IS ETSY WORTH IT ? Pro’s and Con’s of Selling on Etsy in 2021

is etsy worth it is it worth starting an etsy shop in 2020 well everybody's experience is different i'm going to be sharing with you my list of pros and cons to help you make an informed decision to help you make a decision that's right for you if it's worth selling on etsy welcome back to my channel guys if you are new here my name is samantha i make one video every week on entrepreneurship topics like this careers and skills development i hope that you will consider subscribing and hit that notification bell so you catch future videos and without wasting much time we're gonna go straight into the pros and the cons of selling on etsy the first pro is that it is super easy it is so easy to set up an etsy shop i've already done a video i will link it in the cards and in the description box below that you can check it out but guys etsy is so user friendly you don't have to be a tech guru you don't need to know anything about setting up a website it really is so easy they make everything so easy so simple and seamless you can literally set up your shop and have a sale within the same day that's how easy it is so if you want to check out the video that i did as i said i'll leave it linked in the description box and in the cards you just check it out it is so easy yeah i think that's just it there's no better way to say it it's just so simple it's so easy second to this is that etsy is so cheap to maintain it really is so affordable especially if you're just starting out and you don't want to have like a fixed cost of maintaining your website before you have sales before you have customers before you actually know how people will take on to your product or service so etsy only charges you 20 u.s cents per listing so apart from this the only other charge they take from you is five percent transaction fee or like a commission on you selling your product on their platform it is a business for them at the end of the day so you do have to pay something but you could always factor this into your own selling price however the con that is attached to this is that five percent actually adds up and is a big amount to pay if you're making ten thousand dollars a month five percent really becomes a lot more money than if you're selling a thousand dollars or making a thousand dollars a month so in these cases it might actually be better for you to then go opt for places like shopify where you can have your own website and pay a flat fee of 29 i think it's 29 now the minimum package and um yeah and you just run your shop and then you have this flat fee you're not really it's not really fluctuating with your sales but for the most part especially if you're starting out and you are building your brand i would recommend that you start with etsy and you know lower your cost really keep your expenses and costs at the bare minimum while you develop your brand another pro is that etsy is a trusted platform you because etsy is a trusted platform and a massive audience really a global audience for you people who are coming there are willing to put their credit card and make a purchase without really getting the worry that you know they might pay for something and not receive it there are a lot of scams out there so people are really cautious and worried when they're trying out um or trying to buy something from an unknown site so if you are starting and you haven't really established your brand it would be great for that because people are put they trust in it and they know that if they have any problems with you as a seller they'll just report it through the etsy support so this really gives people and buyers the comfort and assurance that they need that they're going to get a legitimate sale through through the platform so if you have a brand that you are building or establishing that people don't really know yet it is an excellent platform you having an international a global audience actually through which you can showcase your product and also get a lot of valuable feedback from people regarding your product it can serve as a great market research tool because when you sell something to someone you've got like a great chat system that's integrated within the etsy app as well so you can actually follow up with your customers and ask them if the product met their expectations and here you get to hear from them what they wish they could have seen or had on the product or if it does meet the expectation they will let you know as well so it really is it's really a fantastic platform for that and this messaging platform is also really great for buyers or customers to write to you and ask you questions about the product that they're considering to buy so it really is so interactive and you can actually get to feel like you know your customers more on a personal basis as opposed to just a big massive story people just come they buy and they don't really have that interface of contact with the person who's actually selling the product um the disadvantage or con of etsy being such a massive platform is that it makes it so hard for you to be discovered especially if you're just coming in there are millions of artisans selling unique items so it's so easy for you to get lost in this pool in the sea an ocean of sellers millions of artisans who are selling unique items it's so competitive and you have to up your social media game and your photography your photos just have to be a good and the best representation of your product use the right terms to truly and rightly describe your products at least when people are searching it you know it will actually show up on the top pages because rarely do people scroll to like page 20 when they're looking for something unless they are not actually seeing the thing that they want so you want to optimize your listings in a way that allows you to be on those higher pages when people search so another big disadvantage for me when it comes to etsy it actually comes in two parts is that it's really hard to get referral sales and also really hard to develop a personal brand very rarely do people actually go and say i got it on this particular shop on etsy so while people may speak well of your product and where they got it from it might not actually result in direct sales like customers coming to you it's just it like they're for them it's like i put it on etsy very negative assad negativity so now on to something a little more positive etsy handles your taxes for you where taxes apply will charge the customer and then take the money from you as a seller at the end of the month when you pay in your bills so it's really simplified and i think it's one of the biggest greatest pros of selling on etsy i've got a friend who's selling on ebay in australia and she has to do all her taxis on her own and it's hard work the next one is a bit tricky it's both a pro and a con etsy shows on the shop when you go to an etsy shop it actually shows how many sales a seller has made since they started selling so this is a pro in that if you have sales and if you have a lot of sales customers are more likely to buy from you because they can see oh people actually have been buying from the shop it's trusted and i can buy but whereas if you're actually just starting and you don't have any sales and somebody likes your product they really want it but they're like oh i don't want to be the first person to buy from the shop so that can actually deter that person from buying from you and then it makes it a bit harder to get those first few sales so having said that though there are a lot more things that etsy shows the customers that encourage people to buy from you say you have products that are kind of low in stock it will highlight right next to the product like oh only one available or only two left only three left this encourages people to buy so this feature these combined features of telling you when a product is low in stock and also mentioning how many people actually have it in their carts encourages people to buy so if there's a product there's only two available or one and it's available in 17 people's carts chances are somebody's going to make that purchase sooner rather than later say for example you offer free shipping they will put a highlight next your product says free shipping and if your products on discount that highlight will be there as well it also shows that people are coming back so if somebody comes to your shop and they buy a product and they buy again etsy records that and actually puts it on your store profile so so when a customer is coming and they want to buy from your shop they can actually see a note that says people are coming back to the shop so that encourages people like hey people are buying from the shop and they're actually coming back for more so i think i can buy from this store confidently because people like to follow people people always want to go where other people are going or buy what other people are buying so this really does help you out and it looks like my list of pros is much higher than my list of cons which is a great thing so the next pro is that the etsy analytics are awesome they help you know how people are finding your shop the keywords that people are using to find your products and this can also help you to start developing products in response to what your customers want it shows you and tells you how many people have visited your shop in a given period of time and the sources are they coming from facebook instagram are they coming from whatsapp or are they coming from google are they actually coming from people searching on etsy which is a search engine in itself so you kind of want to know where to direct your efforts and to see like where your customers are coming from and etsy analytics really help you to do this they really help you get an insight into your shop your traffic and your customers so as we said earlier etsy is quite competitive there are millions of artisans who are selling unique handmade items it's not always easy for people to find your product as good as it is there are millions of people who are selling items similar to yours maybe better or worse but you want people to actually have a glance at your product and to click on it so i would recommend and it's advised that you pay for etsy ads this is a disadvantage that you know what if you do want your product to rank up higher on those searches you would need to pay for etsy ads however there is an advantage to this is that it's actually quite affordable for as little as one dollar to 50 us dollars a day so this allows you to control your budget and actually monitor and see which efforts are yielding better results for you so more pros coming other pros of selling on etsy is that you can actually offer coupons you can offer discount coupons to people who have liked your product so they get like message or email notifications that you know you're offering a discount to that item that they have liked and this encourages people to buy from you and you can also send coupons to people who've added your product into their shopping cart but haven't actually made the final decision to make a purchase i i hope i'm not overly selling etsy here but another great thing about etsy is that they let you set up your own shop policies so it's literally having your own website within their website and you have control over the guarantees that you make to your customers your shipping policies when you ship and which shipping agents you will use how you handle your refunds and returns and you can actually use this information or these policies to build customer confidence to encourage them to make a purchase and to come back to your shop for now these are my top pros and cons for being an etsy seller i hope that you found this video useful and valuable but what's more important is that i hear from you what do you think do you think it's worth it to start selling on etsy in 2020 please let me know in the comment section below i love to hear back from you do subscribe share and i will see you on the next [Music] one

Channel: Samantha Dika

Views: 8,232

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Id: dSapLsmgYDQ

Length: 12min 6sec (726 seconds)

Published: Thu Oct 08 2020