Etsy Dropshipping: 4 Things the BEST Stores Do | 1 Ugly Truth No One Will Tell You
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- เผยแพร่เมื่อ 27 เม.ย. 2023
- Etsy Dropshipping is a great business for the best Etsy dropshipping sellers. I studied million dollar shops to learn their secrets about selling on Etsy. In this video, I reveal 4 things that all Million Dollar Etsy shops do. NOT doing them could result in your Etsy shop failing! Unfortunately, I also have some bad news about the reality of selling on Etsy that NO ONE will tell you. This information was buried in Etsy's reports to the government and investors. Before you invest a lot of time and money, make sure you know the TRUTH about selling on Etsy.
Etsy Dropshipping and Etsy Print on Demand (also known as Etsy POD) are popular ways to run Print on Demand businesses, whether as a side hustle or a full-time business. And now the digital download fad has everyone asking about the best Etsy digital products to sell, too. PAY ATTENTION: It almost doesn't matter what you are selling on Etsy. Before you spend your time trying to find digital products to sell on Etsy or looking for physical products on Printful and Printify or other suppliers, make sure you know what you're getting into.
The top Etsy sellers have achieved the dream eCommerce lifestyle - they learned how to make money online! I wanted to know the truth about selling on Etsy, so I studied 20 top Etsy shops to see what makes them different. If you want to know how to open an Etsy shop, then watch this video as part of your education on how to open an Etsy shop for beginners! Even if you've been selling on Etsy for a while, this video can give you ideas on how to optimize the Etsy shop that you already have.
Your host in this video has an undergraduate degree in Economics, an MBA in finance from Cornell University, earned the CFA charter (Chartered Financial Analyst), worked as an equity research analyst at top Wall Street firms, and has been the CFO of several software companies.
To Subscribe to the Channel, click here and then click SUBSCRIBE: / @thebestwill
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#etsy #etsybusiness #estyseller #pod #printondemand #makemoneyonline #passiveincome #williamlee #etsydropshipping #etsydigitaldownloads
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As someone just starting out with Etsy, your information is invaluable. Your presentation is excellent. Everything is clear and concise. Thank you for your videos.
I'm glad it helps! Thank you!
Yeah man I was literally about to write something similar. Most people on TH-cam kinda like bate you with the promise of information durring the video but never actually get to the point. This guy really did a good job on this man. I subscribed for sure
Bravo! Teaching people how to count is probably the hardest job ever. If you tell them that they can make 100k a year your video will have millions of views. if you tell them truth... so that's what people want to hear. Big like from me!
I own a wholesale store and keep an eye on what's buying on Etsy. One thing that wasn't mentioned is that Etsy is just a high priced 'Wish' website at this point. Nearly everything on the platform is dropshipped from China, or shipped to local warehouses from China, even those telling you they are hand made. The chance of someone new doing well and competing with actual hand made items is extremely low.
Its sad because the original intention of etsy was not to be an amazon.
Our experience (as a top seller) confirms this reality. Etsy handmade where price compression occurs.
actually dropshippers are only a small % of the stores/listings on etsy.
Sir, you are truly a role model for aspiring entrepreneurs. Your honesty is brutal, and it hit me the most. Thank you for sharing your experience and knowledge; it is rare.
I remember the days where Etsy used to sell unique and really handcrafted items…those days are far gone now.
The kind of dropshipping this guy is referring to is NOT allowed on ETSY. It's reselling items you haven't made. And it's ruining Etsy. Real handmade artisans are struggling, we can't compete with the prices of the cheap junk, make things that fast (because we actually make them) and our shops/items can never be found because we are buried pages and pages back by dropship shops. This is actually fraudulent (touting mass-produced goods as handcrafted) and disingenuous. It's going to be what takes Etsy down. You can dropship on sites like Ebay, Craigslist, Amazon, etc This video and these info/tutorials should not even be allowed on TH-cam, they are teaching people how to SCAM people with counterfeit goods.
Well done, I can confirm your data is true, this is the same exact thing I noticed... plus don't forget that all the sellers who got nice sales before, now are dropping and looking for new opportunities, so copying others and selling cheaper is as aggressive as ever. Plus the big sellers are getting their own traffic because when Etsy traffic is dropping their sales are very stable - still, I haven't been able to find out where this traffic is coming from - I assume either cashback sites, affiliates or email lists gathered throughout the years etc
This week, you did an excellent job, particularly with the stock videos. The ones you used, including informative clips, felt relevant and didn't disrupt the viewing experience at all. Plus, your script was once again outstanding. Great improvement!
Terrific, thanks! I'm trying to be more selective.
This channel is a gem!! Thank you so much
Really useful info, William. Thanks so much!
some great advice there. Thank you
Loved it! Clear, concise, easy to understand, bullet points weren't disruptive, no fluff. Thank you!
Thank you so much for awesome information
You are an absolute legend, your videos are so informative. Liked & subscribed
Very useful, insightful video. Thank you.
Really appreciate your sobering and fact-based advice. Thank you!
Great content William.
Thank you for this analysis, William, very helpful!
Thank you so much! I appreciate your feedback.
You are the very best, William . . . this is SO valuable and it is not only applicable to Etsy. Thank you! I am just starting out with all this online marketplace thing . . .
Thank you, too kind! I'm glad to help.
Thank you! I just started my pod shop last week with my focus in an emerging home decorating aesthetic. I was worried that I was going too niche, making too many items, hadn't had a sale yet, etc... I think it did answer the question for me however, that if I want to do costume (no, not custom, I'm a costumer) pod, I should put it in a second shop.
Excellent analysis with no hype. Appreciated. Thank you!
Thank you!
Great video, perfectly explained. Many thanks!
Glad you enjoyed it! Thank you!
I'm first! Lol Very nice and useful analysis. TY.
You win! Thanks for watching!!
really outstanding content. you rock. this is fantastic - just what I needed.
Thanks very much!
Congrats on 10k! I was just watching your video on the eight most important things when starting a Channel this morning and you had like 9.8.k. Awesome
Edit: I forgot to add I started a printify store as well after your vid. Inspirational stuff. Thank you.
Thank you for sharing such useful information.
Thanks, Janice!
Thank you. This is so so helpful. Could you a do a video about Etsy printables and digital downloads niches? They seem like a lot of hype.
there's so much value in your videos. I was confused between starting a side hustle on Etsy and starting a business of my own. I watched your NO SIDE HUSTLE video also. Your videos helped me take better decision. In India there are a lot of young people who want to start a business, and we all could use your knowledge, if you can make something about Indian market, I'll be first one to watch!
Clear and concise. Most of all, no BS!! Thank you for the valuable info.
Thank you, Elaine! Much appreciated.
This Video is so informative thank you look forward to your next one
Thanks!
You are doing particulary good videos. Thanks
Thank you so much! Much appreciated.
I saw one of your video's and knew here is some great value for a new Etsy seller. thank you
You're welcome. Glad to help! Thanks
I like the way you deliver the information. As someone who has seen many etsy videos this was very professional and well spoken. Hope to see more content like this.
Thank you, very kind to say so!
I enjoyed a well narrated and informative video, telling the reality of this endeavours, I am keen to hear more from you
Thank you so much!
Like the questions you ask, even if answers are not easy or not in the open. Top analytic procedures to do the right research and reach the best conclusions my friend. Keep this up. Consider a special video on how you set up and execute your analysis procedures. You have a lot to offer on how to think clearly and research effectively. This would give lots of people a nudge on how to optimize improving their business. Watch the pros, imitate their good habits and you can find answers, too.
Thanks very much! I appreciate your feedback.
Great video! I'm already selling digital good on Etsy for half of year, and I never paid attention what Etsy is made mostly for women. Now I will keep it in mind preparing new products
The latest data from Etsy show men are increasing in numbers on the platform, but it is still by far mostly women.
That means you have not done enough research my friend, IT'S COMMON KNOWLEDGE that maj are women.
You did a really nice job with your video, William. Thank you for sharing great information.
We have been sellers of clothing on Etsy for over 3 years and have seen substantial growth each year. Your highlights of the things the best stores do are very much on point. Part of the 5.4 million sellers include many, many very small sellers (like, less than 10 sales all time) and inactive accounts. Etsy may be slowly culling these accounts and that could be why the number of sellers is flattening, although I have nothing to corroborate that. I do believe that Etsy's market awareness and reputation have increased substantially, boosted by COVID. Post-COVID, there is still growth in Etsy shoppers and sales. The recession also is at play this year and we have yet to see what the holiday season will yield.
Thanks again for awesome content. Keep up the effort!
Thanks very much for the compliment and for your personal observations on Etsy. I'm glad to hear it's working for you! Best of luck to you for continued growth!
This is such a good quality video, with research and data! I was missing that about Etsy talks. My impression is that a lot of people make money by talking about how to make money on Etsy, but it ends there. Subscribed! I'm looking forward to seeing your next videos about making money online.
It would be great if you could provide links to the data's source!
Thanks! Great suggestion about linking to the source.
I've been selling for around ten years on Etsy and I turn over around £25000. But due to competition it's definitely dropped off since 2020. Back then I was on course to quit my job and go full time. Now I'm stuck in that 'not quite there yet' point. So I work the day job part time.
I have smashed the like button 😂
Great video!
I need to find way to make extra Money, maybe I will do etsy
Clear, thorough and well-presented. Great job ! 😁 I'd be interested to know if the chances of success are affected by whether you sell physical or digital products. 💪
Thanks! I'd love to know that, too, but haven't found a good source for that info.
Love your videos William,
The product I plan to sell is very niche and is targeted towards DIY home improvement, specially women and men that want to try project themselves but don't want to invest in expensive equipment like miter saw and especially know how to operate one.
The only concern I have is my product will be $200 - 400+ price point. I already see other shop doing similar thing with 100s of reviews so hopefully price point will not be a deterrent for a new seller like myself. 😊
Very interesting. Niche, expensive products can sell well on Etsy, and the fact that there are a few other stores selling them (at a similar price?) tells you there is demand. You'll need to think about how to convince a shopper that they can trust that your product is just as good or better than the "proven" alternatives sold by other stores that already have sales histories.
@@TheBestWill thanks for replying, makes me more confident in my future project :)
You're awesome!!!!
Thanks!
What other platforms might be better than Etsy? mainly for print on demand. Could\did you make a video on that please?
You passed the masculinity test pronouncing Cricut "cry-cut" instead of "cricket"! 😄 Love your content and style - so straightforward and valuable!
Yeah, I discovered later that I was pronouncing it wrong! Funny thing is you're the only one that mentioned it!!
Hey William- Thanks again for another great video outlining strategies and numbers. I do have a question for you or for any other people that can answer, I have a candle business on etsy and I also sell to retail stores in my area. I understand having more listings, however Im not sure how many candles I should have listed since I pour candles per season. Right now is spring/summer vibes. later in the year will be fall/winter scented candles. I do have some that are year round sellers too. In all I have about 15 candles per season. Any advise on this?
Oh and let me also add, I believe my SEO keywords and titles and descriptions are pretty good. I used AI for titles and descriptions and used Vid IQ for keywords as well as looking at top sellers to do my own research. Etsy ads have not done very well for me. Kind regards - Bobby
Hi - thanks very much! Re. your candle business, it's a little hard to answer since I don't know the details of your products or your profit margins. That said, if you have time I'd suggest listing all of the candles... one listing for each different shape, scent, color. Each one will cost $0.20 for a 4 month listing. It will be an experiment to see what works. You can't sell it if it's not listed. Anyway, that's my thought. We'll see if anyone suggests a better approach...!
@@TheBestWill Thank You😃
Super insightful data on this marketplace site. From what I understand, personalized products are very popular here and you did not address this niche. It would be helpful to understand if creating a store that niched down on a particular personalized product would give you an advantage in establishing a successful store.
I'm just guessing, but I'd think making personalizable products in a niche that isn't too crowded would be a good way to stand out.
Your excellent observations make me wonder if checking all the boxes when starting a new store here will ultimately lead to a worthwhile success within a reasonable period of time OR if you are performing all the right behaviors flawlessly will you end up just wasting your time and never find any success. There were many 49'ers who sought out gold using tried and true proven methods yet in the end came up empty handed and gave up.
Exactly the right question to ask, Bob. I suspect a new seller can probably do okay on Etsy if they take responsibility for driving prospects to their Etsy store from other social media platforms. I'd think success is less likely for folks who leave it to Etsy to send sellers to their shops.
@@TheBestWill You make a good point. These on line market places do recognize outside traffic within the algorithm and will give your listings preferential treatment. It is a benefit for sure. It should be noted that there is a difference between driving traffic to etsy and driving traffic to your own website, on your etsy listing your competitors products will be displayed as well. For all your efforts, you could just as well be driving traffic to your competitors.
Your no BS advice is great for those thinking of starting up on Etsy. Thanks for this great content.
Thanks!
I have watched many guru saying Etsy is stupid easy to make passive income but none of them gave their analysis like you sir🙏. I thank you for those analysis that is very useful from us that a just a beginner..can you do videos about Koji too sir?
Thanks very much! I don't know anything about Koji (yet).
I used to only look for men's clothes. Lately, I mainly look for women's clothes now. I study trends and what's popular with certain singers, artist, and whatever. There is also a volume aspect to it all. People will be more inclined to spend $15-$20 on a single item rather than $50, depending on a number of factors obviously.
I like how you breakdown the Sales per year and notated that the top sellers only make up 0.009% of sellers. That puts into perspective of how big the market is and the chances of making it to the top are not that likely. Have you did any research on Amazon FBA and affiliate accounts for people looking into that avenue? I would be very interested in those numbers to see the payout ratios?
Thanks! No, I haven't dug into Amazon FBA.
Good info, thanks for the breakdown! Does platform choice matter? For example, if I wanted to sell primarily to men, is Etsy the best place to do it given most of the shoppers/buyers there are women as you pointed out? Do successful Etsy sites targeting men do anything different than the Etsy sites targeting women to increase their visibility to their market?
Great questions, John! I don't know if another platform would be better for a store targeting men. For example, I don't know if men perceive Etsy as being a "women's" site, such that even if you got men to an Etsy store, they would be less inclined to buy because of that perception?? IF that's the case, and that's a big IF, then another platform might work better for men. I'm not aware of data that addresses that question, so we're all just guessing. Re. your other question, I haven't done an analysis to see if male oriented stores are set up any differently than female oriented stores, but I doubt they are, other than the way the store is "decorated".
One more thing you didn’t mention - the more you sell, the better those listings usually do in the search algorithm. That means that those shops that started earlier usually enjoy far better search placement than the newcomers.
Great point! Thanks for mentioning it.
Please answer, If someone makes multiple etsy accounts on his same details, if for any reason one of account gets suspended, will it effect other accounts as well?
It was just recently that Josh Silverman exercised an option somewhere around $10 - I was looking at the form 4 filing on Edgar myself. Etsy sellers are complaining on social media about funds being withheld but I'm unclear if I'm getting the real story.
Is etsycheck tag generator good
Thank you sir, I hate how nowadays people on TH-cam make it seem like it’s super easy. Just like any small business it’s time, patience, and practice. Also, don’t put all your eggs in the Etsy basket.
Totally agree. I'm not telling people NOT to sell on Etsy. I'm just pointing out that it is competitive and will take work.
I've been on Etsy for 17 years this December (2006) 🎉. I totally agree with what you said about older shops. Persistence pays off. My main shop doesn't follow a trend--it's my personal artwork. But I do keep up on trend and add keywords as they apply.
As a painter I wondered about this. Is it worth my effort to offer prints or cards here?
1) If you're selling on Etsy, what is your #1 tip for someone new to it? 2) A small favor to ask: If you find this video helpful and have a Facebook account, please share a link to this video on Facebook. I don't have an account! The link to this video: th-cam.com/video/ZyypCuTZaXk/w-d-xo.html 3) If you haven't seen it yet, watch my other Etsy video from this two-part series, which was hugely popular! th-cam.com/video/__aCduYq3Aw/w-d-xo.html
I have really nice designs for shirts and other print-on-demand products, but I cannot create an Etsy shop on my own because I am from Iraq.
Is it possible to find people and partner up with them together, they make sales and I make designs and we split the profit based on mutual agreements? Are such things possible?
Yes, I think that's possible. The trick is finding someone to partner with. You might look to find shops on Etsy that you like and then send an email to the owners to see if they are interested. Also try leaving comments on TH-cam videos letting people there know that you are looking for a partner.
@@TheBestWill Thanks for the advice
Finally some data and not just selling hope and false wishes. Also, I had no Ideal my store niche and product type are the same as one of the top ten, I do hope to find some success though I am early and plan on having a few hundred listings by the end of my first year with them all being focused in a singular product type and theme.
Best of luck to you, Derrick, and thanks for commenting!
you look like ryan reynolds with special FX makeup on lol
Maybe I am Ryan Reynolds...!
The big question is how does anybody on Etsy sell t-shirts for $9.95 with free shipping?
Excellent question!
@@TheBestWill I thought they were jacking the price in the add basket....no they were not. But they sold 565 shirts a month....am I missing something here??
4000 skus, low aov, huge fees eroding margin, tons of competition and no real competitive advantage sounds like a horrible business model. Hard pass.
there are newer smaller stores DOING WELL, youhave to find small niches...
Totally agree - that's a good way to go.
4000 listings??? I believe listings expire. So you would have to have staff to keep that up.
Yeah, that's a lot of busy work. Or you could set them to auto-renew, but it seems wiser to do it manually so you don't renew items that aren't selling.
William, question to you, are you still selling ?
Shop is still live, but I'm not focussing on it at the moment.
So, the most purchased item is rocks? That doesn't make any sense to me. I'm a woman and I've never purchased a pretty rock, never needed a rock, nor thought of buying a rock. What a useless thing to waste money on.
You are very unlikely to make a living using Etsy or other such websites, and videos like this should make that unfortunate truth even more apparent.
The TH-cam content telling us how to do a side hustle is, for the most part, steering people in the wrong direction. Few can generate substantial revenue. Many of this small fraction fail to fully account for their costs, and fool themselves.
China gets free shipping, even on our shores. Us residents still have to pay $4.00 minimum to ship any item. This is why Americans can't make money on Etsy.
I didn't know that. If that's true, then that certainly puts U.S. sellers at a disadvantage, particularly with lower priced items where shipping could be a larger part of the overall sale price.
I opened a store 2 months ago with 99 listings, all my designs. No sales as of yet, and I really need to research shipping prices because they're unreasonable from the EU. This video is great, thanks!
thanks Mr Williams for the information you are sharing.
i was about to establish an Etsy shop but through my research i found a great idea i really need to discuss it with you i promise you will like it.
please i need your contact info so I can send you a breif.
thanks
Hi william I am finding your email here on TH-cam, but it seems you don't have an email here. May I kindly ask for your email? I just want to email you something. You always create great content!
I love these videos. I like the honesty and the well-paced explanations.
I appreciate that! Thanks!