CNBC: What Happened To Etsy? My REACTION

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Etsy Consultant

Etsy Consultant

2 ай бұрын

As we all know CNBC released a bombshell video about Etsy last week, and a lot of negative points were raised.
Join me in this reaction video as I give my no holds barred opinion on the major points raised in the piece!
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Пікірлер: 113
@etsyconsultant
@etsyconsultant 2 ай бұрын
*Book your free Etsy shop discovery call with me on the link below, and find out how we can work together to improve your Etsy business:* etsy-consultant.com/services/discovery-call/
@Chicago48
@Chicago48 2 ай бұрын
Very fair video and observations.
@etsyconsultant
@etsyconsultant 2 ай бұрын
@@Chicago48 Thanks.
@Bentlyxox
@Bentlyxox 2 ай бұрын
I think the best thing for Etsy is to have a handmade section separately from mass produced so customers can choose where they want to shop and that way everyone is happy.
@etsyconsultant
@etsyconsultant Ай бұрын
Lot's of people think this, it all depends on how Etsy implement it.
@user-yd7cx5gy9q
@user-yd7cx5gy9q 2 ай бұрын
Etsy needs 'verified handmade' section with shops that have proven they're legit handmade with a little ✔️ mark. Same with authentic vintage.
@etsyconsultant
@etsyconsultant Ай бұрын
A heavily requested feature.
@OutWestSomewhere
@OutWestSomewhere 2 ай бұрын
As a seller on Etsy, I can say they are truly awful in many aspects. They are extremely passive aggressive. In addition, they refuse to provide phone support, which is badly needed. There are no excuses for them. They don't like direct confrontation. 😡
@dangermouse8466
@dangermouse8466 2 ай бұрын
I told Etsy to go F off after they refused to reply to my emails in a timely manner. I'm now opening up my own store (my own website). It'll be much better coz I won't have to deal with the bs of possibly being banned coz I used the word "amber" or won't worry coz they stupidly, and probably, illegally withhold my money. I won't deal with any of that shit. Etsy replied after 4 months and I told them to F off again.
@etsyconsultant
@etsyconsultant 2 ай бұрын
True.
@jayc4743
@jayc4743 2 ай бұрын
My opinion, start with the blatant copyright violators. Like you said do it slow, but start to do it. Etsy just needs to own that it is not "handmade" anymore because they made that choice.
@etsyconsultant
@etsyconsultant 2 ай бұрын
They have to do something, and it needs to be done this year.
@ruthzung635
@ruthzung635 2 ай бұрын
I think its really interesting that you (Nik) were able to analyze the affect that Covid had on Etsy's sales and the highly paid CNBC specialists couldn't. I believe that of this AI and poor quality stuff as well as Etsy's attitude towards sellers and buyers come down to one thing - pure greed. Its just a lot of ways to get rich quick (or try to). That's why quality and integrity have gone out the window. Just my two cents.
@karenl8837
@karenl8837 2 ай бұрын
Couldn’t or it just didn’t fit their narrative? Or they’re not clued enough to figure it out
@etsyconsultant
@etsyconsultant 2 ай бұрын
Agreed.
@etsyconsultant
@etsyconsultant 2 ай бұрын
Probably didn't fit their narrative.
@PrismaticPixie
@PrismaticPixie 2 ай бұрын
It’s not that they couldn’t, it didn’t fit their narrative and what would get them views.
@shannonmorrison5123
@shannonmorrison5123 2 ай бұрын
It looks like ETSY is headed down the same road EBAY traveled-and will become obsolete in the handmade markets-as EBAY did when it shifted away from auction only. EBAY built a platform on auctions, changed it later, and then went to ship. ETSY built a platform on handmade, but in time, nothing on it will really be handmade. But something WILL replace it in time.
@etsyconsultant
@etsyconsultant 2 ай бұрын
Time will tell, it is up to Etsy to make some positive changes this year.
@fontainerouge
@fontainerouge 2 ай бұрын
Cater to an original market then they peak then they look for other revenues, that means mass market, that means cheap trash, original purpose gone.
@aliburu
@aliburu 2 ай бұрын
Hi Nik, 12 listings today, 1 per day. 30 views, 14 visits and 1 sale so far. The sale was made the second day. So happy with this progress 😊 thanks for everything!
@etsyconsultant
@etsyconsultant 2 ай бұрын
Nice work!
@LucyHowell-wb6nu
@LucyHowell-wb6nu 2 ай бұрын
So because they have changed the definition of handmade, we are in fact competing with mass produced items in "handmade". Don't reduce prices on your handmade goods. People should pay more for truly handmade.
@etsyconsultant
@etsyconsultant Ай бұрын
They should, yes.
@jennywhisconier7777
@jennywhisconier7777 2 ай бұрын
Thanks for your input re this vid -- very interesting. I thought Etsy chose the 'go fast and break things' idea early on, when my shop was much more competitive (now: not). I was doing ok, making steady part-time money, and hoping to expand -- then suddenly, like a switch, over a couple of weeks my sales went into the looloo. Completely demoralizing, and I was making actually handmade items. I actually got someone from Etsy to trade emails with me on the matter, and after he looked at my shop, he said 'wow, you;ve done a lot of work on my shop,' like he was used to seeing tons of junk, but couldn't give me any more info. That was years ago. Anyway -- I keep hearing notes like yours from all over, about the current state of affairs and it's good to get another perspective. TY.
@etsyconsultant
@etsyconsultant Ай бұрын
You're welcome, thanks for sharing.
@domdom94
@domdom94 2 ай бұрын
Thank you for all your sound advice. Thanks to you, I took the time to prepare for the opening of my store. It took me a few extra months, but I think it was necessary. I could have fallen into junkification because of all those misleading videos on youtube (earn 1 million with Etsy, earn 10 billion lol). But it's not that simple. I've started my 100 days of listings, I'll go to 200 days in a row, if possible, then I'll see, and I won't do any advertising to fully test your concept. I have beautiful, professional images and a product description sheet that's not too long but complete and easy to read. I've prepared my s-sections well in advance and I even have color codes for each heading. I've also filled in all the Etsy parameters. I'll keep you posted on progress 😊
@etsyconsultant
@etsyconsultant 2 ай бұрын
Please do, I look forward to hearing about your progress.
@scottcosta7119
@scottcosta7119 2 ай бұрын
A fair and well balanced critique, Nick. It'd be great to have You, or even this video to be aired on a national network such as CNBC. Especially for the lay person that watched that video and think the absolute worst of ETSY now. Thank you for your insight, Nick!
@etsyconsultant
@etsyconsultant 2 ай бұрын
No problem Scott!
@johnsteve2377
@johnsteve2377 2 ай бұрын
Excellent. I have to admit I'm one of the newbies on Etsy. I'm certainly here to make money (POD), but my every intention is to create high quality items. I'll do the research and I won't post anything that falls below that standard.
@etsyconsultant
@etsyconsultant 2 ай бұрын
That's all anyone asks, after all we are all there to make money.
@Stunnaz84
@Stunnaz84 2 ай бұрын
Same
@royal-mousiness
@royal-mousiness 2 ай бұрын
Hi Nik, can you, please, do a short video about whether or not POD shop should mark the listing "made with production assistance" in the product description. I don't mean "production partners", they are listed. Thank you. The reason I ask is because I suspect that this is not as simple as it seems and something happens to the shop as soon as it done. I know that Etsy wants it to be done properly, but after that shop goes invisible.
@sabrinarosati290
@sabrinarosati290 2 ай бұрын
If they want more customers, Etsy should start marketing more outside the US. For example, there are many countries in Europe where Etsy is entirely unknown, while Amazon has become the primary seller, especially in remote and rural areas (I know from personal experience). If they want to compete with Amazon, they should start thinking globally.
@etsyconsultant
@etsyconsultant Ай бұрын
Thanks for your input!
@shansson5130
@shansson5130 2 ай бұрын
I used to do mostly handmade, I do craft fairs too. I noticed that people mostly want to pay mass-produce prices for hand-made items. Etsy has realised this as a company that has share holders. It has been disingenuous in still touting the platform as 'handmade'. Genuine handmade is not cheap when makers live in a first world economy. They are opening their payments to India and China for a reason - it is cheaper to make items in lower costs countries like these 2.
@etsyconsultant
@etsyconsultant 19 күн бұрын
Very true, let's see how all this shakes out this year, a lot of changes happening.
@thediscoveredline4783
@thediscoveredline4783 2 ай бұрын
Etsy has lost its identity, I wonder if Etsy would consider two sides to its platform and perhaps market them separately, Etsy Handmade for the buyers who specifically want an original, handmade and unique item, and Etsy Something Else , for original designed items but may be produced by a production company and not handmade. In my experience people turn to Ebay for cheap products, and Amazon is going down that road too. Hopefully Etsy isn't.
@BeingArtful
@BeingArtful 2 ай бұрын
Interesting idea...we need to reclaim Etsy's original niche platform of handmade goods.
@etsyconsultant
@etsyconsultant 2 ай бұрын
It's an interesting idea, but Etsy will be put off by the failure of Etsy studio, which was supposed to be the supplies side of Etsy, it was implemented badly and failed.
@etsyconsultant
@etsyconsultant 2 ай бұрын
I honestly don't know if this can ever happen, it should be able to happen, but Etsy has a knack of messing these things up.
@rosabellewildlifeart3656
@rosabellewildlifeart3656 Ай бұрын
Many thanks for this Nik. If only Etsy were to offer a handmade category.....
@etsyconsultant
@etsyconsultant Ай бұрын
Let's see if they do, there is a big call for it.
@dianaflorentine7728
@dianaflorentine7728 Ай бұрын
As the Etsy Consultant, can you explain why they keep suspending my shop that doesnt have a listing? My partner's shop is also get permanent suspension with NO explanation. Literally no explanation, we have remove all the listings too to fix it. The withdrawal is also not paid. Help please???😢
@etsyconsultant
@etsyconsultant Ай бұрын
Hi Diana, please book a free discovery call with me, so that I can see if I can help you here, link is below: etsy-consultant.com/services/discovery-call/
@ArkatzStore
@ArkatzStore 2 ай бұрын
I love it, so intelligence and interesting reaction, full of knowledge. Perfect for the Etsy knowledge crazy eater I am.
@etsyconsultant
@etsyconsultant 2 ай бұрын
Glad you enjoyed it!
@davidjohnson6553
@davidjohnson6553 2 ай бұрын
It sounds like it's just a mad scramble to make higher profits at any cost. The first casualty has been their mission statement itself. I hope they have the wisdom to figure it out.
@etsyconsultant
@etsyconsultant 2 ай бұрын
Me too.
@Custom-Art-Nook
@Custom-Art-Nook 2 ай бұрын
Boy, do we as Etsy seller need a true HANDMADE category…
@etsyconsultant
@etsyconsultant Ай бұрын
Honestly, it looks like we do, but I am not sure if it would actually help unless Etsy could actually police it correctly.
@denisrichards7149
@denisrichards7149 2 ай бұрын
I think you hit the nail on the head when you said no one working for Etsy is a seller. Just a group of people with dollar signs as a target, no matter how they achieve it! Etsy, as was, has gone. It will only be yet another selling platform!
@etsyconsultant
@etsyconsultant Ай бұрын
Hi there, yes seems that way
@thediscoveredline4783
@thediscoveredline4783 2 ай бұрын
I believe a lot of people are attracted to Etsy not necessarily because they are into making huge sums of money but want to pursue their passion for making handmade things and have an outlet to sell them, making some extra money concurrent with a day job for example, or looking after family, the well-known ‘side hustle’. Etsy has been great for people like this, and I class myself in this category, but as low earners for Etsy could we be in the firing line for being shut down?
@etsyconsultant
@etsyconsultant 20 күн бұрын
Hi, yes a lot of sellers are in your boat, but no, as long as you follow Etsy's Terms Of Service you should be fine.
@michaelritchie9462
@michaelritchie9462 2 ай бұрын
I have been on Etsy since 2010 and NEVER have I seen it this bad. I am one of the old time artisan makers and my business has plummeted since last year. Views down 70 %!!! I’m m really asking myself hard questions - is now the time to leave? I feel they have abandoned me
@etsyconsultant
@etsyconsultant Ай бұрын
Hi there, thanks for your comment. I recommend that you book a discovery call to see if you'd like me to help grow your business, link below: etsy-consultant.com/services/discovery-call/
@Hayley-hb6vx
@Hayley-hb6vx Ай бұрын
We need a new "Etsy" Who is it going to get it done. I wonder what it'll be called. Maybe its already out there. Ive seen a few alternatives 🤷
@etsyconsultant
@etsyconsultant Ай бұрын
Nothing out there at the moment with any decent traffic unfortunately.
@prernasharma5959
@prernasharma5959 2 ай бұрын
Hello sir, I am from India. I am selling digital products on etsy sibce last year. I am facing major issues in my business. Do you provide your services and consultation to Indian sellers?
@etsyconsultant
@etsyconsultant Ай бұрын
Hi yes I do, I believe we have now spoken.
@BobbyRembert
@BobbyRembert 2 ай бұрын
People should remember that Amazon started as a book seller that evolved into the giant that it now is. Yes, you can still buy books on Amazon, but that is no longer the focus. Ebay start as an online auction yardsale of old junk, but now you can buy cheap, new crap from China, even though the hard-to-find relics are still present. I think Etsy will always be known for hand-made treasures even if they continue to evolve and offer other products. My two cents is simply have a giant search filter button that says “hand-made only” for people who truly are only looking for hand-made products, if they want to filter out the rest. Problem solved, and let’s keep evolving.
@etsyconsultant
@etsyconsultant Ай бұрын
Great idea!
@michaeloffutt1762
@michaeloffutt1762 2 ай бұрын
Maybe they should separate POD and handmade on a little deeper level. Separate marketplaces all together under one name.
@etsyconsultant
@etsyconsultant 2 ай бұрын
I think this is one of many options Etsy will be considering.
@MalcolmProductions1
@MalcolmProductions1 Ай бұрын
I make my products myself and am looking at other platforms who have a much more strict definition of "handmade" because pod and "production partners" are not "handmade" that's a fraud and anyone who genuinely hand makes their products cannot compete with factories.
@etsyconsultant
@etsyconsultant 25 күн бұрын
Thanks for sharing
@Kymin-Kay-Smith
@Kymin-Kay-Smith 2 ай бұрын
I think Etsy needs a ‘Handmade’ section on their site
@etsyconsultant
@etsyconsultant Ай бұрын
Thank you, good point!
@paulettemorrissey9428
@paulettemorrissey9428 2 ай бұрын
Etsy is definitely not geared to handmades anymore, and have no interest in working with the sellers. It's impossible to talk to a real person when any issue arises, and their policies change and make no sense. Trying to become another Amazon or eBay is exactly opposite from what Etsy started out as. Why don't they break off and have two Etsys - one for handmades and one to be the Amazon clone?
@etsyconsultant
@etsyconsultant Ай бұрын
Yes, a lot of people feel the same way, let's see what Etsy does about it.
@JustCallMeInsane
@JustCallMeInsane 2 ай бұрын
I am very curious how they will define handmade. Most of my products are made in-house, but I sometimes utilize my printer or 3D printer to create the physical product. Few products I send out to be printed. I really think allowing customers to fine tune their search to support business in their state/area could help Etsy. There is a huge growing desire to support local, and giving Etsy customers that reminder 'hey, you can find local sellers in your area!' could be a good pull.
@etsyconsultant
@etsyconsultant 2 ай бұрын
I am too. Valid points too, all will be revealed later this year!
@hannahmitchell87
@hannahmitchell87 2 ай бұрын
Allowing customers to fine tune search for local sellers if they want is a good shout (didn't they used to do that?) but I don't like it being enforced by Etsy via localisation (& unbeknownst to buyers) It turns the uneven playing field into a mountain range. Sellers shouldn't be penalised in search because of where they live
@paulinavelasquez310
@paulinavelasquez310 2 ай бұрын
Etsy closed out my shop for no reason at all 😢 I didn’t do anything no reason at all.
@etsyconsultant
@etsyconsultant Ай бұрын
I'm sorry to hear that.
@BakeandBag
@BakeandBag 2 ай бұрын
We should make a new Etsy, set up as a cooperative.
@etsyconsultant
@etsyconsultant 2 ай бұрын
It is too difficult because you need a ton of advertising budget because no customers = no platform.
@ninetiesperson7980
@ninetiesperson7980 2 ай бұрын
👍
@etsyconsultant
@etsyconsultant 2 ай бұрын
Cheers.
@kinestet_art
@kinestet_art 2 ай бұрын
This situation with etsymake me anxious 😢
@etsyconsultant
@etsyconsultant 2 ай бұрын
Open other revenue sources, that's my advice.
@devotae
@devotae 2 ай бұрын
I've seen so many sellers have their designs stolen and manufactured. Etsy is just another online shopping website. Not quite a general store but...
@etsyconsultant
@etsyconsultant Ай бұрын
Hi there, thanks for sharing.
@theresakralik1820
@theresakralik1820 2 ай бұрын
I list vintage jewelry and vintage artist made collectibles on Etsy. I don't sell many items. The items sell on Ebay. I don't think that Etsys algorithm is structured to push one of a kind vintage items. As silly as it sounds, I will not continue to spend .20 to list an item on Etsy. My experiment is about to reach the 6 month mark. I will quietly fade out.
@etsyconsultant
@etsyconsultant Ай бұрын
Hi there, sorry to hear that. My video on selling vintage items on Etsy may inspire you, link below: kzfaq.info/get/bejne/rNFxhZN9larenJc.htmlsi=2aljA87ff-2WYCBj
@user-pu4le5zm4f
@user-pu4le5zm4f 2 ай бұрын
Loads of people buy the junk. There are loads of ai prints and crap mugs and jpeg sales that make thousands of sales. And people who say they can paint original pieces on demand in any size, selling them as hand made but actually they are print on demand and sell loads. It is all crap.
@etsyconsultant
@etsyconsultant 19 күн бұрын
There are a lot of poor items on Etsy, I agree, but plenty of good things too.
@domdom94
@domdom94 2 ай бұрын
It gives the impression that etsy is looking to get rich one moment and then they don't give a damn the next. They're doing this because they have a certain monopoly at the moment. If another company comes along and offers a better service than etsy, we'll see how they react. Even if the company offers exactly the same thing as them, but with more support for sellers, for example, and lower fees, or let's say, a gradual reduction in fees depending on the amount. It's a shame they're doing this.
@etsyconsultant
@etsyconsultant Ай бұрын
Hi there, thanks for your comment!
@benhunter6811
@benhunter6811 2 ай бұрын
As someone who sells AI generated art on Etsy with 9000 sales in 12 months. I definitely agree there is a lot of crap out there. To do well, you need to be a leader. There is far too much copying and producing generic art, encouraged by the get rich quick youtubers. The key is to make it look like art and not AI and put in the work, it's a demanding space to be in 99% won't make it.
@etsyconsultant
@etsyconsultant Ай бұрын
Exactly!
@DroneFootageStore
@DroneFootageStore 2 ай бұрын
Hi Nick, I saw most of your videos, and to be honest, your opinion regarding Etsy and that video is not at the point that I was expecting. First of all, if Etsy is supposed to keep only the " hand-made " sellers, then all the suppliers should disappear. Second thing - regarding AI. , I believe everyone should have an opportunity to make money no matter how, as long they do not copy-past other products on the market. Don't forget, we live into a world where we must improvise to live the life we want. None of us have been born with skills, but this doesn't mean that we have to stay stick on what we can do and stop searching for different possibilities to accomplish our dreams. If some ppl have this mindset, then they will die poor, working their whole life for a society they don't want to. If Etsy remained all this time only with hand-made sellers, at this point, their revenue was a maximum of 40% from what they have now. I believe it is time for everyone to evolve , to accept the changes, and let the others live under the same sun ( etsy platform ) with all king of other sellers, no matter what are they ( hand made, suppliers, POD, etc ). As a last thing, if we have to categorise " at literam " the items as a hand made creation, then, all of them will failed. Ofc we can say as a finite product it is hand made, but all the components aren't ( like rock, cristals, engraving boards, the crochet machines who makes their job easier, and many more ). Have a good day! 🌞
@etsyconsultant
@etsyconsultant 19 күн бұрын
Thanks for your comment, I appreciate it!
@LucyHowell-wb6nu
@LucyHowell-wb6nu 2 ай бұрын
The economy is going to get progressively worse, not better. I'm grateful for the few sales I still get here and there.
@etsyconsultant
@etsyconsultant Ай бұрын
I think 2024 and 25 will both be flat.
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