So you've decided to start selling on Etsy, amazing !!!
But... Etsy has 2.5 million sellers and 60 million products... Before producing or purchasing stocks you need to make sure that customers will buy your products. Last thing that you want to do is sell a product that no one wants !!!
Did you know ? Listing products on Etsy costs you 0.2$ per product ? So, publishing listings also comes with a pricing tag. In addition to the stocks or materials that you need to purchase in advance.
Know you competitors - Etsy sellers and leading Etsy's stores Research Etsy statistics , there is a lot of information, google it. Find what are the most popular categories among handmade Etsy sellers. Here are the top 10 leading categories : #1 Home & Living #2 Art & Collectibles #3 Jewelry
#10 Books, Movies & Music
Understand what your potential customers LOVE to buy
~80 million buyers have purchased goods via Etsy in 2020 . However, that doesn't mean that all published listings were sold. It means that you need to do your homework and find out what are the "HOT" products that Etsy buyers are searching for and willing to open their wallet. Here are the rules for finding the right products :
Sales - next to each product on Etsy you will find the total number of sales. It's an important indicator if buyers actually bought this product.
Reviews - product with high number of total reviews (good or bad) it's an indication that buyers searched and purchased these items.
Bad reviews - read the bad reviews, learn from if there are issues with this product and if it's risky to sell it.
Dates - you want to know if it's a seasonal "hot" product or a product that sells through the year. Ideally, you better sell a product that will generate steady income and customers are looking to renew.
Amazon and eBay - although you are looking to sell on Etsy you can get similar insights by exploring Amazon and eBay based on the point that I've mentioned above. It's a good reference and indication for Etsy buyers as well.
Competitive advantage
You really don't need to invent the wheel, selling "Hot" products that are already for sale on Etsy is a wise decision. That said, you still need to stand out for other sellers. There are various ways you can differentiate your shop and products :
Pricing - you can provide a discount, add a free gift or offer lower pricing than existing sellers.
Service - provide the fastest and best service than the existing sellers. Make sure to communicate your unique services in your store and social media channels.
Branding and social media - partner with influencers, create your own community or be part of existing social communities that talk about your products so potential buyers will know you.
Conclusion - opening an Etsy store comes with an investment cost. Your goal is to reduce the risks by learning the market and your potential buyers. It might require some time and effort but it will surely pay off !!!
Now start google :-)