We all love Etsy for a variety of reasons. It’s easy to use. It has a built-in community of passionate buyers. It helps creators share their creations with the world. For many Etsy sellers, that’s probably all they need to know.
Still, to the uninformed or inexperienced, Etsy is still “that little craft shop” where customers go to buy one-of-a-kind, handmade items made by hobbyists.
Nothing could be further from the truth.
In fact, if you’re here at Sale Samurai, you’re serious about expanding and optimizing your Etsy business. It’s the mall where you opened your shop. It’s the trade show where you raised your kiosk. In the brick-and mortar world, you’d want to know if that mall is going to being in foot traffic or if that trade show is going to have a high attendance. Why wouldn’t you want to know more about where you entrust your digital business?
We’ve gathered a comprehensive guide of important facts about Etsy: its business, its customers, and its buyers. Whether a buyer, a seller or a shareholder, this information shows a robust platform for anyone starting a product-related business on their own.
Product Category Statistics:
The most popular category on Etsy is housewares and home décor, which bring in $3.2 billion in sales every year. That is more than twice as much as the second-largest category, which is jewelry and personal accessories.
On the Etsy marketplace, there are more than 50 different types of items.
The pandemic not only raised Etsy’s profile as ecommerce soared, but it was also a place where artists used a new necessity as a canvas. In August of 2020 “face masks” was the top Etsy search. Face covering sales skyrocketed in 2020, earning $743 million dollars.
Sales and Revenue Statistics:
In 2020, international buyers made up 36% of Etsy’s gross merchandise sales, which added up to $3.7 billion
Etsy became a public company in the United States in 2015, 10 years after it was started
Etsy makes most of its money from the marketplace, seller services, and other Etsy fees
The marketplace brought in the most money, $1.3 billion in 2020, or 75.58 percent of all revenue
Sixty-one percent of Etsy’s gross merchandise sales, or $6.27 billion per year, are made through mobile devices
In 2020, Etsy’s Seller Services, which include advertising, shipping labels, and the Pattern site, brought in $422.5 million
Etsy is used by 4.36 million active sellers and 81.9 million active buyers, for a total of 86.26 million active users
Each month, more than 32 million people use the Etsy app on their phones.
43% of sellers use the Etsy mobile app as well as the website to keep track of their sales
Who Are Etsy Sellers?
Most of the sellers on Etsy are in the U.S (62%)
California, with 14%, has the most Etsy sellers in the nation
Women make up the most Etsy sellers at a whopping 83%
The United Kingdom is the second-highest group of sellers outside the U.S., with 30% of international sellers residing there
The highest-earning sellers make $10,000 or more annually
The average seller is 39 years old
82% of Etsy sellers surveyed said that they intend to grow their business
Since opening, the top Etsy seller in the US has made more than 1.2 million dollars
Multi-channel retailers sell their goods through a number of different channels – 61% percent of Etsy sellers are multi-channel retailers.
Etsy marketing cost the company $500.76 million in 2020
The average cost of a click on an Etsy ad is between US $0.20 and $0.50.
In 2020, 3.21 million videos were added to Etsy listings – before June 2020, sellers could only post photos
The following KPIs (MBA-speak for “key performance indicators”) are the most critical to monitor in order to ensure success for your shop:
Conversion rate – This shows how many people come to your shop and buy something. Divide the number of orders by the number of visitors to get your conversion rate. In Etsy Stats, you can keep track of this.
Visitors – It’s important to know how many people come to your site because that has a direct effect on how much money you make. Both Etsy Stats and Google Analytics can be used to keep track of visits. Google Analytics is the only way to keep track of each unique visitor.
Traffic source – It’s important to know how people find your shop, whether it’s through a direct link, a referral, or a search engine, so you can tailor your marketing efforts. Use Etsy Stats or Google Analytics to keep an eye on this.
Bounce rate – This KPI is the number of people who leave your website after only looking at one product. You want people to look around your shop, not just leave right away. So, a low rate of people leaving your site is a good goal. Google Analytics can keep track of this.
Numbers and cryptic abbreviations aside, none of this information is worthwhile unless your own shop is properly set up for success. Sale Samurai’s proprietary tools will optimize your store and listings for better searchability, show how you fare against your competition and more.
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