An ideal platform for passionate and creative sellers, Etsy has been supporting the entrepreneurs from the day of its inception back in 2012. Emerged to be among the most preferred online portal by small and medium sized business owners, it has become an ideal place to buy customized, vintage or personal artefacts. So if you are still wondering about its worth, as of 2020 there were over 60 million active buyers on Etsy! To add to this, the annual revenue of Etsy was more than $818 million in 2019, and has shown a growth of more than 11x since its inception.
Be it a passive income source or a full time occupation, with changing customer needs and a shift in the buying trend it is important to understand the market inclination for a successful business. Most of the small time players are earning around $40,000 annually, while these earnings may go up to $600,000 for few others. It all depends on the marketing plan, strategy and most importantly the product category you are choosing.
As per our report, the most preferred category to shop on Etsy is Home & Living, followed by Arts & Collectibles. Pet supplies, Electronics and Shoes being the least preferred categories. This being said, sometimes it becomes difficult to choose a product from a competitive category that fits all parameters. Moreover, selling a product that is already sold by many competitors will leave your business astray. Thus, it becomes utmost important to select a product that is niche and distinguished, yet has all the potential to thrive. For the ease of our readers, we have compiled a list of 10 best things that you can sell on Etsy in 2021 and make profits. Let us review them in detail.
- Handicraft Items
- Kids Clothing
- Home Décor
- Personalized Gifts
- Party Supplies
- Soft Toys
Handmade candle business is one of the fastest booming industries in the world. With the sales of over $3.2 billion per year from US alone it has become the most popular home décor item in the market. Statistically speaking, 7 out of 10 households use candles for one or the other reason. Besides, most of the western religious sentiments are attached with candles, making it an ultra-fast consumable product.
There are no specific license requirements to setup your business, and a small investment in raw materials, workspace and tools are generally sufficient to get started. However, you need to focus on the unique selling proposition of your candles by working on its essence, affordability and packaging to be a step ahead of your competition.
It is also important to define a target market depending upon the nature of your product (economical or premium) and the price segment.
Although starting a jewelry business requires a lot of planning and a clear understanding of your competition, but a person having an aesthetic personality and comprehensive knowledge about the latest fashion trends can definitely excel in this field of business. A report from Statista has forecasted the costume jewelry market to reach $60 billion by 2027 making it a dominant category on online portals as well.
Being a very broad category, you can choose multiple product lines to start with. There is a good demand for artificial lockets, beads, earrings, and bracelets for both men and women. You can create special designs to cater specific ethnic groups or religions as well. Lately, the beads and necklaces worn by traditional African women are among the top most preferred vintage jewels in the United States. You can play around this similar concept to find a style that you enjoy making and selling.
If you are an artisan or have an interest in handmade artefacts, you can certainly find success by selling handicrafts on Etsy. Not only will you be spending your time dedicated towards your hobby but you will also be financially more secure owing to this money making business. Etsy has a dedicated sub category catering to custom made items that allows customers to buy unique handmade decorative items.
Buyers today are looking for unique decorative and hand made products, that are not much available in bulk. This exclusive demand has created an opportunistic marketplace for sellers and manufacturers. Besides, by selling customized handmade products you can offer exactly what a buyer is looking for, which further gets you recognition and success in this industry.
Fashion category on Etsy is huge; you can see a wide range of products ranging from designer dresses to loungewear. Surprisingly, when it comes to kids clothing, not many players are able to make it big on this ecommerce portal even though it is a highly opportunistic category.
Parents are usually flummoxed while shopping for their kids, the particular reason behind this being the monotony in the designs, uncertainty with the size and most importantly the lack of assortments. A new brand may take a while to gain customer trust, however a detailed listing of your product and a professional photo shoot will definitely help in influencing the buying decision.
Home décor is an integral part of interior designing and has its significance in improving the aura and to provide a home like feeling. Besides, interior décor plays a significant role in eliminating anxiety and stress. Be it a simple rug, designer wall art or a vintage vase, your home décor store on Etsy can help people create their dream homes.
Customized home décor items are also becoming a trend among consumers. Almost everyone is looking for a unique home décor idea that matches their style and personality. By creating ‘made to order’ product and giving it a personalized touch depending on the customer is another business opportunity that can be looked upon.
If you have a fondness for plants and a passion to build your own nursery, starting an online store on Etsy can definitely boost your bottom line. There are multiple ways you can start your business; by either buying plants from wholesale market or by growing them in the backyard of your own house. As per reports, the worldwide plants and flower market was valued at $42,400 million, making it a good opportunity for all the entrepreneurs looking to start their online business.
There are a lot of untapped niche plant categories that are still not available on Etsy. If you can analyze their offline and online demand on other shopping portals and create your own store, you can attract a lot of buyers.
There is a constant demand for gift items that have a personalized touch to it. Be it wedding anniversary, Christmas day or a birthday event, a customized gift makes the affair even more heartening. Unlike other sopping portals, where buyers usually do not have an option to customize, personalized products from Etsy add meaning and gesture to their emotions.
You can start by identifying your niche in this category; it can range from personalized mugs, photo frames and coasters to pillows, key chains and shirts.
‘Party supplies’ is another popular category that is in constant demand on Etsy. You can offer all sorts of gifting and decorating options from tableware to balloons and banners that can go well with all kinds of occasion. Try to create your own themes and list all the required products that are essential for building this theme. Based on this, you can post your idea of the theme and all the essentials required to organize an event.
It is also important to calculate the cost of your supplies and the pricing strategy of your competitors. Based on this analysis, create your store that offers high value towards the price paid.
Starting an online store which creates and sells its own potpourri is another excellent idea for home based entrepreneurs. There is no significant investment required to start this business, moreover the demand for these products continuously prevails in the market.
Instead of reselling the product, you can increase your profit margins by manufacturing your own potpourri. A mixture of dried leaves, petals along with essential oils can create a perfect blend of fragrance. Additionally, try to work on the product packaging which can certainly separate you from the rest of the competition.
Having a soft toy is a quintessential part of every childhood. They are frequently gifted products and go with all types of occasion. Moreover, the cost of manufacturing them is not very expensive and you can begin your journey from the comfort of your bedroom.
Before you start it is important to identify your niche and build your store based on that theme. You can either create soft toys for infants, a gifting store for couples, or something that gels well with the living room.
Homemade Products to sell on Etsy
As we plunge further into the 21st century, an ever increasing number of online customers now prefer home based natural products over the factory made goods. The reason behind this shift is the awareness towards organic and chemical free ingredients used for manufacturing which are both beneficial for self and the environment.
Evident from the recent press release by Etsy, there has been a 19% increase in searches for ‘customized perfume’ a 15% increase in ‘customized soap’, and a 13% increase in ‘customized beauty’. This demand for custom beauty products has created an opportunity for personalized homemade business owners to make a lot of money by following their passion.
So if you are still unsure in choosing the right niche, we have some unique ideas for handmade products that you can sell on Etsy.
Handmade artistic potteries are in huge demand on almost all the ecommerce platforms as well as in the offline retail markets. If you are a professional potter, chances of achieving success on Etsy are even higher owing to prior experience in manufacturing. In case you are a beginner yet passionate about entering into this business sector, you can start by creating simple and basic products that do not require much skill and effort or you can consider joining pottery classes to hone your skills.
Sized at over $223 billion in 2019, the pet care market is expanding rapidly with an annual growth rate of 5.9%. The demand for nutritious pet food, grooming kits, and personal training courses are some of the trends that have caused uplift in the market revenue. You can start your own pet supplies business by making home sewn collars, shoes or nutritious snack bars with good shelf life.
Crochet has always been in demand and all the major clothing brands embrace this fact. The popularity for crocheted baby hats, scarves and cowls has seen a huge surge lately and there are more than one million crochet products available on Etsy. Yet, there is a definite need for crocheters to produce unique and distinct designs since most of the sellers are producing similar products.
5 Easy Things to Make and Sell on Etsy
Internet has changed the way people used to shop. Nearly 2 billion people purchase goods online and the number is rising exponentially. This demand has created an opportunity for millions of sellers to outgrow their business online.
So if you are planning to start your online store, it is time to get creative and outrank your competition. One of the easiest ways of doing it is by making DIY products. While DIY products are fun to make and require less investment, you can earn boatloads of money while selling them.
Selling on Etsy is a perfect way to generate a passive source of income all throughout the year. The ease of doing business allows many rising entrepreneurs to start their store with bare minimum investment. Moreover, it’s relatively simpler to setup your store on Etsy as compared with other online portals.
But the bigger question here is what to sell on Etsy?
Etsy is a brilliant marketplace for unique, vintage and handmade goods. Unlike other ecommerce platforms, traditional and wholesale business models are not practical here as most of the products being sold here are niche and have their own unique selling proposition. So if you are thinking about working from home to start your online store on Etsy, an out of the box thinking mixed with some creativeness can undoubtedly help in outgrowing your business. To give you a head start, we have come up with some ideas that are easy to make and sell on Etsy.
Porcelain Painted Dishes
Using decorated Porcelain dish to accessorize home interiors is an age old ritual as well as the current fashion vogue. These are used as dinnerware or as a decorative artefact. There are many online portals where you can source the raw materials in bulk to get started. Even if you are not good in arts and still prefer to go in this line of business, these can be imported from Asian countries in bulk without making much investment. However, it is important to understand the quality and its properties before you price them. Dated or vintage porcelains are usually priced higher as compared to the modern machine made dishes.
Painted Terracotta Pot
Selling painted terracotta pots is a fun, creative yet profitable business venture. The cost of setting up this business is absolutely minimal, and despite this not many have entered into this line of business. You can start your business by finding local suppliers that deal in plain terracotta pots and setup a small corner in your house to paint and decorate these pots yourself. In case you are not good at painting, there are many plastic stencil templates available on Amazon which can be helpful to create beautiful designs on the pots.
Wooden Wall Clock
Starting a wooden clock business that can be operated from home does not require much skill and has a potential to generate profits worth $60,000 annually. All you need is some of the housing components required to make a clock. These are readily available online as well as in wholesale stores. Try to be innovative while creating your designs, since most of the online stores are filled with boring and repetitive designs. The demand for these goods and a widespread acceptance by people has made it pretty clear that an innovative and a niche product in this business category will definitely appeal to the customers.
If you knit as hobby you can turn your love for knitting into a profitable business venture online by selling mug cozy. This usually helps to keep drinks warm and is yet another emerging business opportunity that is both fun and crafty. Besides, the only raw material that is required to make one is a box of yarn. For someone who has not tried their hands in this craft, there are many tutorials available on online that can help you get started to sew a perfect mug cozy within minutes!
Don’t forget to add value to your product by using organic wool.
With environmentalists raising their voices regarding the excess usage of paper, it is opportunistic to create awareness among every household to switch to cloth based napkins. Besides, these are more durable and usually cost less in the long run. When it comes to manufacturing, the raw materials can be brought in bulk and several designs can be made within a small office setup.
How to sell on Etsy successfully
With millions of traders and entrepreneurs competing on Etsy to reach global audience, it can become quite difficult to survive and thrive on this ecommerce platform. Even as the gross merchandise is increasing every year, the strife between the competitors is getting fiercer. However, there is good news; only 18% of the sellers on Etsy are full time entrepreneurs, making it an ideal opportunity for someone who can invest his time and efforts to successfully thrive in the business.
This being said, it is important to keep few things in mind to sell on Etsy successfully and to make your business a hit.
Multiple Payment Options
In this digital era it is important to provide multiple payment options to customers. As per a report from Baymard Institute, 7 out of 100 customers abandon their cart since there were not enough payment methods. Moreover, not every shopper feels comfortable in sharing their credit card details online resulting in a loss of sales. So even if you are a new store owner, it should be your number one priority to add all the relevant payment options (Credit cards, Debit cards, Etsy Gift Cards and Etsy Credits, PayPal, Apple Pay and Google Pay).
Adding a product description plays the most significant role in influencing the buying decision. Moreover, it plays a vital role in improving the organic search ranking of your product. The details about the product origin, raw material, dimensions, images and its shelf life are the primary mandatory listing requirements and should be provided to the customers in detail. Apart from the textual description, adding relevant images covering all sides of the product is also imperative.
Among the factors that influence the buying decision of a customer, free shipping of products plays a dominant role. As per a research conducted by Wharton University, 60% of the businesses use free shipping as a successful marketing strategy. Additionally, it provides you an edge from your competition as these products are generally ranked higher in search. To top it all, free shipping benefits your business by increasing customer lifetime value which eventually creates loyal repeat customer segment.
Search Engine Optimization
Opening a store does not necessarily mean that you will start getting orders from day one. Optimizing your listings to improve your product search is therefore very crucial. Unlike traditional SEO techniques that are complex and requires a lot of hard work to optimize a page for search engines, improving your page score on Etsy is quite straightforward. With a precise use of long tail keywords that define your product and its category, along with a descriptive content matching the images you can get your product to rank in front of the right audience.
Tips for Beginners to Sell on Etsy
Etsy works as an intermediate connecting buyers with sellers, and is a global marketplace for beautiful handmade products and vintage items. For beginners, while it is important to work on the business idea and growth strategy, but it is equally important to build a subsistence plan considering the marketing and processing fees levied by Etsy. In order to list your product, a standard listing fee of $0.20 is imposed on each item every four months. Additionally, for every sale you make there is a 5% transaction fee deducted from the selling price and a 3% processing fee for availing Etsy payments. You may also want to include advertisement fees under your fixed costs, since the newly listed products are almost invisible among competition.
There are lot of misconceptions about running an online business and most of them are tactless. To be successful on Etsy you need to have a strong marketing plan, growth strategy and an innovative mind that helps you in decision making. Many aspiring entrepreneurs often dream big while setting their goals, but surprisingly very few work methodically to achieve these benchmarks. It is therefore necessary to understand few important business aspects to safeguard a new business and build a successful online empire.
Post Quality Photos
“A picture is worth thousand words”
Posting high quality and descriptive images that are self-explanatory is one of the most important key to running a successful business online. While Etsy only asks for front images, but it is highly recommended that you upload at the least 4 professionally captured photographs online. Another good practice to be followed is adding size chart (if relevant) or the dimension of your product against a scale. This provides a better picture to a customer and influences his buying decision.
Providing a good customer service is vital for any profit making business. Be it post purchase product complaint or a pre order enquiry; try to address them every time. 33% customers of United States agreed that they will consider switching the brand after a single instance of poor customer service. Besides, providing a good customer service helps in getting repeat orders from same customers. Moreover, a happy customer always recommends a brand to his friends and family; word of mouth marketing completely free of charge!
Know Your Competition
Spend a lot of your spare time in researching your product competitors and other successful sellers from your niche. You will gain a lot of insights in determining your shortcomings which can help you in long term gains. Equally important is to understand their pricing strategies and promotional offers.
While it is a good practice to keep eyes on your competitor’s price point, however, deciding your product pricing to match your competition may turn out to be a precarious strategy. Instead, try to include all the selling proposition of your competitors into your product, while making yours completely extraordinary.
Social media plays an important role in building your brand image. It helps to build a relationship with your customer while spreading brand awareness. Moreover, social platforms are a good way to promote your product and build a multi-channel sales platform as an additional business opportunity.
Consider building a social profile on Instagram for a start, the platform serves as an ideal channel for cross promoting and influencing other renowned influencers. Furthermore, you can gather a lot of attention from young generation by creating an IGTV video, reel or a really engaging Instagram bio.
Product packaging plays the most significant role in influencing the customer’s buying decision. Consider this as the first communication between your product and the buyer. As per research, one third of the buying decisions are made based on the packaging of the product. Not only is it responsible for faster decision making, but they also attract the eyes of customers in a crowd, giving you an extra edge over your competitors. Additionally, an attractive packaging generally invokes an urge among the customers to try them once.
Etsy is an amazing market place for crafted handmade goods. If you are thinking about starting an online store, there can’t be a better time. Etsy can prove to be a great platform to help you flourish your business. In this blog post, we shared some of the easiest product ideas that can be made & sold right from the comfort of your house. While these business ideas are relatively easier to conduct and can lure many potential customers, it is important to understand that only a trustworthy seller can thrive in long run.