This Is EXACTLY What I Would Sell If I Was New To Etsy in 2024... 🤫

Money With Mak
4 May 202411:00

TLDRThe video offers advice for those looking to start an Etsy shop in 2024, emphasizing the importance of having a clear direction for the store, whether it be a general store or a niche-specific one. The host, MAC, shares insights from their four years of successful selling on Etsy. They highlight the growing trend of personalization on Etsy and recommend several products that do well, such as personalized candles, tote bags, tumblers, and cosmetic bags. The video also discusses the new Etsy shop setup fee, which is a one-time $15 fee aimed at reducing inactive sellers and improving the platform for active ones. MAC uses a Chrome extension called Everb to analyze successful listings and provides tips on how to improve upon existing products to stand out in the market. The summary encourages creativity and strategic marketing to succeed on Etsy.

Takeaways

  • 🚀 **Direction Setting**: When starting on Etsy, consider if you want a general store with various products or a niche-specific store for better success and easier pivoting.
  • 💰 **Initial Fee**: Etsy now requires a one-time $15 fee to set up a shop, which helps reduce inactive sellers and potentially lessens competition.
  • 🔍 **Personalization Trend**: Etsy customers are looking for personalized items not easily found elsewhere, so incorporating personalization into your store is crucial.
  • 🕯️ **Personalized Candles**: Selling personalized candles can be highly profitable, with simple customizations like names and fonts leading to significant monthly revenue.
  • 🛍️ **Tote Bags**: Tote bags, especially personalized ones, are popular on Etsy and are a great product to market on Pinterest and social media.
  • ☕ **Personalized Tumblers**: Personalized tumblers are in demand, and offering unique designs can help differentiate your products from the competition.
  • 👜 **Cosmetic Bags**: Personalized cosmetic bags are another product that does well on Etsy, and simple yet appealing designs can attract buyers.
  • 🎁 **Bridal Party Gifts**: Offering personalized items for bridal parties, such as bridesmaid gifts, can lead to bulk orders and increased revenue.
  • 🌟 **Stand Out with Creativity**: Look at successful listings for inspiration and think about how to improve them to stand out in the market.
  • 📈 **Analyze Successful Listings**: Pay attention to what makes a listing successful, from design to keywords, to understand what customers are responding to.
  • 📚 **Use Tools for Research**: Utilize tools like Chrome extensions for research and to spy on successful listings to inform your own strategies.

Q & A

  • What is the first consideration when starting an Etsy shop in 2024?

    -The first consideration is the direction you want to go with your shop. You need to decide whether you want to have a general store selling multiple types of products to different niches or a more niche-specific or product-specific store.

  • What is the one-time fee for setting up a shop on Etsy in 2024?

    -The one-time fee for setting up a shop on Etsy in 2024 is $15.

  • Why is Etsy introducing a fee for setting up a shop?

    -Etsy is introducing a fee to encourage active participation and selling on their platform. It aims to reduce the number of sellers who create a store and then abandon it.

  • What is the key trend in products that the speaker recommends for an Etsy shop in 2024?

    -The key trend is personalization. The speaker emphasizes that Etsy customers are looking for personalized items for gifts or their homes that they can't easily find on Amazon or through a Google search.

  • What is one of the recommended products to sell on Etsy in 2024?

    -One of the recommended products is personalized candles. The speaker shows an example of a best-selling personalized candle on Etsy that brings in significant revenue.

  • How much revenue does the personalized candle example bring in per month?

    -The personalized candle example brings in $88,000 a month in revenue.

  • What is another recommended product category for an Etsy shop in 2024?

    -Another recommended product category is personalized tote bags, which are popular and can be effectively marketed on Pinterest or social media.

  • What is the significance of using a Chrome extension like Everb for Etsy sellers?

    -A Chrome extension like Everb is significant for Etsy sellers as it helps with research and allows them to 'spy' on successful listings, providing valuable insights into what makes those listings successful.

  • What is the importance of incorporating personalization in your Etsy store in 2024?

    -Incorporating personalization is important because it aligns with what Etsy customers are looking for - unique, personalized items that they can't find elsewhere. It also helps sellers stand out in a competitive market.

  • What advice does the speaker give for new sellers looking to improve their listings?

    -The speaker advises new sellers to be creative, look at successful listings, and think about how they can make those products better or more appealing. This could involve improving mock-ups, offering more options, or targeting a more specific niche.

  • What is the role of social media in marketing Etsy products?

    -Social media plays a crucial role in marketing Etsy products. Platforms like Pinterest can be particularly effective for promoting products like personalized tote bags, reaching a wider audience and driving traffic to the Etsy store.

  • What is the speaker's perspective on the future of personalized items on Etsy?

    -The speaker believes that personalized items will continue to be a significant part of Etsy's direction. They mention that Etsy has indicated a push towards promoting personalized items, which is a trend new sellers should leverage to stand out.

Outlines

00:00

🚀 Starting an Etsy Shop in 2024: Strategy and Personalization

The video aims to guide individuals on starting an Etsy shop in 2024 or improving an existing one. The speaker, MAC, shares insights based on their four years of successful selling on Etsy. The focus is on deciding the store's direction, whether to have a general store with multiple products or a niche-specific store. Etsy has introduced a $15 one-time fee for setting up a shop, which is seen as a positive move to reduce inactive sellers and competition. The importance of personalization is emphasized, as customers often seek unique, personalized items not readily available on other platforms like Amazon. The video provides examples of successful personalized products, such as candles and tote bags, and discusses their appeal and revenue generation.

05:00

🛍️ Etsy Product Recommendations and Marketing Tips

The speaker delves into specific product recommendations for Etsy shops, highlighting the popularity of personalized items like candles, tote bags, and tumblers. They demonstrate how to use the Everb Chrome extension for research and competitive analysis, showing its utility in estimating monthly revenue and sales. The video provides examples of best-selling personalized products and their revenue figures, emphasizing the potential profitability of these items. It also suggests ways to enhance product listings with better mock-ups and designs for a competitive edge. The speaker encourages creativity and adaptation of successful listings to improve and differentiate one's own products.

10:02

📈 Success with Text-Based Designs and Personalized Gifts on Etsy

The video concludes with a discussion on the success of text-based designs and the importance of personalized gifts on Etsy. The speaker shares their own experience with a sweatshirt that generated significant profit, illustrating the potential of simple, text-based designs. They predict that Etsy will continue to promote personalized items, advising new sellers to capitalize on this trend. The video offers additional resources, including a free Etsy setup guide and the Everb extension, to assist viewers in their Etsy journey. The speaker invites questions and engagement in the comments section and encourages viewers to subscribe and connect on social media.

Mindmap

Keywords

💡Etsy

Etsy is an e-commerce website focused on handmade or vintage items and craft supplies. It is a platform where creative entrepreneurs can open their own shops to sell their products. In the video, the speaker discusses strategies for starting a successful Etsy shop in 2024.

💡Personalization

Personalization refers to the customization of a product to make it unique for a specific customer. It is a key trend on Etsy, where customers often seek personalized items for gifts or home decor. The video emphasizes the importance of incorporating personalization into products to stand out on the platform.

💡Print on Demand

Print on Demand (POD) is a business model where products are only produced when a customer orders them, reducing the need for inventory and upfront costs. The video mentions POD as a method for creating personalized items, such as candles and tote bags, which are sold on Etsy.

💡Digital Products

Digital products are intangible goods that are distributed electronically. They can include designs, graphics, or other digital files that can be downloaded or printed by the customer. The speaker discusses digital products as a type of item that can be sold on Etsy, alongside physical items.

💡Niche Specific

A niche specific store is one that focuses on selling products aimed at a particular market segment or customer base. The video suggests that having a niche specific direction can lead to more success on Etsy by catering to a targeted audience.

💡Everb Chrome Extension

The Everb Chrome extension is a tool that allows Etsy sellers to research other listings on the platform. It provides insights into sales data and can help sellers understand what is popular and successful. The speaker recommends using this tool for market research.

💡Tote Bags

Tote bags are a type of large, sturdy bag that is popular for carrying items. In the context of the video, personalized tote bags are highlighted as a recommended product to sell on Etsy, especially those that can be marketed effectively on social media platforms like Pinterest.

💡Monthly Revenue

Monthly revenue refers to the total income generated from sales within a month. The video provides examples of successful Etsy listings, mentioning their monthly revenue as a measure of their success and as an incentive for new sellers to enter the market.

💡Bridal Party

A bridal party typically consists of the individuals who participate in a wedding ceremony, such as the bride, groom, bridesmaids, and groomsmen. The video suggests that personalized items for a bridal party, like bridesmaid tote bags, can be a lucrative niche on Etsy.

💡Competitive Edge

A competitive edge is an advantage that a business has over its competitors, often due to unique features, pricing, or marketing strategies. The video encourages new Etsy sellers to find ways to differentiate their products to gain a competitive edge in the market.

💡Text-Based Designs

Text-based designs are those that primarily feature words or typography as the main design element. The video discusses the popularity of text-based designs on Etsy, such as personalized names or phrases on products like candles and tumblers, which can be highly profitable.

Highlights

Starting an Etsy shop in 2024 involves choosing between a general store or a niche-specific store for better success and easier pivoting.

Etsy has introduced a $15 one-time fee for setting up a shop, aiming to reduce inactive sellers and competition.

Personalization is a key trend on Etsy, with customers seeking unique, personalized items not found on other platforms like Amazon.

Personalized candles are a recommended product, with examples showing high revenue and simple design requirements.

Using tools like the Everb Chrome extension can help sellers conduct extensive research and spy on successful listings.

One seller is making $88,000 a month in revenue from personalized candles, emphasizing the potential of simple, personalized products.

Personalized tote bags are popular and offer opportunities for creative designs and marketing on platforms like Pinterest.

Bridesmaid tote bags, in particular, are a high-revenue product, with the potential for bulk orders from bridal parties.

Print on demand services like Printify offer various options for creating unique and personalized tumblers.

A simple design for a personalized tumbler can lead to significant sales, as demonstrated by a seller making $2,700 a month.

Bridesmaid gifts, such as wine tumblers, present an opportunity for easy creation and customization on Etsy.

Personalized cosmetic bags are another high-performing product, with simple designs and the potential for elevated aesthetics.

Text-based designs, such as those on personalized items, can be highly profitable, as shown by a sweatshirt that generated $100K profit in 6 months.

Etsy is focusing on promoting personalized items, providing a competitive edge for sellers who can offer unique, personalized products.

Sellers are encouraged to be creative, improve upon existing successful listings, and find niches to stand out in the market.

A free Etsy setup store guide is available, providing a step-by-step process for new sellers to set up their shop in just 10 minutes.