Growth. That is my main goal for all of us in 2018. Through growing my business and product offerings, I intend to help you grow your business and product offerings. I want all of us to succeed this year. To accomplish this, one of my initiatives was to start selling products on Etsy.
You may be wondering why I chose to open an Etsy shop rather than sell products through my own website. The decision was a no-brainer for me. I’ve been a longtime fan of Etsy and regularly recommend opening an Etsy shop to most of my clients. With their enormous pool of customers and seamless checkout process, Etsy becomes an unbeatable platform for anyone just starting out.
Let’s dive deeper into the reasons why I think opening an Etsy shop is a smart move for any small product-based business.
ETSY HAS A REMARKABLE CUSTOMER BASE
As I’m writing this post, in April 2018, Etsy has 31.7 million active buyers. This is perhaps my favorite reason for selling on Etsy. That number is amazing! And there is no way any new shop can compete with that amount of traffic. A regular Google search for your product type will bring up thousands of results, and very few of them will point directly to your specific online shop. But an Etsy search is much more precise and targeted—giving your shop and products a better chance of getting noticed. Nowhere else can you launch a product line with a built-in audience that’s already searching for what you have to offer.
ETSY HAS A TRUSTED AND SECURE BUYING EXPERIENCE
Etsy has been in business for over a decade, and in 2017, sales came in at 3.25 billion dollars, making them established enough for customers to trust they will have a positive buying experience on their site. Plus, their top-notch security promises that your customer’s information is protected. With privacy and security being a major concern in the online marketplace, housing your shop on a secure site like Etsy puts you at an advantage.
ETSY OFFERS AN INEXPENSIVE SOLUTION TO GETTING STARTED
Unlike a platform like Shopify, there are no monthly fees for having your shop on Etsy. Their minimal fees are as follows:
Etsy charges 20¢ for each product you list in your shop.
Etsy takes 3.5% of the sale price for each sales transaction in your shop.
Etsy charges a payment processing fee of 3% + 25¢ for US sellers. Fees for other countries may vary.
For example, the fees for a product that costs $10 would be:
Listing fee: 20¢
Sales transaction fee: 35¢
Payment processing fee: 55¢
Total fees: $1.10
Your profit: $8.90
Those fees are not too shabby for all that Etsy has to offer!
ETSY IS A WELL-ESTABLISHED SELLER PLATFORM
Through their seller handbook, Etsy offers an arsenal of tips, tools, and resources to their seller community. They are dedicated to the success of your shop. Plus, their platform has an optimized search engine that, when correctly maximized, leads to higher rankings and more eyes on your product . . . potentially 31.7 million sets of eyes, that is. If you’re anything like me, SEO is a subject you just can’t wrap your brain around, but Etsy takes care of all that for you. They are there for marketing and sales support way before you have your first buyer.
Etsy offers a perfect solution to anyone getting started with online products sales. But while I’m a huge fan of Etsy, it would be remiss of me not to mention that I think it’s also important to establish your brand off of Etsy too—whether that be through setting up a blog to promote your shop, creating a duplicate shop on your own site, or promoting your products on Instagram. Etsy is a very strong business today, but you never know what will happen tomorrow, and you should have a presence elsewhere in order to build your individual brand.