In this Etsy.com review we take a look how you can sell on Etsy to make a living online. Yes, Etsy might not be as well known as Amazon or Ebay, but still attracts a particular type of astute buyer looking for something more handmade rather than mass produced.
What is Etsy?
Etsy is a marketplace where people around the world connect to buy and sell handmade and vintage goods. Their mission is to change the way people shop online and to help nurture the handmade and vintage industry.
They were founded in 2005 and currently have 1.6 million active sellers and 24 million active buyers so don’t think there isn’t wiggle room for you.
So you’re probably wondering what does ETSY stand for, but it appears to be just a made up word. However, one suggestion I found is ‘Everything Thing Shoppers Yearn’ which is a nice thought.
How Does Etsy Work?
Etsy is just like any other online marketplace. Sellers list their goods and buyers browse through the website looking for interesting things to buy.
But rather than list the items individually you actually set up an online shop in Etsy. This is free and allows you to customize your buyers experience.
However, the difference with Etsy.com is their focus is on the Handmade and Vintage market, and as yet they haven’t shifted from this position.
They encourage community participation and have ways to share your products with other like minded people.
Let’s take a look at the Etsy.com review video…
Selling on Etsy
Selling on Etsy is easy but does take a little more thought than setting up a basic auction on Ebay. Here’s a summary of what you’ll need to do before you start selling.
- Create a shop
- Design a logo
- Make your products
- List your products
- Find your price point
Create a Shop
As Etsy sellers are distinguished by shops, your first challenge is choosing a name for the shop. But take a little time here as you’re essentially setting up your own brand.
Make the name short and memorable, but just as with finding a domain name, don’t be surprised if your shop name idea is already taken.
You may need to think outside the box a little and you’ll want to make it memorable enough for people to remember and share.
Tip: Here’s what I use to find domain names for my websites, and if you find the web domain is available you should grab that too, as you never know where this selling on Etsy journey will take you.
Design a Logo
Again the Logo is going to represent your brand. And although some people don’t spend a lot of time choosing or designing a logo, you’ll want to make this as professional as you can.
But hey you’re a creative person so that shouldn’t be a problem. But if you are then using this free Fiverr gig will help you to get a professional designer to design your logo for you.
Make your Products
Ok, you probably had plenty of product ideas from the start, but don’t go into mass production just yet. It’s better to make prototypes or one-off items and see if they will sell.
Just creating one of each item is enough, to dip your toe in the water and will save you a lot of time and money for materials.
List Your Products
Now you’ve made your products it’s time to list them to see what the market really thinks.
It’s great that your family and friends think your products are great, but how many can you expect them to buy?
You need to test the global market.
Go ahead and list some items in your shop.
Find your Price Point
Finally, we get to talk about money.
Yes, you can expect to make money on Etsy, but how much depends on the type product you sell and the price you set.
Generally, these are two of the indicators for how successful you’ll be at selling products on Etsy. No one wants a product that’s priced too high and certainly there has to be a market for what you are making.
Sadly quality is something people have to experience and generally people won’t pay more just because you say it’s a better quality. They need to try it for themselves or get a review or recommendation from someone who has already bought the product.
Feedback is important, especially if you are selling premium products.
So don’t get fixated on quality until you’ve already built a strong online reputation.
And although you need to factor your time in making the products, you’ll need to do a little research on who else is selling those items.
But don’t despair, your goal isn’t always to be unique but rather to be supplying the market needs.
If someone is already selling a similar item on Etsy then go by their pricing model as they’ve likely done all the hard work for you trying to find the right Price Point.
The exception to this rule is if you make a better quality product, then it’s ok to raise the price as astute Etsy buyers sometimes prefer quality over price.
Tip: Use the Analytics in your Etsy shop to determine if people are looking at your products and if they are then you only need to discover why they aren’t buying.
So that’s the basic on selling on Etsy, so let’s have a quick look at things you want to sell on Etsy.
What to sell on Etsy
Now, the obvious fact is out of the way, you’ll need to ask yourself what are you good at?
And now isn’t the time to be all ‘yeah, but what I make isn’t very good’ and filling your head with self-doubt.
If someone has ever commented on your stuff and said ‘wow, I really like what you make’ or better still has asked for you to make one for them, then I’d start there.
But as this is going to be a passion project or side hustle to start with, you’d better enjoy what you’re making, or the novelty soon wears off after you’ve made your 100th one.
And don’t worry about having a broad interest as you can use sections in your Etsy shop to keep items grouped.
Also, consider making things with a $20-$50 price point as this will be easier to maintain a production line rather than things you only sell for a few dollars. Imagine all those overheads of making and shipping low-cost items.
Now I could give you examples of things to sell on Etsy, but they’d probably be outdated by the time you are reading this, so I won’t.
If you want to sell popular items then go ahead, but expect a lot, and I mean a lot, of competition.
But, the best advice I can give, is to just get started and list something and let the market steer you in the right direction.
And if you find you have a hit on your hands then think of items you could sell as a companion to your best seller, or simply have a theme of products for your customers to choose from.
So what to sell on Etsy is totally up to you, but think long term rather than jumping on the latest fad idea, or you’ll be continually changing your product line-up.
Etsy Affiliate Program
Etsy.com does have an affiliate program where you can earn an online commission for promoting and selling products from the Etsy Marketplace.
The standard commission rate is 4% and is on a par with Amazon. But unlike Amazon, Etsy attracts a niche customer so it may be easier to sell to your audience.
Note: As the Etsy Affiliate Program is designed to promote sellers and the Etsy Marketplace, you are ineligible to apply to the program if you are already a seller on Etsy.
As you can see in this Etsy.com review there are some great benefits of setting up an Etsy store. And if you are the sort of person who is good at making things then maybe you have a chance of selling to the 20+million global market.
I like that the marketplace already serves the handmade and vintage niche so you’ve already found your buyers. You just need to learn how to sell to them.
Potential Earnings: 7 MONEYBAGS
Time Required: 2.5+ hrs
Thanks for taking the time to read this Etsy.com Review and if you have any questions, come and find me on Twitter @365waysto and I’ll see if I can help. Otherwise, take a look around and discover some of the best ways to make money online.