Etsy is a well-known online store that links buyers and sellers of handmade, antique, craft materials, and distinctive products from independent manufacturers. It has grown to be a well-liked platform for inventive businesspeople who want to offer their goods online. But will Etsy still worthwhile in 2021 with so many online markets available? Let’s examine the benefits and drawbacks.
Selling on Etsy has a lot of benefits, including a sizable consumer base. Over 90 million people use Etsy every day to find one-of-a-kind and handcrafted goods. This implies that you have a better chance of finding customers on Etsy if you have a niche product that fits the market there than you would on other platforms.
Low fees are another benefit of selling on Etsy. Only $0.20 is required to list an item, and Etsy keeps 5% of the proceeds from each transaction. Compared to other online markets like Amazon and eBay, this is significantly less.
Etsy also provides a user-friendly, straightforward platform. Setting up your store, listing your products, and controlling orders and payments are all simple processes. Etsy also offers useful tools to support sellers’ success, including forums and tutorials. Negative aspects of selling on Etsy
Selling on Etsy has a lot of benefits, but there are a few drawbacks as well. The competition is one of the major obstacles for Etsy sellers. It can be challenging to stand out and draw attention to your products on the site because there are so many vendors there.
The minimal control you have over your shop is yet another possible drawback. You risk having your store suspended or even closed if you break any of Etsy’s strict rules for sellers. For sellers who seek more control over their business, this might be irritating.
On Etsy, a six-figure salary is feasible despite the difficulties. You must invest in marketing and promotion, have a distinctive product that appeals to the Etsy market, and deliver first-rate customer service to achieve this. As building a successful Etsy shop might take time, you should also be persistent and patient. Which Country Makes the Most Use of Etsy?
Etsy is a global marketplace with users from different countries. However, Americans make up the bulk of Etsy’s customer base. Statista reports that 81% of Etsy buyers are from the United States, followed by 4.8% from Canada, 4.4% from the United Kingdom, and 2.6% from Australia.
The COVID-19 pandemic in 2020 had an influence on Etsy, as it did on many other enterprises. Nevertheless, despite the difficulties, Etsy’s sales increased in 2020. The platform’s gross merchandise sales (GMS) climbed 118% year over year to $3.6 billion, according to Etsy’s Q4 2020 financial report. This expansion was fueled by a rise in the popularity of handmade and original goods as well as Etsy’s capacity to adjust to shifting market dynamics.
Is Etsy still worthwhile in 2021? The solution is based on your objectives and your product. Etsy can be a terrific platform to sell on if you have an original, handmade product that fits the Etsy market and you are ready to put time and effort into your shop. However, you might want to take other online marketplaces into consideration if you’re searching for more control over your store or a bigger clientele. In general, Etsy is a fantastic choice for creative business owners who want to sell their goods online.
On Etsy, you are allowed to run more than one business, but you must set up and manage each one using a different account. There can only be one shop per account, according to Etsy’s regulations. Therefore, you would need to open individual accounts for each business you wanted to run on Etsy.