Hi Pam, I worked out years ago that total Etsy fees are approx 22%, or approx 34% if from an unwanted and very annoying Etsy off-site ad. We have VAT in the UK which goes on every element of our Etsy fees, which is why it is higher than Etsy lead us to believe
Hi Pam, great video. Don’t know if you know this or if anyone as had these messages, 1, a lady wants to offer me £1000 dollars to buy my shop, marked it as spam. 2, messages off Etsy that my shop is temporarily suspended, wanting my email, Etsy already has my e mail, marked it as spam too. Let your followers know. Thanks Pam, I have 84 digital kits for journaling , im paying about £3 per month for renewable listing fees after 3 months for listings, with no sales. I hardly make anything when I make a sale, even working out fees, live in the UK.
I have a simular experience, every sale cost twice as much as I recieve. I have also been offered money to buy my shop. Soon after that, I had a suspicious sale from a shop owner that gave me a low rating without even a request for a refund or exchange first.
Ah yes way way too many scammers out there. Glad you realised and marked them as spam. We talk about them quite often on the Saturday show I am so sorry your shop is struggling, yes all those fees really add up when your sales are low
thanks Pam, its great to have a UK perspective for once, the Uk often gets forgotten by youtubers, most of the time you and Starla are the only two that mention the UK
For me, the fees I've paid are: 1. transaction fee: 6.5% for each sale 2. CC processing fee 3. transaction fee: for shipping 4 listing fee 5. offsite ads For my 223 orders last year, all of those fees were 14.97% of my gross product sales (just my products, no shipping or sales tax). So far this year, it's 13.67%. I don't run ads and I've only had 5 offsite ads charged since I started in April 2023 (over 250 orders). EDIT: after watching the whole video, I should clarify that I'm in the US and I only sell to the US. My most popular item sells for $40, though it was $30 for most of 2023. Where the payment processing and transaction fees become more expensive for lower priced items is in the extra 20 or 25 cents on top of the percentage. 25 cents is more of $10 than it is of $100. So, price your items accordingly.
This was a very informative video pam! You really need to know your numbers when running a business and you have to invest quite some money before starting to make a profit. Makes me laugh when so many are now in shock when etsy starts charging 15 dollars to open your shop. Honestly, if thats too much of an investment you are definitely not ready to start a business. 15 dollars is nothing, especially if you know how expensive other platforms are (charging more than that yearly or even monthly).
Thanks Pam, probably shouldn't have listened to that first thing in the morning 😂🤯 I usually allow about 20%, I've never been able to get my head round all the random fees. It's definitely harder for cheaper items like cards, it always bugs me it's the same listing fee whether something sells for £1 or £100 but I guess there's no way around that. I stayed opted in to off-site ads as I think Etsy does a better job of promoting my items through that than if I did £1 a day ad fee, which I'm sure would go nowhere. I also stopped doing paid ads on Facebook since my Facebook shop disappeared so it seemed pointless. As you say, the commission taken by bricks and mortar outlets, which I have 4, is way higher than Etsy fees so it's certainly worth it for me. I'll listen again when my brain is my awake 😆
Aww yeah it takes a few coffees to get to grips with this And honestly it is impossible to figure them all, we just have to assume a little extra wiggle room and then check how much money is really coming in
Ohh 50% is way too high if they are return customers. Do you add business cards or branded stickers or pens or something for your customers? Or encourage them to sign up to your social media or maling list - so hopefully they can find you without google
@@PamDuthie I send a thank you email with link to my FB group (I need to set up email list sometime) but they just go back to Etsy 😑 without ads on, my sales just disappear. With them on, half the sales are from ads, but I don't sell enough to cover a month's advertising fees (£30 at £1/day min) so it's pointless at the moment...
Thanks Pam, this is what I expected. Living in Canada, that .20¢ is .31¢ depending on the US exchange rate. It is also cheaper to ship to the US then within my own country. I calculate 30% for Etsy fees and the cost of packing materials.
Before watching: listing fee, sold something fee, and transaction fee. On top of that, I also have the off sides ad fee. When I had lots of items, I was also re-listing a lot, and at that time, my fees added up to about 28%. Now, I have fewer items (I am slowly closing my shop), and I never relist anymore, and my fees come in around 24%.
While watching: I have never used Etsy Plus or the Pattern site. I used Etsy ads early on, but they didn't work for me, so I haven't done them in years. I stopped doing coupons on my Etsy shop before they had an easy way to do it (the fees are just so much higher on Etsy for selling crochet pattern PDFs than on Ravelry, or LoveCrafts). My prices range from $7 to $17 Canadian. I wasn't surprised at all at your numbers. I've always known that selling digital items on Etsy leads to much higher fees because of the fixed listing fee. If Etsy wants to be competitive at all in that space, they'd have to drop the listing fees for digital products. ETA: in Canada, we pay GST (5%) on the Etsy fees.
I have been waiting for a video like this for long time and Ilove the fact that you're UK based because we get all these hidden VAT charges other US based people don't talk about. My products are priced around 25 and more and after calculations I always see around in 21% fees lol. Also does the currency conversion fee appear in the payment account where we see the breakdown off all fees?
For the UK we dont have to worry about currency conversion fees as a separate thing, Etsy does that. But some other countries I think have this added, or if someone is paid in a different currency For the UK the only think really is the things like the 20c listing fee where we pay in $, its not curency conversion charge so much but those prices will change depending on the strength of the £
@@PamDuthieI have more high end items selling wedding jewelry but also have low cost items earrings etc. today a necklace sale Etsy took 34% with offsite ad the total sale was $158 with tax and I only got $104 after all fees and tax
Hi Pam, I worked out years ago that total Etsy fees are approx 22%, or approx 34% if from an unwanted and very annoying Etsy off-site ad. We have VAT in the UK which goes on every element of our Etsy fees, which is why it is higher than Etsy lead us to believe
Yes there are so many fees. So many people get a nasty surprise
Hi Pam, great video.
Don’t know if you know this or if anyone as had these messages,
1, a lady wants to offer me £1000 dollars to buy my shop, marked it as spam.
2, messages off Etsy that my shop is temporarily suspended, wanting my email, Etsy already has my e mail, marked it as spam too.
Let your followers know.
Thanks Pam,
I have 84 digital kits for journaling , im paying about £3 per month for renewable listing fees after 3 months for listings, with no sales.
I hardly make anything when I make a sale, even working out fees, live in the UK.
I have a simular experience, every sale cost twice as much as I recieve. I have also been offered money to buy my shop. Soon after that, I had a suspicious sale from a shop owner that gave me a low rating without even a request for a refund or exchange first.
The drop down daily expense of each sale looks like a CVS reciept
Ah yes way way too many scammers out there. Glad you realised and marked them as spam. We talk about them quite often on the Saturday show
I am so sorry your shop is struggling, yes all those fees really add up when your sales are low
Yeah the details of every fee when you make a sale its almost comically long
thanks Pam, its great to have a UK perspective for once, the Uk often gets forgotten by youtubers, most of the time you and Starla are the only two that mention the UK
You are welcome.
For me, the fees I've paid are:
1. transaction fee: 6.5% for each sale
2. CC processing fee
3. transaction fee: for shipping
4 listing fee
5. offsite ads
For my 223 orders last year, all of those fees were 14.97% of my gross product sales (just my products, no shipping or sales tax). So far this year, it's 13.67%.
I don't run ads and I've only had 5 offsite ads charged since I started in April 2023 (over 250 orders).
EDIT: after watching the whole video, I should clarify that I'm in the US and I only sell to the US. My most popular item sells for $40, though it was $30 for most of 2023.
Where the payment processing and transaction fees become more expensive for lower priced items is in the extra 20 or 25 cents on top of the percentage. 25 cents is more of $10 than it is of $100. So, price your items accordingly.
Thank you so much for sharing
Yes all the little 20c fees really add up on a low value sale
This was a very informative video pam! You really need to know your numbers when running a business and you have to invest quite some money before starting to make a profit. Makes me laugh when so many are now in shock when etsy starts charging 15 dollars to open your shop. Honestly, if thats too much of an investment you are definitely not ready to start a business. 15 dollars is nothing, especially if you know how expensive other platforms are (charging more than that yearly or even monthly).
Yes exactly. I suppose, being older, I realise starting a business used to be a real expense, now people expect to pay nothing
Thanks Pam, probably shouldn't have listened to that first thing in the morning 😂🤯 I usually allow about 20%, I've never been able to get my head round all the random fees. It's definitely harder for cheaper items like cards, it always bugs me it's the same listing fee whether something sells for £1 or £100 but I guess there's no way around that.
I stayed opted in to off-site ads as I think Etsy does a better job of promoting my items through that than if I did £1 a day ad fee, which I'm sure would go nowhere. I also stopped doing paid ads on Facebook since my Facebook shop disappeared so it seemed pointless.
As you say, the commission taken by bricks and mortar outlets, which I have 4, is way higher than Etsy fees so it's certainly worth it for me. I'll listen again when my brain is my awake 😆
Aww yeah it takes a few coffees to get to grips with this
And honestly it is impossible to figure them all, we just have to assume a little extra wiggle room and then check how much money is really coming in
Fantastic video, thank you. Deff higher than I thought! My sales are 50% from on site adverts, even though most are return customers
Ohh 50% is way too high if they are return customers. Do you add business cards or branded stickers or pens or something for your customers? Or encourage them to sign up to your social media or maling list - so hopefully they can find you without google
@@PamDuthie I send a thank you email with link to my FB group (I need to set up email list sometime) but they just go back to Etsy 😑 without ads on, my sales just disappear. With them on, half the sales are from ads, but I don't sell enough to cover a month's advertising fees (£30 at £1/day min) so it's pointless at the moment...
Thanks Pam, this is what I expected. Living in Canada, that .20¢ is .31¢ depending on the US exchange rate. It is also cheaper to ship to the US then within my own country. I calculate 30% for Etsy fees and the cost of packing materials.
Yeah the shipping with you is bonkers. That makes things difficult
Hi Pam,
Do you have a copy of the the spreadsheet you were using?
Before watching: listing fee, sold something fee, and transaction fee. On top of that, I also have the off sides ad fee. When I had lots of items, I was also re-listing a lot, and at that time, my fees added up to about 28%. Now, I have fewer items (I am slowly closing my shop), and I never relist anymore, and my fees come in around 24%.
While watching: I have never used Etsy Plus or the Pattern site. I used Etsy ads early on, but they didn't work for me, so I haven't done them in years. I stopped doing coupons on my Etsy shop before they had an easy way to do it (the fees are just so much higher on Etsy for selling crochet pattern PDFs than on Ravelry, or LoveCrafts). My prices range from $7 to $17 Canadian.
I wasn't surprised at all at your numbers. I've always known that selling digital items on Etsy leads to much higher fees because of the fixed listing fee. If Etsy wants to be competitive at all in that space, they'd have to drop the listing fees for digital products.
ETA: in Canada, we pay GST (5%) on the Etsy fees.
Ahh thank you I didnt know about the Canadian GST, that is interesting
I agree that the fixed 20c fees are not fair for digital sellers
I have been waiting for a video like this for long time and Ilove the fact that you're UK based because we get all these hidden VAT charges other US based people don't talk about. My products are priced around 25 and more and after calculations I always see around in 21% fees lol.
Also does the currency conversion fee appear in the payment account where we see the breakdown off all fees?
For the UK we dont have to worry about currency conversion fees as a separate thing, Etsy does that. But some other countries I think have this added, or if someone is paid in a different currency
For the UK the only think really is the things like the 20c listing fee where we pay in $, its not curency conversion charge so much but those prices will change depending on the strength of the £
Hi Pam 25%
That sounds a sensible estimate. Are you high cost or low cost items?
@@PamDuthieI have more high end items selling wedding jewelry but also have low cost items earrings etc. today a necklace sale Etsy took 34% with offsite ad the total sale was $158 with tax and I only got $104 after all fees and tax
Very nice and honest. Naked truth about hidden fees
Thank you
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Omg. Highway robbery. ❤️🇨🇦
It can be a surprise when you look at them all