Choosing a platform for your hustle isn’t easy. There are so many things to consider, so how do you know which platform is right for you?
A side-by-side comparison might help, but we are here with a shortcut. There’s one marketplace that we know works for all kinds of businesses – Etsy.
I shop on Etsy from time to time, and there is a good chance that with 3.6 million sellers, you do too. It’s user-friendly and has a lot of cool stuff you can’t find anywhere else.
Choosing Etsy as your business platform is easy based on its success alone, but that’s not all there is to consider.
In this newsletter, we’re diving deep into all things Etsy.
This week’s newsletter brings you:
- Trends – We bring you all the available data on Etsy selling trends and statistics.
- Strategies – This week, we show you what makes Etsy great for hustlers like you, how to set up your own Etsy shop, and some examples of incredibly successful Etsy sellers.
- Tool of the Week – If you want your products to succeed, they need to be found. Optimize your products listing SEO by using Marmalead.
Time to talk brass tacks (or antique buttons!), Side-hustlers.
Trends
What are the most popular product categories on Etsy? How many customers actually buy from the platform? Are they shopping on mobile or desktop? The Side Hustle Strategies team has scoured the internet to bring you the latest stats. Enjoy!
Etsy’s most popular categories
In this graph, we see the most popular categories among handmade Etsy sellers worldwide as of June 2020, by share of sellers.
During this period, the handmade segment represented 85 per cent of Etsy sellers and the most popular category in handmade was home & living with a 25 per cent seller share.
Etsy number of active buyers
The number of active buyers on Etsy continues to grow! As we can see in this graph, Etsy enjoyed a huge boom in popularity during the pandemic, when online shopping became the norm.
Etsy number of active sellers
As Etsy’s popularity continues to grow, so does the number of people selling on the platform – this doesn’t mean that Etsy is oversaturated though, there’s still plenty of money to be made by savvy side hustlers!
Etsy sales by device
In this chart we can see that more and more people are shopping online via their mobile devices. So if you decide to set up an Etsy store, make sure it’s optimised for mobile!
Strategies
We’ve built up the hype; now, we pull back the curtain to reveal why you should be selling products on Etsy.
Why people sell on Etsy
There’s a wide variety of reasons sellers and buyers have flocked to Etsy. For starters, buyers find things they can’t find anywhere else, and the community of sellers is massive!
Here’s why Etsy is such a good marketplace for sellers:
Etsy’s seller community
Some e-commerce sites are full of fierce competition where sellers undercut each other with low rates and special incentives. Etsy is different. The seller community is strong and usually willing to assist.
The “Etsy Community” is where merchants may ask and answer inquiries, vent their grievances, and provide advice. The layout is similar to that of Amazon Seller Central’s forums, but the Etsy Community has a more pleasant and personal feel.
Furthermore, Etsy Teams allow you to take your collaborations to the next level. These are groups of sellers who work together, often within the same sectors. You can join specialist teams for product sourcing ideas or more general teams to help each other with promotion and advertising.
Access to niche markets
Why should you sell on Etsy? Niches!
E-commerce promotes niche marketing. Large general stores cannot always cater to small, specific interests since there is insufficient demand for those products to cover the expenditures. However, with Etsy, businesses with a concentrated focus can easily reach niche markets and generate a solid profit.
Etsy is the greatest e-commerce market for specialty products like handmade goods and crafts. If your sales approach targets a specific demographic, you may discover that your community already exists on Etsy.
An existing customer base
Building a customer base is the most difficult aspect of starting an ecommerce business. It’s difficult for new businesses to get noticed, and attracting initial clients is no easy task.
Etsy does its utmost to accommodate new and inexperienced merchants, making it easier to get started. When you open an Etsy store, you have the advantage of millions of customers actively browsing the marketplace. An individual website can take years to achieve that kind of traffic.
Outreach has additional advantages. Because Etsy’s search algorithm promotes fresh listings, you’ll get a bump the first time you update your online store listings. Furthermore, the easy and intuitive advertising platform provides you a headstart on marketing, and tiny stores may get by with as little as $10 per week in advertising.
It’s easy to use
Etsy is for everyone. Some e-commerce platforms demand coding expertise, design experience, and hours committed to setting them up, but Etsy allows you to set up a store in minutes.
Many Etsy sellers praise the ease with which new businesses and product listings can be created. The site’s customization options are limited, but template-style editing makes the process easier and more approachable.
Etsy has made it so all of your sales and product statistics are easily accessible for download, making it easier to budget at the end of the month.
Setting up your Etsy store
Now that we’ve convinced you why you need an Etsy store, it’s time to learn how to build one. Follow these steps to set up your shop:
- Make an account on Etsy
To start your shop on Etsy, you’ll need an account. Click on the “Sell on Etsy” link, enter your email address, name, and password, and then click on the “Continue” button. (A Google, Facebook, or Apple account can also be used to create an Etsy account.)
Additionally, if you have an Etsy consumer account, log in with your credentials and then click “Open Your Etsy Shop” to start building your store.
- Set your shop preferences
After that, you will be taken to the “shop preferences” page, where you can configure the basic parameters for your store.
You should choose your default language so you can describe your items in that language, but you can change it once you’ve opened your Etsy shop. You can even translate your page into other languages. Once that is done, choose your native country and the currency you want to use for your listings.
Purchasing in your shop currency may result in currency translation, which is usually 2.5% of the sale amount if your bank currency differs from your shop currency.
As a final step, you will be asked whether you are a full-time vendor, a part-time vendor, or another vendor. Etsy asks this question for its purposes, and it does not affect your ability to open an Etsy shop.
- Choose your shop name
When it comes to naming your shop, be creative. The name of your shop should be intriguing yet easy to remember, and it should reflect the quality and ideals of your products.
Follow Etsy’s guidelines:
- No special characters or spaces
- 4-20 characters max
- No profanities
- No trademark infringements
- Not a name that’s already in use by another Etsy seller
Etsy will suggest alternatives if you submit a name that is already taken.
Etsy offers the following advice on choosing the right shop name:
- Try abstract names
- Try suggestive descriptive names
- Use your name
It is important to spend some time choosing the perfect business name before launching your shop. You can change the name after launching, but it becomes more complicated.
In addition, if you plan to expand your Etsy shop to include a business website, Facebook page, Instagram account, or an official business name, you should learn how to obtain things such as a domain name for your business or a DBA that matches the name of your shop.
- Add items to your shop
You will need to list your items before you launch your Etsy shop. There are different methods for listing physical and digital objects (e.g., printable stationery, patterns, stickers, and gift tags). Make sure to follow these steps for each item:
- Add photos
- Complete your inventory and pricing
- Set your shipping price
- Complete the listing details
- Publish your listing
- Choose your payment preferences
After you’ve added your listings, you’ll need to configure your Etsy payment options.
You can choose between PayPal, check or money order, “other,” or Etsy Payments, which is the most popular payment option. Payment methods included in this option include credit cards, debit cards, Etsy gift cards, store credit, and others.
Currently, Etsy requires that all sellers eligible to accept Etsy Payments do so based on their location. In the past, Etsy accepted PayPal as a stand-alone method of payment. However, starting on May 15, 2019, Etsy requires businesses, including those in the United States, to use Etsy Payments with integrated PayPal.
In addition, if you qualify for Etsy Payments, you must include your bank account and residence address (as mentioned above) in your payment choices if you want to receive Etsy payment deposits.
- Set up billing
Opening an Etsy shop is a country-by-country process.
Certain regions may require Etsy to verify your identity with a credit card. Etsy may charge your credit card for selling fees.
You can enroll in auto-billing if you’re a seller in the United States. That means Etsy will charge your credit card on file for any selling fees you incur, so you don’t have to worry about paying your monthly statement.
- Open your shop
You have now learned how to build an Etsy shop. Your shop will be open once you click “Open Your Shop.”
Your shop’s URL will be in one of two formats:
- https://yourshopname.etsy.com
- https://www.etsy.com/shop/yourshopname
- Customize your shop
You can begin selling online as soon as you launch your Etsy business.
Having an Etsy shop alone isn’t enough. Like a physical store, your online store must be easy to find, attractive, intuitively structured, and constantly updated. The following are some extra steps you can take to make sure your Etsy shop launches (and remains open) successfully:
- Set your policies
- Add a bio and photo
- Rearrange your items
- Use Etsy’s social media tool
- Add additional sections (such as an “about” section)
Optimizing product listings on Etsy
You must understand how Etsy displays listings to buyers first if you want to improve your Etsy business’s SEO.
Etsy determines how listings should be ranked according to various factors when they find listings that match a buyer’s search. They are:
- Listing quality score
- Customer and market experience score
- Relevancy
- Recency
- Shoppers’ habits
- Shipping price
- Translations and languages
And here is how you use those variables to optimize your product listings:
Add quality photos
The size and quality of Etsy listing photos can influence a user’s decision to buy. According to an Etsy poll, the quality of photos is the essential criterion in an online sale for 90% of Etsy consumers.
The more visual information a customer has, the more likely they will purchase a product. As a result, you should include many photographs in your listing, including a back view of your goods and a couple of close-ups.
The quality of your images is also important. Etsy suggests utilizing images with at least 2000px on the shortest side.
Don’t forget to optimize your photos:
- Name You Image File
- Add Alt-Text to the Image
- Use the correct Image Size and Type
Optimize your titles
You may do certain things to improve the visibility of your listings. They work, but they take time.
The title is the first thing you should optimize when generating a listing. There are three key things you must keep in mind:
- Length of title – The length of the title should be between 70 and 120 characters. It must be clear and succinct.
- Title focus keyword – A target keyword is the most important search term for which you want your listing to rank. When choosing your focus term, you should conduct thorough keyword research.
- Use alternative keywords – Instead of using the same keywords in your title numerous times, use alternative keywords to extend your reach and enhance your chances of being found.
Optimize your product tags
If you’re optimizing your Etsy listings, you should pay attention to product tags. Product tags serve a similar purpose to title tags. They may aid in the ranking of your listing and affect whether or not the consumer finds your product at all.
- Quality of tags – Your tags’ quality depends on the keywords and phrases you use.
- Number of tags – Etsy allows 13 tags of a maximum of 20 characters for every listing.
- Duplicate tags – Avoid having duplicate tags.
Write a detailed product description
Give it your all when writing a detailed description of your goods. The more information you include in your description, the better.
A brief or poorly written product description may cause shoppers to move on to products with a more extensive explanation.
Etsy will not rank your listing page based on your product description; other search engines will. Google will build a meta description for your website based on the first 160 characters of your product description.
Offer free shipping
Every buyer prefers sellers who offer free shipping. Shipping prices that are low or free will always attract more people. Furthermore, free shipping can influence your ranking, allowing more consumers to notice your offering.
Resources:
The Importance of Product Photography by Etsy
Marketing an Etsy listing
You know why you need to sell on Etsy, so you opened up your shop. Now it’s time to market your listings by following these steps:
- Understand your marketplace – Check out your competition and potential customer base to see what is being done in your niche.
- Research keywords for your Etsy products – Keywords are key to SEO; find the right ones for your products.
- Link your blog or website to your Etsy shop – If you have more than one platform, and you should, link them together.
- Promote your Etsy shop on social media – This should be one of your first steps!
- Create an email list for your Etsy shop – Don’t underestimate the power of email marketing.
- Find brand ambassadors on Instagram – Brand ambassadors are all the rage these days. They can help you push your product more organically.
- Add free items to a customer’s purchase – It’ll help you bond with your customers and increase traffic.
- Interact with your customers – Promote deals, ask for reviews, and respond to feedback.
Some of the most successful Etsy sellers
If you want to see how effective selling on Etsy can be, take a look at these examples:
PlannerKate is Etsy’s best-selling shop. Kate Antesberger owns it and sells calendars, stickers, binders, albums, planner kits, checklists, vision boards, icons, and other items. The shop has 1,841,378 sales and 61,419 followers.
CaitlynMinimalist creates meaningful and minimalist jewelry. Her inventory includes name pieces, handwriting, and meaningful quotation jewelry. Customers can have their handwriting immortalized in silver jewelry. The shop has 1,574,688 sales and 259,152 followers.
Bead Boat includes over 8,500 jewelry-making and everyday jewelry products. The shop has 1,469,977 sales and 59,364 followers.
Resources:
Most successful Etsy Shops by Niche Pursuits
Tool of the week
Search Engine Optimization (SEO) is crucial.
Marmalead is a shop optimization tool that assists you in determining the most relevant long-tail and short-tail keywords for your listings. It also shows you what consumers are looking for and suggests keyword variations to include in your product descriptions.
Marmalead evaluates your listing, assigns it a grade, and explains why you received that mark. This allows you to improve your listing and attract the attention of your target audience.