Etsy is an excellent and unique platform to buy or sell its products and cater to millions of customers worldwide. Customers are directly connected to sellers online. Etsy is generally a very safe and secure platform, and one can really get their hands on genuine, high-quality products.
Handcrafted, arts, crafts, and vintage goods are the most selling and dominate most of the sales that the company makes. Etsy is unique and gathers a lot of attention as the products sold are one of a kind and special. One can be sure of receiving a distinctive and personalized product and also get a chance to connect directly with designers, artists, and creative entrepreneurs.
The company stands by its abbreviation, which says " Easy To Sell Yourself," as it promotes and encourages individuals to create products and be a part of their wonderful team. Since 2012 Etsy's customers have nearly quadrupled in numbers which have garnered over 50 million shoppers to date.
What Is An Etsy Store?
Etsy is a highly popular e-commerce website where handmade, handcrafted, and various other arts and vintage goods are sold. It's a peer-to-peer platform launched back in 2005 by Haim Schoppik, Chris Maguire, and Robert Kalin and later joined by Jared Tarbell. Etsy had already garnered $26 million in sales and around half a million users within just two years of the website launch.
On Etsy, a customer is buying products directly from an individual who may produce them in his backyard and not from a mass production manufacturing company. Therefore, Etsy can most definitely prove to be a game-changer if you are looking to sell or buy something that is unique and valuable.
Being Designed in such a way that it's pretty simple to use for both the parties, i.e., seller and buyer, it becomes one of its main advantages among many, which include having a niche market with a global reach across various geographical locations along with having a huge customer base. In addition, the platform self-reported that 87% of Etsy's sellers were identified as women back in 2019.
On average, a seller can make about $44,380, which can get a lot more if one puts their back into it. However, a transaction fee of 5% is charged every time one makes a sale through Etsy.com, which goes directly to the company. In addition, sellers are charged with a $0.20 listing fee per item for their store.
How To Open An Etsy Store?
One can open their Etsy store by following the below steps.
Step 1. One needs to register themselves on the "sell on Etsy'" link and then filling up details like name, email address, and password.
Step 2. The next step would be to select your shop preferences; here, you can create and choose basic settings for your store, starting with a preferred language.
Step 3. Followed by the step which would be to choose a desirable shop name as long as it follows the below mentioned Etsy Guidelines.
Here are the Etsy guidelines you need to follow when registering an Etsy Store
- No profanities,
- No trademark infringements,
- No spaces or special characters,
- Must be at least 4 to 20 characters,
- No name which is already in use by other Etsy sellers.
Step 4. The next and one of the most important steps would be to list your products in-store by adding their name, description, size, colour, type along with accurate and informative pictures.
Step 5. After completing the details of the listing and uploading an appropriate thumbnail, one can move on to completing and setting up the inventory and pricing. One must make sure to set final shipping prices such that it makes them a decent profit and is within the customer's expectations.
Step 6. The next few steps would be setting up your preferred store policies and guidelines along with customizing your shop with an accurate and informative bio and detailed photos.
Step 7. The next most important step would be to set up payment preferences like a credit card, debit card, PayPal, etc., followed by setting up the billing.
Step 8. The next and final step would be to open your store by clicking on "Open Your Shop.” Your shop will then be open, and the URL would be in one of those two formats https://www.etsy.com/shop/yourshopname or https://yourshopname.etsy.com.
Etsy could prove to be a really great stepping stone to test your product reach and acceptance along with your time, money, and business management skills. If you can put even some effort into your business, it can benefit you highly and can take off in a matter of months or weeks. Just like a flower takes time to blossom similarly, even a unique and memorable business idea can take time to reach masses and gather customers.
Things To Remember When Opening An Etsy Store
There are a few pointers that one needs to look after before opening an Etsy store, such as
- Making sure that your product or goods are ready and deliverable.
- Making sure you have a well-set up Shop with a clear idea of what, when, and how things are to be done.
- Making a reasonable and achievable business plan and sales management.
- Never give up in the starting phase and try to keep on going through hardships for at least a couple of months as that's when actual growth can be seen.
- Having too many product listings can actually cause more damage than profit.
- It's better to focus on a few high-quality and trending products.
- Make use of SEO, marketing strategies and social media advertising to help the business with that much necessary boost.
- Manage your budget for advertising and marketing and it holds power to make a huge crowd interested and willing to get their hands on your product.
Opening an Etsy store can really prove to be a great idea and can bring colossal cash flow if managed and run systematically with discipline. Just as most other digital platforms and e-commerce sites, Etsy functions on audience reach and interaction and therefore one must work on it. Etsy can most definitely prove to be a game-changer if you are looking to sell or buy something that is unique and valuable.
What is the store Etsy?
Etsy is an online marketplace where independent artists and crafters can sell their goods.
Is there a monthly fee for an Etsy store?
Etsy store offers 30-day trail. After the 30-day free trial, you'll be charged a monthly subscription fee of $15.00 USD.
Is Etsy used in India?
Yes, Etsy has been launched in India in 2018.
Is Etsy worth using?
Etsy keeps evolving to be a better platform for both sellers and buyers. It is one of the quickest and easiest ways to get your handmade products online. it is quite worthy to be used as it has low financial risk.
Must have tools for startups - Recommended by StartupTalky
Subscribe to StartupTalky
Get the latest insights delivered to you right in your inbox