Episode 170 - Etsy Alternatives - Should I Move My Store Off Etsy?
Recent price increases at Etsy makes this a good time to consider: Should you move your store off Etsy?
Custom Apparel Startups · Mark Stephenson, Marc Vila
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Show Notes
The recent price increase for Etsy sellers has got a lot of their long time customers looking for alternatives (from 5% of everything you sell to 6.5%) - and it's reminding others of Etsy's other money-making practices, like selling advertising for your store and charging you a big % of THOSE sales too.
https://www.geeky-gadgets.com/etsy-seller-fees-25-02-2022/
First, let's take a look at what that price increase means to a business like yours.
Then do some math to see if it's actually WORTH moving.
Explore alternative platforms or additional platforms.
And finally, map out a few options you might want to explore.
Who should move FROM Etsy?
If you have a brand new start up, and are not willing to invest cash into advertising elsewhere, Etsy / Ebay type of sales are probably still your best way to be found. It will cost you a lot more (potentially) but you don't have to pay big $$ for ads, plus the time to learn ads or hire an expert.
If you have a brand people know, a following, or a way you get people to buy online already... then it might be time to move.
e.g. if you are selling stuff now and tell people to go to Etsy to buy, you can probably tell them to go to your online store for a better rate.
What does it cost to open your OWN store?
Shopify:
Store Fee - $29 - $299 / month (you probably want the $29-$79 range)
Credit Card Fees - 2.4 - 2.9% plus 30 cents per transaction
Big Commerce:
Store Fee - $29 - $299 / month (you probably want the $29-$79 range)
Credit Card Fees - 2 - 2.59% plus 49 cents per transaction
Wix:
Store Fee - $27 - $59 / month
Credit Card Fees - 2.9% plus 30 cents per transaction
Etsy:
20 cents per listing
6.5% of transaction + 3% Credit Card fee and 25 cents per transaction
Ebay:
3-15% fee to sell. This varies a lot based on category.
Seems like most people will fall in a 12-14% range.
How will you get business?
You lose the platform of search. Part of selling on Etsy is being the store people go to for those unique items and your product gets found.
How else might you advertise?
- 1. Google Search / Bing Search
- 2. Social Media
- 3. Display on Niche websites / etc