Have you ever had a dream of making millions selling your crafts or unique items online?
Etsy, a popular platform for handmade and vintage goods, seems like a dream come true for many creative entrepreneurs. But while a few sellers strike it rich, most struggle to make ends meet.
So, what sets the big-time sellers apart?
We dug into the data from top Etsy shops and discovered four secrets that could help you level up your own store. Keep reading if you are interested to learn some smart insights from top shops selling on the popular marketplace and Etsy’s Shared Data
Plus, we’ll give you a reality check on what it really takes to make it on Etsy.
1. Excellent Customer Service
Top Etsy shops go above and beyond for their customers.
They respond to messages promptly, offer personalized recommendations, and make sure their customers feel valued. Excellent customer service can lead to positive reviews and repeat business, both of which are essential for long-term success.
Think of it like this: would you go back to a store where the staff was rude or unhelpful? Probably not.
The same goes for online shopping.
A Note : Etsy rewards sellers who provide excellent customer service with the Star Seller badge. This badge signifies to potential buyers that your shop is reliable and trustworthy, making them more likely to purchase from you.
2. Know Your Audience and What You’re Selling
The most successful shops on Etsy know exactly who they’re selling to and what they’re selling.
Most of their customers are women, so they focus on stuff women love, like home decor, jewelry, and craft supplies.
Think of it like this: You wouldn’t open a burger joint if everyone in town was vegetarian, right? Same goes for Etsy. If you want to sell, you need to offer what people want to buy.
And don’t try to sell everything under the sun.
The best shops pick a specific niche and stick to it. They become the experts in their field, offering a wide variety of products within that area. This helps them build a strong brand and attract loyal customers.
A Note : Shops like “I Love Lotus” focus exclusively on healing crystals, while “New Moon Beginnings” offers a slightly broader range including healing crystals, jewelry, and aromatherapy items. This focus is consistent across successful shops, which avoid selling a mixed bag of unrelated items. Instead, they build a brand around a narrow focus area and go deep with many products in that niche.
3. Patience is Key
You won’t become an overnight success on Etsy. This is guaranteed and you will be no exclusion.
It takes time to build a successful shop. The most successful sellers have been around for years, honing their craft and building their reputation.
So, don’t get discouraged if you don’t start raking in the cash right away. It takes patience, perseverance, and a lot of hard work.
But if you stick with it, you might just be surprised at what you can achieve.
A Note : The top 10 stores have an average age of over 8 years, demonstrating that patience and perseverance are crucial. These stores have had time to refine their product offerings, perfect fulfillment, build traffic, and garner many positive reviews. New sellers should manage their expectations and understand that it may take years to build a successful store.
4. Price It Right
Think affordable, not luxury.
Most people shopping on Etsy aren’t looking to spend a ton of money. The top shops keep their prices low, around $10 per item on average. This makes their products more appealing to a wider range of shoppers.
Remember, Etsy isn’t the place to sell high-end designer goods.
It’s about unique, handmade, or vintage items that people can buy without breaking the bank.
A Note : Top Etsy shops generally have lower prices compared to less successful shops. The average price in the top 10 stores is around $10, while the bottom 10 average about $17. Lower price points reduce the risk for shoppers and align with the average transaction value on Etsy, which was $42 in late 2022. Affordable products appeal to the typical Etsy shopper, who may not be a big spender.
5. More Stuff, More Sales
It might seem obvious, but the more stuff you have for sale, the more likely you are to make sales.
The top shops have thousands of items listed, while the less successful ones have only a few hundred.
Imagine you’re at a flea market with a few tables. The more stuff you put on your tables, the more chances people have to find something they like and buy it.
But remember, it’s not just about quantity. The quality of your listings matters too.
Take good photos, write clear descriptions, and use relevant keywords so people can easily find your products.
A Note : There is a direct relationship between the number of product listings and the number of sales. The top 10 shops have an average of over 4,000 listings, whereas the bottom 10 average around 871 listings. More listings increase the likelihood of attracting shoppers and making sales. Each listing is an opportunity for a shopper to find your store in a sea of 5.4 million active sellers. Additionally, having numerous listings can serve similar purposes to running ads but at a lower cost, as each listing can bring in multiple clicks without extra charges.
The Reality of Etsy
Etsy is a competitive marketplace. It’s important to be realistic about your expectations.
In 2022, the average seller on Etsy made about $2,169 a year. That’s not a lot, especially when you consider all the time and effort that goes into making and selling your products.
But don’t let that discourage you! With the right strategy, hard work, and a bit of luck, you can still make a decent income on Etsy.
Just remember to focus on the things that matter: knowing your customers, offering the right products, listing as much as you can, providing excellent customer service, and keeping your prices competitive.
So, are you ready to take on the challenge?
If you’re passionate about your craft and willing to put in the work, Etsy could be a great platform for you to share your creations with the world. Just remember, it’s not a get-rich-quick scheme. It takes time, dedication, and a lot of hustle.