Can You Use eComm to Knit Your Way to Riches?
By Peter | Tuesday, July 14th, 2009
Once upon a time there were neighborhood craft fairs. You could get a booth, sell a few hand-knit tea cozies, and be on your way. Nobody got rich, but then that wasn’t really the idea. Most craft fair vendors made a living wage, at best, or just some extra spending money. And that’s how it was for a long time, until along came the internet and eCommerce.
Etsy.com changed everything…or at least it was supposed to. It’s a huge, 24/7 virtual craft fair, where it never rains and where hundreds of thousands of customers can find and buy your products. As an eCommerce site, Etsy is very successful. In the first five months of 2009, it boasted more than $58 million in sales, more than double the same period from the year before. It has over 2.4 million registered members, from 150 countries around the world. Those are great numbers, but where the problems arise are in another number – there are approximately 155,000 vendors selling their wares, and competing for the same customers.
Just like any type of ecommerce, trying to make it rich selling stuff on Etsy is proving to be a challenge. The difficulties arise in both making an appealing product, and figuring out how to market it in a way that would-be purchasers can find yours, amid all the other similar crafts. In order to try to help, the powers that be at Etsy have started to offer search engine optimization guidance to vendors who use the site. But that doesn’t really address the biggest problem with the site – its own success. The ultimate 24/7 virtual craft fair offers a huge number of virtual customers, but a whole lot of competition too.





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