Etsy is a US-based online marketplace founded in 2005 with total revenue of more than 1.7 billion dollars as of 2020. The platform works as an intermediary between customers of different shades – artists, craftsmen, collectors of vintage products, etc. In this article, you will learn how to sell on Etsy.
Etsy marketplace is mainly associated with niche products like home goods, collectables, art, vintage items, jewellery, clothing, and holiday items.
It operates a peer-to-peer (customer-to-customer) e-commerce model. The seller and the buyers are private individuals or micro-businesses owners. Etsy provides a wide range of services to help sellers run their businesses, including payments, shipping, and advertising solutions. In addition, there are various onboarding and educational resources.
Unlike other e-commerce giants, everything on the Etsy marketplace is made, collected, and sold by sellers. These independent business owners also manage their orders and inventory while Etsy acts as the middleman providing the platform for business owners to find and attract customers.
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Items You Can Sell On Etsy Marketplace.
- Vintage items
- Handmade items
- Personalised made-to-order items like rings, necklaces, clothes, or mugs.
- Arts and craft supplies.
- Home décor items
- Paper goods
- Small-batch cosmetics
- Clothing and accessories
- Digital art prints.
How Much Does It Cost to Sell On Etsy Marketplace?
You will not pay any setup fees on Etsy but will be charged for listing and selling items on the platform as follows:
- $0.20 per listing for four months, after which you pay another $0.20 to keep the listing live.
- 5% transaction cost on each item
- Payment processing fees depend on which payment method you choose. Etsy Payments option attracts a 3% + $0.25 payment processing fee. Other payment options like Paypal may attract different fees.
- Etsy pay-per-click ads are placed automatically based on your daily ad budget.
You can also choose to use additional services that come with fees, including:
- Shipping fees: option to purchase shipping labels through Etsy; fees vary based on the carrier.
- Currency conversion fees: only charged if your listings are in a different currency than your payment account.
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How To Set Up Shop On Etsy Marketplace.
Sign Up on The Platform.
To sign up as a seller, visit etsy.com and click “Open your Etsy Shop” at the top right corner. You will be redirected to a page to provide all the necessary information for your store sign-up.
Do Your Research.
You need to use best SEO practices to enhance your shop’s visibility to prospective customers. Your shop description, bio, listing titles, tags, and product descriptions should use appropriate keywords.
Always remember to take time to research similar products on the marketplace, so you know which keywords to target. Also, find out about price points for similar product listings on the site, as this will help you set competitive prices for your items.
Stock Up Your Shop.
Having set up your shop on Etsy, it’s time to create product listings. Include multiple high-quality photos of your products as this offers your prospective customers multi-dimensional views of what they are buying.
Optimise Your Etsy Shop.
Once you are done stocking up your shop, you will need to customise your shop preferences and settings.
How To Optimise Your Etsy Shop
To optimise your Etsy shop, you need to do the following:
Etsy marketplace platform allows you to link your shop homepage to your social media pages – Twitter feed, Instagram, Facebook, and other social media outlets for easy promotion of your listed items to your family and friends.
Message To Buyers
You can also add a customised message that your customers will get automatically whenever they purchase. This could be a thank you message or any other type of information you want them to see.
Congratulations on setting up your new shop. From now, you need to monitor the traffic your shop is generating. Suppose you discover that customers are not finding your products; what do you do? In that case, you may need to revise your listings with new keywords, upload more photos (if necessary) and consider ads for specific keywords to increase sales.
Would you like to know how to increase sales and win more customers? Click on this article and learn more.
Advantages Of Selling On Etsy Marketplace.
Low Listing Fees.
Etsy charges $0.20 per item listing for four months, and for new sellers, this fee is affordable. The marketplace platform also has a low barrier entry for sellers as there are absolutely no other eligibility criteria except your computing device, internet connection and product inventory.
Etsy marketplace provides you with the best opportunity to market and sell your niche products like vintage items, homemade goods, and crafts. It’s where people go when they can’t find what they want elsewhere. In other words, it is a mainstream outlet for non-mainstream products.
Ease of Use.
Etsy marketplace offers you a seamless user experience. It requires no coding skills or design knowledge to use; instead, you can set up your shop in just a few minutes.
Large Customer Base.
As a seller on Etsy, you have the advantage of millions of visitors seeing your product listings. This is massive web traffic, especially for new sellers with little or no recognisable brand listings.
Again, Etsy’s product search algorithm prioritises new listings by giving you an automatic boost the first time you populate your online store with new listings.
How To Buy On Etsy.
Prospective customers on the Etsy marketplace have nothing to worry about as the website is so easy to use. You only need to browse the well-curated platform to purchase what you want. And once you find something you like, click on the “Buy” button to make a purchase.
Some of the categories include:
- Clothing and Shoes
- Jewellery and Accessories
- Home and Living
- Toys and Entertainment
- Wedding and Party
- Art and Collectibles
- Craft Supplies and Tools
FAQs On Etsy Marketplace.
Do I Need A Business License To Sell On Etsy?
No, you don’t need a license to sell on Etsy. Selling on the platform is open to hobbyists, craft makers, and creative entrepreneurs alike.
Is Etsy Marketplace Safe?
Selling on Etsy is safe as their platform has SSL encryption, fraud detection systems, and other security measures to protect both buyers and sellers.
Can I Sell Digital Goods on Etsy Marketplace?
Yes, you can list and sell digital downloads like audios, images, or text files on Etsy the same way you create a listing for physical products. To do this, you first need to upload the digital products file so your customers can receive them as soon as they make a purchase.
How Can I Offer Free Shipping on Etsy?
To offer free shipping on the platform, follow these steps. Click on Your Account > Shop Manager > Settings > Shipping Settings > Free Shipping Guarantee > Get Started > Next > Set
In conclusion, selling on the Etsy marketplace provides you with a worldwide reach to market and sell your products. It’s an exciting journey with a lot of income generation potential, so take that step today and feel free to contact us on our WhatsApp no +234 08038874148 for further enquiries.
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