But still doubling down with the "cocktail of ingredients" search algorithm.
Great article in eCommerceBytes about Etsy's wall street call from yesterday, October 30.
@OffThePedestal wow, they admit the mess, wow.
Thank you for sharing. It means that my decision to stick to my own business plan, by not submitting to Etsy's will to mess it with FS, was not a bad decision at all.
Etsy search is garbage and Etsy is to blame.
I know they did the math, got the numbers they need and decided free shipping is the right way to reach those results. But I am not doing it. Not only for the sake of my business, but for the sake of my own personal-moral-intellectual well being. If Etsy is a stubborn spoiled big corp. I am one stubborn spoiled old lady... I say when.
No they did the math and realized they could not implement free shipping the way they wanted without hurting conversion and decided to take on that hurt.
Theyre saying it resulted in lower conversion for the site because they prioritized less relevant items that offered free shipping. They’re not saying individual sellers who offered free shipping had lower conversion.
So, in other words....going into the holiday season they are messing with search AGAIN!
Also, if they would just give in and do "Search by TOTAL PRICE", they said they would NOT do this. It would even things out a lot for all sellers and make shoppers happier. "No suprises"
Etsy is making a lot of changes and not considering that their customers were willing to shop and pay for shipping. It was expected here. Now they are going for single transaction customers looking for a deal verses long term customers looking to be loyal and pay a premium for a quality item. This is also supported by the influx of low quality reproductions and mass produced items. These flood the pages of Etsy and then customers can't find the quality items and leave.
I was forced into the "Forced/incentivized Free Shipping" because visits, sales, and revenue dropped by so much. I was at a loss. Did free shipping, sale and quantity discount. Also didn't fully drop the awful Ads ($0.81 used in ONE click today. I bid $0.14 at the most ever)
Looking at August-October now...
Conversion Rate: down 1-20% depending on the day. Overall, down by 4%.
Visits: down 20.7% *Now down a total of 37.7% since being up Jan-July*
Sales: down 19.39% *Now down a total of 39.39% since being up Jan-July*
Revenue: down 26.6% *Now down a total of 56% (when removing the shipping from the revenue) since being up Jan-July*
Ad Traffic: down 38%
Etsy SEO & Marketing Traffic: down 28.2%
How can Etsy explain something like this to a seller that has been having growth until Mid-August when the started making changes and traffic, sales and revenue decreased by a significant amount?
"but for the sake of my own personal-moral-intellectual well being"
Unicorns and free shipping.
Etsy share price lost almost $20 in a couple of weeks since their earning report from $60 to $41. Investors look at all details and free shipping is a red flag something is wrong with profit = desperation for sales. For Wall Street the Gross sales growth is more important than a bunch of fees collected from sellers. Investors know too much fees will create an exodus from sellers. Eventually less sellers, less gross.... and the price per share will collapse.
So come on the search has to bring quality and unique products, customers will buy even if there is shipping fees. https://www.barchart.com/stocks/quotes/ETSY/interactive-chart
I agree with you but I gave into the free shipping because my sales were so low and I thought that was the reason why. But now that I have changed everything to free shipping, my sale are reduced to 90%. In the last 2 months, have you noticed a decrease in your sales because you don't offer free shipping?
Thank you Brenda
Initially I resisted free shipping as I sell vintage and couldn't see how it could work for me, then I gave it a try. I didn't really see any increase in sales and was having a really hard time making it work with large items due to huge difference in shipping costs based on buyer location. Decided to switch back a 2-3 months ago and my sales have increased over last year and I can go back to offering larger items. Hopefully Etsy doesn't do anything else to screw things up.
I'm stealing that term for dealing with my kids and grandbabies..I'm not making you do it..I am "incentivizing"...
Sounds like they are going to be messing with the algorithm going into the holidays.
I have some best sellers that sold every single day to not selling in a week to a month. I offer free shipping too. Things flipped overnight. They aren't being seen. A 20.7% reduction in visits YoY.
"Now they are going for single transaction customers looking for a deal verses long term customers looking to be loyal and pay a premium for a quality item. This is also supported by the influx of low quality reproductions and mass produced items. These flood the pages of Etsy and then customers can't find the quality items and leave."
Yes and all of this is attracting low-ball, bargain barn shoppers.
I have noticed an up-tick of shoppers asking for very specific dimensions on items because they are obviously comparison shopping for the very cheapest thing they can find (based on what is in their favorites) along with constant, "How much without the chain? What's the least you'll take fer that?" etc., Most of the time they are not even polite about it, very cut and dry. They are more concerned with cheapest price vs. shoppers who realize actual quality and elegant presentation is naturally going to cost more. The old adage, "You get what you pay for," still applies, but they get off so much on, "Lookit the bargain I got! Yeehaw!" vs. "Look at this utterly unique item I purchased on Etsy!" This is catering to a very specific type of shopper and I don't get Etsy's strategy.
This bargain hunting mentality is a sport for salivating cheapskates and I just never thought of the shops on here as catering to that kind of shopper. I feel like my shop needs to go from a boutique experience in classy (or used to be) Etsy marketplace, to a low-rent table at an outdoor flea market in order to compete on here. Aren't there enough cheap crap sites selling cheap crap imports online for those kind of people already? Isn't Etsy making less in the long run with this plan to toss aside great shops with great items and classy presentation? Didn't Etsy used to be unique and have a specific 'niche'?
I think we are obviously losing the clientele we had before who were searching for artistry and an upscale shopping experience. Some of my customers have stated they don't like the current shopping experience on here, one said, "Etsy seems really cheap and tawdry with all the sales and discounts, the cheapest and most garish items are featured on the main page, why is this happening? It's such a turn off!" How am I supposed to answer that? So those shoppers who are not impressed or concerned with rock bottom prices and don't like items that show up in a plain envelope with a forever stamp are going to shop elsewhere.
Yup! From that article:
...it pushes the listings that are not free shipping or free-shipping eligible to a lower page, but we have going forward a lot of other ways to incentivize sellers to adopt.
That part scared me. I haven’t given in to free shipping, and don’t plan to. But who knows how they might try to coerce sellers in the future.
They are going to kill Etsy. What a shame.
ALL THE BEST LISTINGS START ON PAGE 2 ANYHOW.
This bargain hunting mentality is a sport for salivating cheapskates and I just never thought of the shops on here as catering to that kind of shopper. I feel like my shop needs to go from a boutique experience in classy (or used to be) Etsy marketplace, to a low-rent table at an outdoor flea market in order to compete on here. Aren't there enough cheap crap sites selling cheap crap imports online for those kind of people already?
p.s. I love that safety pin bracelet :)
I agree with RelmagineBrewing that the market place has changed,even in the short time I have been a member!
What I believe is that a lot of people who used to sell on Ebay have now moved to Etsy!Ebay is full of cheap crap and multiple items at rock-bottom prices -also the mentality of sellers who think that to get a sale or interest is to prefix items that are not true vintage as "vintage style" this is not helping the true vintage sellers.Does anyone else think this is happening/
@bettysworld4u Sounds creepy, in a way...Open your mouth! If you do not confess all your sins right away, we shall drill a tiny hole into one of your teeth, without anesthesia. Don't worry. It won't hurt (too much). Plus you may faint during the process, and then you won't feel anything. And if you STILL resist, we have some other ways to incentivize you....Brew-hahahaha! Happy Halloweeen
Titles and tags with the word “Vintage” are rampant in every category, and I agree, it’s really irritating as both a buyer and a seller here.
And the resellers of exotic “Antique” items....claiming they are hundreds of years old yet they have 10-20 of them that are VERY similar in different colors- I have reported 3 shops in particular and linked the matching Alibaba listings in which they can order 1 to 500 of them in all different colors. I have also linked their B & M store websites that clearly describe the same items as “new reproductions”. Some of these shops have reviews commenting on the furniture they received as “obviously not antique”.....But they are all still open and racking up sales- some even have quantities of 2 or more specific items available! How often do you come across multiples of 200-300 year old items?? (I suppose that also gets them an extra boost in search for being able to sell multiples of these “antiques”)!
Tell the head honcho to go back to ebay
we are not biting!
Besides they have a calculator here to help you break the law. The FTC says it is illegal to raise prices to cover the cost of "free shipping." ILLEGAL yet they keep pushing people to do it. I am offering it and sales are way down. Everything fell off a cliff mid month in Sept.
I also sell on ebay and it has fallen there but now I am selling almost exclusively the last month ON ebay- sales are up there and I noticed a lot of sellers have left ebay so I am being found more and more there and I don't have to compete with imported things being passed off as hand made when they are clearly factory produced over and over and over - and etsy does nothing.