Etsy is a e-commerce website that specializes in providing a marketplace for small businesses that sell homemade goods or vintage items. The site was launched in 2005 and was ranked in the top 200 sites on the internet by Alexa in 2012. The site boasts a community of more than 15 million buyers and business owners.
There are no membership fees for using Etsy, and sellers pay $0.20 for four months for each item they list, and then they pay a 3.5% commission once the item is sold.
Etsy is good for crafters, artists, and collectors because it works like an online craft fair. Sellers benefit from being in the meeting place where people come to browse and shop for these kinds of goods. The platform also provides customization options that make it easier for sellers to create a unique shop. There is also a social media aspect of Etsy, so sellers can actually converse with shoppers, other store owners, and others about their product.
One disadvantage of using Etsy is that sellers are sharing space with their competitors. This level of competition may force sellers to lower their prices more than they would have otherwise. It would also make it difficult to run exclusive or keep secrets since your competitors can easily see every move they make.