In a world a filled with an increasing variety of businesses, research conducted by an online labeling company into security has discovered that more than 50% of customers who use Etsy do so because of their desire for personalized items.
This is a result of the fact that several people have grown tired of popular high street brands and several e-commerce giants, such as eBay and Amazon; several other online marketplaces are becoming much more popular.
The popularity of Etsy micro business is seen as a directed turnaround for online high street stores and several other well-known brands, to the much sought after independent sellers and marketplaces. This also follows the trend that many people are beginning to become part of the kitchen table workforce and in starting their own creative business. The reason for this trend has been looked into by an online security labeling company.
Seareach conducted research recently, and it suggests that shoppers usually go to Etsy for their special and personalized items. It surveyed over 1000 online shoppers to help determine how popular the global marketplace is. Here are the reasons given, according to the questions posed by the research;
- I wanted a unique or personalized item – 58%
- Their selection of independent sellers – 40%
- Selection of items for sale – 33%
- Prefer to shop from independent sellers rather than chain stores – 10%
- Niche items available – 2%
Seareach discovered that only 16% of shoppers have not heard about Etsy while 53% of the people had never had any shopping experience before. Launched in 2005, Etsy has helped see a great increase in the microbusiness workforce. Microbusiness is a powerful economic driver; the major difference between these and other small business is that the number of their workforce does not exceed 9 employees.
The US has over 5 million microbusinesses, but in the US, the independent workforce includes 55 million people and brings in $1 trillion in earnings. In the US, 97% of Etsy sellers run their own business from home, and for 32% of these people, it is their sole occupation. Additionally, 53% work independently (on their own) and only 32% have traditional jobs. Also, 72% of the sellers on Etsy consider their shop as a business. Women also make up the largest percentage of sellers on Etsy at 87%.
Commenting on the study; “Websites such as Amazon have had some bad press over the last few years, from allegedly not paying enough tax to the poor working conditions of their staff, so it is no surprise shoppers are slowly moving away from them. Etsy has stepped into the area easily, offering unique products that you can’t find elsewhere online or on the high street.”
He added:
“Etsy also offers small independent sellers or microbusinesses a way to get a foothold in the marketplace without having to spend time or money building their own bespoke website. This has allowed shoppers to easily find unique items or items which can be personalized easily and allows them to shop from independent sellers rather than big name brands. As people’s shopping habits change, I can only see the popularity of sites such as Etsy increasing.”
Etsy is the best online place where you can have handmade and other unique items; this forum is eleven years old. With Etsy, there is more to find out about the sale of the unique online marketplace. Etsy is a viable place, and from the recent reports, it has observed increased growth in every quarter of the year.
Despite the increased competition, 2017 for Etsy looked like a good year with the trends that point toward authenticity, uniqueness and local dominance. Etsy is merely the brand that wins the mind and the wallet of potential buyers.
As a business that will last for a long time to come; it has a very sustainable plan as more than 50% of its revenue are from the services offered by sellers on the marketplace. “The Revenue system has increased significantly and thanks to services like the Direct Checkout, proprietary payments platforms, and other most utilized services. Several sellers that accept multiple payments have on average more than 50% higher sales compared to those who do not. Hence Direct Checkout is a powerful tool that can help improve sales.” Jennifer Beugelmans, Vice president of Financial Planning and Analysis Investing.
It is essential to have a platform that has this kind of broad reach and there is also a need to sustain the quality service being provided by this marketplace. This is the primary reason Etsy has created a platform that will enable shoppers to go through more than 40 million unique and special listings with several unstructured data.
Several buyers come back to patronize Etsy, year after year. This is no longer news. Hence Etsy remains the unbeatable and most exciting place to get that special, unique and personalized item.
Collaborative article contributed by Seareach
