The Etsy survey results have been published, please see this Storque article for a summary.
Etsy has compiled the detailed results into a pdf file you can download here
Etsy publishes their survey results
22 Responses to “Etsy publishes their survey results”
Leave a Reply
You must be logged in to post a comment.
March 8th, 2008 at 12:58 pm
Good points, rita.n. but since the ecommerce section of the site really is incidental and not at the center, to claim that the site is somewhere to make a living flies in the face of every other activity that has, basically, taken over. The site is not about selling. It has turned into a site that created stores that have fit into their model, which is reinforced by the Survey Questions and Survey Results.
These honed and shaped stores are then given constant free promotion. While some new sellers might be welcomed into this select group, it would probably only be to replace one that leaves.
The whole development of the site is what perplexes me, since the Survey was posed in language that seems to continue to support everything but ecommerce. All the non-commerce areas of the site are of little value because they do not generate sales or cultivate new buyers. They attract and groom stores that meet the mold. Daily “news” articles have become ads - that’s all they are. The Virtual Labs and critiques are also for those who want to be accepted into the select group - again, they do not contribute to increased sales or new buyers.
What is Etsy? It is not an ecommerce site, and its mission has changed drastically from a place to buy and sell into a social networking site for beginning crafters. It has made itself into a self-perpetuating social network that attracts likes to likes. The sellers and stores will soon be no different than seller that happens to also work for the site. Same age, same array of products, and same approach to buying and selling. All the other non-commerce activity will eventually take over the site, and the revenue will dry up, and it will either live on supported by ad revenue, or become a sub-facebook for the young craft afficianados. Nothing of any real lasting value in the world of ecommerce. A competitor who can focus only on ecommerce would have a steady stream of stores willing to try it out in a matter of days. I do hope someone comes up with a real ecommerce alternative and soon.
The site may be able to lug around the Survey Results to drum up more investor support, but I hope someone is asking, where the heck are the revenues? Do you charge for all the free promos? Do you charge for the Labs? Do you charge for the enormous discussion boards? Do you charge for Shop Critiques? Oh, you make 20 cents on each new listing? More stores unable to sell will eventually stop listing. End of story.
March 8th, 2008 at 11:40 am
while i understand that etsy is “trying to help” newer people make more money. IN THEORY. The fact is, that the people they have hired who did/do sell are by enlarge NOT making a good living selling on etsy. Lets take stopsandstarts as an example. Over the course of 2.5 years she has sold not quite 500 items. Even if i assume these items cost $50 each (which seems unlikely since what she currently has listed all sells for around $20) she made 23,000 in 2.5 years. That’s not a living. I have not heard that any of the sellers they have hired have training (like college degrees in business or marketing or whatever) in selling other than what they’ve done on etsy. Most of them are quite young (under 30) and didn’t start doing anything like this until Etsy which means that they have less than 3 years experience.
This is the blind leading the blind. While there are a COUPLE of sellers who really make good money selling on etsy, i’d be curious to see how many LIVE on what they sell. Very few i would guess.
The point is… sure, etsy is offering advice. Unfortunately, they don’t really know what they’re doing. I can say i’m offering critiques of legal texts, but factually, if i don’t have real training in legal text writing, and i haven’t ever done it, or gone to law school, etc., my critiques are worth much.
I suspect that the critiques the Lab people offer are opinions, by enlarge. They don’t know any more about what makes one successful selling on etsy than i do. None of them are outrageously successful. Additionally, even the people that are can’t tell you some formula. it is the right product, the right timing, good pictures, etc., and DUMB luck. why are some yarn sellers more successful than others? no one really knows. I can tell someone else to do all the same things i do, and they may be more successful, less successful…who knows.
So, all this “critiquing” they’re doing that takes tons of man hours? i just don’t think it’s worth it. (except as a way to get more sellers to sell…that is how they make they’re money!)