommerce platforms, including Etsy.