Etsy founder Kalin
Grab this. On newstands only. It’s not yet online but well worth your reading!
Key points for me:
*In 2010, Etsy shops sold M$314 in merchandise.
*400,000 accounts on Etsy (not broken down between various selling and buying accounts).
*Fewer than 1000 sellers on Etsy make $30,000 or more.
*When Etsy expanded internationally, complaints about low-cost knock-offs increased.
*A top seller who at one point sold $96,000 one year went “back to the craft show circuit”.
*Etsy is great to get your business off the ground.
We all have different reasons and goals for our businesses and shops. We all have different family and work and life constraints. But I know we all want to do what we love and make money doing it.
…. After reading this insightful, though not entirely or thoroughly specific with its data, it just reinforces what I’ve advised you in my many previous posts:
*Sell your clutches off-line at craftshows, in-home hostess parties of your own, school functions, church fundraisers, arts festivals, local shop, and bridal boutiques.
*Be original and never copy. Have a distinct style that is yours.
*Do not compete on price since you are selling a handmade good that is truly one-of-a-kind. Do not under-value and under-price the worth of your goods ie. don’t give it away!
*Increase your chances of making a sale by taking advantage of the consumer behavior of “taste uncertainty” and band together with other clutch sellers.
Grab this issue. Oh, if you’re in it and have a small business, you should subscribe to this magazine too! (No, I don’t get paid to say that. Wish I did…) 🙂