With the worldwide pandemic bringing lack of job security, redundancies, and an uncertain future in an ever-changing landscape of the employment market, many are looking for ways to be their own boss and make money online. So is selling on Etsy worth it in 2023?
We all know it’s never a quick fix but with the latest figures released by the US Bureau of Labor Statistics, during August 2020, the number of self-employed in the US reached 9.544 million, a considerable 3.35 per cent increase from the previous month.
So, with our help, you may well be joining the ranks of other entrepreneurs and beginning your own business venture for 2023.
With many platforms available to sell your wares it could be you are thinking of starting a vintage or handmade business and showing the world your creations on Etsy.
But is Etsy still a good place to be and is it worth selling on Etsy in 2023?
Before we head into the details, let’s first start by hitting the takeaway answer.
Is selling on Etsy worth it in 2023? Etsy is now even more relevant. With large increases in users and an unquestionable surge in sales during Q2, 2030, Etsy continues to be a platform still worth selling on in 2023. Aided by recent lockdowns and the pandemic urging shoppers to look for creative, vintage, and handmade items online.
Now you’ve got the definitive answer, let’s drill down a little and look into the background of Etsy so we can more easily understand whether you’ll be able to add it to your selling platforms in 2023.
What is Etsy?
Put simply, Etsy is an American e-commerce website focused on handmade or vintage items and craft supplies.
When Rob Kalin the ‘handmade millionaire’ started Etsy.com way back in June 2005 in Brooklyn, he attempted to add a little humanity to the e-Commerce world, as an antidote to the anonymity of the big players such as Amazon and eBay.
There’s a huge range of categories to show off your creations, including jewellery, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. The only stipulation is that all vintage items must be at least 20 years old.
According to Etsy’s current CEO, Josh Silverman during an interview with LinkedIn has this to say.
“At this time when automation is changing the nature of work, Etsy’s never been more relevant,” he argues. “Creativity can’t be automated.”
So let’s look at a couple of good reasons why selling on Etsy in 2023 is worthwhile.
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Why should I sell on Etsy in 2023?
He goes on to say that anyone wanting to express their identity or style or buy a gift for someone that has a meaning or story then Etsy is the place to be.
And he also pinpoints while the world is clamouring to get on board with the few mass retailers, that Etsy becomes more and more relevant as an alternative.
So does this make selling on Etsy worth it in 2023? If you still can’t say for sure then lets consider some related data.
With large increases in users and an unquestionable surge in sales during Q2, 2030, Etsy continues to be a platform still worth selling on in 2023
It’s also worth noting that during Q2 2020, there were a whopping 60.27 million buyers on Etsy with many of them repeat customers as the stats show that over 40% of Etsy buyers purchased more than one item.
The pandemic helped to push these figures up as frequent lockdowns pushed buyers in search of handmade and vintage alternatives, alongside the huge increase in mask sales.
According to CNN Business, mask sales rose to 29 million as the creative sellers busied themselves with sewing machines to meet the unprecedented demand for face masks.
What are the best selling categories on Etsy?
Non-mask sales were up by a staggering 93% with their top-selling categories being home and living, unsurprisingly, while those seeking to get creative at home helped push up the sales figures by an even more impressive 138%.
How much do top sellers on Etsy make?
Alongside the fact that top Etsy sellers make $10,000 per year or more, and that during the first part of 2020, Etsy’s sales increased by a huge 71%.
With the above data, it does seem that it is indeed a worthwhile selling platform for anyone starting a vintage or handmade store.
So now we’ve seen what Etsy and the stats have to say, let’s find out what the word on the street is and whether crafty entrepreneurs and others with experience on Etsy have to say about whether it’s still worth selling there in 2023.
What do sellers say about Etsy?
Although many Etsy sellers such as homespunloft are able to earn their sole income from Etsy, it seems that it’s important to make sure you ‘don’t put all your crafting eggs in one basket’.
Meaning, make sure you use a variety of platforms in order to make it as profitable as possible..
According to another user who quit their regular day job in order to make a go of their online business, it’s important to consider an Etsy shop and website as support for in-person sales.
It’s encouraging to see that this particular seller’s sales have shown a steady yearly increase.
So now we’ve looked a little more in-depth and found out more about whether Etsy is still profitable in 2023, you might be wondering how to start selling!
Let’s find out.
How do I sell on Etsy?
So if you’re crafty and considering making money online using Etsy, you probably already have items in mind you want to sell.
If you’re not sure it’s a good idea to browse Etsy to see the types of creative goods already being sold.
It’s best to start with a single type of item first for easier marketing and organization. As your Etsy business grows, your offerings can too.
Create your account
It’s really simple to get started with Etsy.
First Create an account and choose a username. Once you’ve done that select your best profile image or logo, write a descriptive storytelling bio, and then fill in all remaining setup fields.
Always make sure you fully understand all the terms of service and policies.
Open your store
Once you have an Etsy profile, navigate to Sell on Etsy (located to the right of the search bar on any Etsy page) to open a shop.
Select your language, country, currency, and shop name.
Make your storefront look as appealing and attractive as possible by using professional images and also add a shop banner.
To learn more about selling on Etsy, you can watch the YouTube video below 8 Big Mistakes To Avoid When Selling On Etsy
Summary: Is Selling On Etsy Worth it in 2023?
Well, we hope that’s given you the lowdown on whether your crafty or vintage business would benefit from using Etsy in 2023. We think it surely will!
As with all platforms, make sure you follow some due diligence and check that you are happy with the terms and conditions before you part with any cash.
If you’re still in the process of wondering whether to launch your own online money-making venture or need some advice on getting your online store up and running, don’t forget to check out our website for other inspiring articles
Remember, It’s often said that a journey of a thousand miles begins with one step. So let us help you on your journey to financial freedom today.
Let’s finish today on another quote from Etsy’s CEO.
“We are choosing to take this opportunity to make significant investments today that we believe can continue to provide opportunities for growth in 2023 and beyond.”
– Josh Silverman, CEO, Etsy”
So what do you think? is selling on Etsy worth it in 2023?
We love to hear from you by using the comment box below to share your thoughts.
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