Top Etsy Sellers 2018 (Can we find a common link?)
Etsy is an amazing place to shop for the most interesting and unique handmade items on the planet. But, the question that often arises from aspiring entrepreneurs is-can you really make money on Etsy as a shop owner? Not only can you make a nice income, you can completely crush it! To prove it to you, I’m going to show you few shops that are laughing all the way to the bank.
First, let’s talk about the Etsy platform and why it is such an incredible business model.
- Etsy is an e-commerce website which sells only handmade or vintage items and supplies/digital products.
- Unlike Amazon or Ebay, Etsy is highly targeted niche platform, attracting millions of a very specific type of customer.
- Etsy has grown tremendously over the past few years and continues to become a leader in the global marketplace of handmade goods.
- The demand for handcrafted items continues to increase as buyers become more and more interested in the development and process involved in making unique and handmade items.
- The Sellers on Etsy are also often buyers as well. Many sellers use the supplies that they find on Etsy in his or her own finished product.
So what gives me the authority to speak on the topic of monetization? Well, I’m glad you asked.
Actually, my shop on Etsy has pulled in a whopping $167,000 in a little over 2 years. You can Check out my shop “Beaded Tassel Co.” here.
You can read more about my journey here in one of my blog posts. My $167,000.00 Etsy Side-Hustle.
So what amount of income are the top Etsy Sellers pulling in?
According to Etsyrank, Here are the top Etsy Sellers as of September 2018.
Kind of crazy right?
Let’s analyze for a moment the top 3 stores to see if we can glean any valuable information.
- Bohemian Findings. This shop comes in at the number one spot with almost 1.5 million total sales. (Please note that is total number of sales, not the dollar amount which means that the actual dollar amount is much higher). As I poke around their sight, I notice a few things right off the bat-they have a large inventory and have been on Etsy since 2010. They sell beads, findings and other jewelry supplies. So what’s so special about them that they are ranked the number one shop on Etsy?
In my opinion, as I comb through their site, it’s pretty obvious to me that they dominate first, by pure volume. They carry over 18,000 jewelry findings and supples. As I read their story, I also see a deep love for their business and customers which is gold in any business. They have grown from selling a few extra charms in their house to a healthy business employing 14 people in their town. Great job Bohemian findings!
The number 2 spot is;
2. CL Beads. Number two on the list is yet another Jewelry supply shop. This clean and simple looking shop has over 500,000 sales under their belt. They carry over 11,000 items and have over 164,000 five star reviews. CL Beads started on Etsy in 2008 and they sell findings, charms pendants along with a wide selection of Czech beads. The company is based in Canada as well. (Very interesting because that is where Bohemian Findings are located as well). Their “about us” page is not as personal as Bohemian Findings, but they imply that they value customer service. I’m positive that being one of the original Etsy shops plus the large amount of inventory has significantly helped them gain the number 2 spot.
The number 3 spot is;
3. Nicole De Bruin. Number three on the list is a shop where the name “Nicole De Bruin” gave me no clue as to what they were selling. After I arrived on their site, I shouldn’t have been surprised by what I saw…take a guess as to what they were selling…yup-jewelry making supplies! Are you seeing a pattern here? I actually wrote about this in my mini-ebook that includes the 7 reasons for my success on Etsy. It’s called “MY SIX FIGURE ETSY SHOP” and you can grab it here on sale for a limited time.
Back to Nicole’s shop. As I look around her shop, I note 2 things right off the bat.
- Her shop opened in 2009.
- She has a whopping 15,000 items listed in her shop.
Nicole De Bruin specializes in small charms, although there are findings and beads as well. Her shop has no fancy branding nor spectacular photos, but a huge assortment of apparently what her customers are looking for.
Here are 3 takeaways from analyzing the top 3 shops on Etsy.
- All three shops are selling a supply.
- These shops have been on Etsy for many years.
- They all have a tremendous inventory and a large number of 5 star reviews.
Does this mean that you can’t compete with the “Old Guys”?
Absolutely not! Remember, we only covered the top 3 sellers of all time on Etsy. But what about the mom who sells digital goods who is raking in 50,000 per year? Or the shop who sells planner kits and stickers who has sold over 400,000 products in just 4 years? What about the t-shirt shop which creates funny memes for kids which pulls in thousands of sales per year? Don’t forget your’s truly’s shop which has pulled in almost $200,000.00 in sales in a little over 3 years?
Thinking of opening up your own Etsy shop? Here are 5 reasons why you should.
- You don’t have to be a crafter or designer to open a shop. There are thousands of items you can sell whether it’s a supply, digital product or vintage item.
- Etsy makes it a breeze to open up a shop. The platform is very user friendly and there is a ton of support from the community if you get stuck on something.
- Etsy is free to join and only charges $.20 USD to list each item. After an item sells, each item is charged a 5% transaction fee.
- Etsy has built in targeted traffic at your fingertips. You also have the option to advertise your listings.
- You get to be your own boss, set your own hours and potentially build a huge business.
When I started my shop “Beaded Tassel Co.”, I had no idea that I was going to be pulling in a full time income in my spare time. I believe part of my success was the fact that I picked the right niche and niched down in the early stages of my business while increasing my product line later on.
That leads us to the next question; What should I sell on Etsy?
If you find yourself clueless as to what to sell on Etsy, here is some helpful advice on where to start.
5 tips on how to figure out what to sell on Etsy.
- Do your research. Dive right into the Etsy platform and search around for the shops with the highest sales and star ratings. Click around their shop. What are they selling? How long have they been in business? What are their prices and how many items do they have in their shop?
- Ask yourself this question. What am I passionate about? When it comes to products, what would I love to sell and be excited about. Believe it or not, this can make or break your shop. If you are not passionate about what you are selling, it will show through in your shop. Beware however, you may love your hobby, but you still have to do your homework and make sure there is a demand for your type of product. When starting out with a new shop, this is a mistake that I see happening all of the time.
- Choose products that are evergreen. Meaning, find the products that always seem to be in demand and don’t follow trends necessarily. This can be anything from jewelry making supplies, party favors or coffee mugs. The list goes on and on.
- Turn your hobby into a side-hustle. Whether you love woodworking, knitting or handpainting golf balls, I assure you there is a customer out there for your product.
- Check out what people are searching for. Head on over to Google Trends or Uberconnect and you can type in key words to see what people are searching for and the type of search volume each keyword has.
Be your own boss!
One of the wonderful things about having your very own shop is that you can learn and grow with it! Many shops on Etsy start with a only few products and hopefully, if they are listening to their customers, will figure out what their customers are looking for simply by connecting with them. This will insure that the shop owner can keep restocking the items that their ideal customer truly wants and/or needs. It sure does help take the guesswork out of trying to figure out what to sell. Let your customers be your guide!
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