“Best marketplace for buying handmade products and antique items” – An Etsy Buyer Review
Etsy has been known as a perfect place to sell & buy unique handcrafted items. The platform has earned its reputation with time and currently has more than 95 million active users. However, if you are a frequent Etsy user, then you must have noticed the steep drop in the quality of the items sold. Apart from this, many users have also reported about their bad experience with the platform, related to the delivery & customer support.
As a result, many users are now turning towards other websites like Etsy where they can get the desired experience. This opens up a new opportunity for someone thinking to build an Etsy alternative.
The article will act as a helpful guide and covers important topics like the Etsy business model, how does Etsy make money, how Etsy works, websites like Etsy development process, and some FAQs. The post also lists 5 top Etsy alternatives for reference.
Etsy is an online marketplace that links innovative craftsmen and business owners with conscientious buyers seeking unique products that express their personal flair and aim to elevate both ordinary and exceptional occasions.
Etsy links millions of enthusiastic, imaginative vendors and shoppers. Their goal is to “Keep Commerce Human” by leveraging technology and commerce to empower people all around the world and build stronger communities.
Founded in 2005 by Robert Kalin, Chris Maguire, and Haim Schoppik, as a small firm that wanted to sell handmade furniture online. Today, it is a massive global marketplace valued at around $30 billion.
Stats & Facts about Etsy – The Popular Online Marketplace
Websites like Etsy operate using four different models. From the seller’s registration to the buyer’s rating and review, the four-step approach ensures that every user is in a win-win situation. Sellers earn clients with this strategy, while buyers purchase distinctive goods that are hard to obtain elsewhere.
To use the Etsy platform, one must complete the sign-up process. It is mostly concerned with sellers registering so they can list their products on this eCommerce site. Sellers must pay registration fees, which are valid for four months after which they must renew their subscription or membership.
This stage involves looking through hundreds of thousands of unique artefacts and objects that belong to purchasers. Due to their age and antique nature, many products are hard to locate on other websites and in physical stores. After choosing one from the many categories, the consumer can purchase them.
Etsy provides a range of payment channels to give users a variety of options for how to pay for the goods they have purchased. On Etsy, a number of payment methods are accepted, including bank transfers, debit cards, and credit cards.
Etsy gives customers the option to rate the seller and the item after the transaction. Other customers will be able to assess a seller’s services and goods based on their ratings and feedback. While this is a helpful tool for buyers to learn more about vendors, sellers can also use it as an opportunity to build their brand by offering unique services and goods.
Makers can sell their products on Amazon through the Amazon Handmade storefront. Amazon Handmade offers several advantages, such as analytics, no listing expiration, Fulfillment by Amazon (FBA) shipping, and Amazon-sponsored advertisements.
However, prices are greater than those of other marketplace platforms since Amazon charges a monthly membership fee in addition to a 15% commission on each sale.
Storeenvy is a US-based ecommerce marketplace store that specializes in selling small, independent brand products to users. The site was started in 2012 by Jonathan Crawford and currently there are over 67000 brands selling on the Storenvy. The platform charges about 15% commission on sales and has no other charges.
The USP of the platform is it brings high quality indie products from all over the world to the user. Apart from this, sellers can setup their own store, customize it using HTML or CSS, and design it their own way.
Similar to Etsy, Bonanza provides a central marketplace for you to sell your goods; however, unlike Etsy, it makes no claims to specialize in crafts and other handcrafted goods. It is a far broader marketplace including furniture, jewelry, cosmetics, clothes, and other items.
However, Bonanza is extremely clear about their terms. The company’s FAQ states that listing your product(s) on the website and uploading images is free of charge. You do this on what Bonanza refers to as a “booth,” which is similar to Etsy’s “shop.”
With a limited but functional free plan, Big Cartel caters only to creatives. While it doesn’t have a central marketplace like Etsy, it does offer services to assist makers in setting up an online storefront on their own website. Please take note that it does not involve making arrangements for credit cards or other payment methods; you will need to do it on your own using PayPal, Venmo, or Stripe (keep in mind that they will charge extra for retail sales). However, Big Cartel doesn’t tack on extra costs to what their service costs.
When it comes to vintage products and homemade stuff, Ruby Lane is one of the best websites like Etsy. You are welcome to showcase your distinctive products here if you want to market your vintage-inspired brands.
RubyLane is well-known for its carefully chosen vendors, high calibre products, and well focused customer base. Since 1998, their primary line of business has been vintage products. Because of this, sellers of vintage and handcrafted goods find it appealing.
Nevertheless, sellers on RubyLane face a major obstacle as the $25 monthly maintenance fee is greater than on any other platform. Furthermore, there is no monthly price if you add at least 15 products during the month.
| Note – On RubyLane, listing and setup are free. |
Known as the largest virtual craft fair in the UK, Folksy brings together real artists and customers who want to purchase directly from craftspeople. This marketplace does not permit vintage sales or the resale of items, in contrast to Etsy.
Regarding Folksy’s pricing structure, there are two options: Basic and Plus. On the Basic plan, sellers are billed £0.15 + VAT for each item quantity, and after the first three listings, a listing fee is needed. Similarly, Folksy Plus has a £5 monthly fee. Folks Plus allows users who have an Etsy store to import all the data with a single click.
The fact that Folksy does not retain the money from vendors is another important feature. Sellers’ accounts are instantly credited with sales.
While eBay can have an overwhelming amount of things for sale, it can also be a site where a creator can find a buyer if they are looking for a certain kind of item. Furthermore, websites like eBay has evolved into a marketplace for nearly anything you can imagine, despite its initial reputation for only selling used goods. Additionally, there are some helpful features. For instance, buyers who enjoy your products may quickly set up email reminders to be sent anytime you post something new.
Websites like Redbubble offer a diverse selection of products, ranging from home décor to phone cases, catering to independent artists. Redbubble’s tagline is “unconventional designs on awesome stuff.”
With the platform’s basic pricing method, merchants keep all proceeds once the base price is charged each time a product is sold. Furthermore, there is no setup or listing fees for websites like Redbubble.
You may sell almost any type of handmade product using the Instagram for Business platform. Create an Instagram account and change it from personal to business to begin using Instagram for Business. Next, create shoppable posts on Instagram and set up a shop. In this manner, the Shop icon at the bottom of the screen can direct Instagram followers to your store. Although you will need to pay for ads, your account and listings will be completely free.
Users of websites like Facebook Marketplace for Business have access to advertising and inventory options not accessible to ordinary Facebook users. Additionally, some users can be eligible for Facebook-led stores, which allow customers to purchase your products without going to another site.
Facebook does not always collect fees on your sales, and listing your things on websites like Facebook Marketplace is free of charge. There are costs associated with managing sales through Commerce Manager, which you can use for both Facebook and Instagram transactions.
Etsy has a distinctive revenue model in addition to being well-known for its unique item listings on its marketplace.
Etsy levies fees to vendors who offer goods on its marketplace. Nevertheless, Etsy only charges $0.20 for item listings, which adds significantly to the site’s overall revenue. The $0.20 is good for a period of four months.
In addition to the listing cost, Etsy charges a commission to sellers on each transaction. A fixed commission fee of 3.5% is charged. Although Etsy deducts a 3.5% fee from the sale price prior to disbursing funds to the seller, sellers are still free to choose their own selling price.
Etsy has provided merchants with a number of exclusive services that they can use for an additional fee. These are essentially possibilities for advertising, such as featuring a product, etc. Vendors are able to exhibit their stores, which increases sales.
Although there are many websites like Etsy available in the market, Etsy is your top competitor. Each site has some features that are unique to them. Examine them! Look for industry-specific websites, peruse app store ratings & reviews, analyze the latest web development trends in the market, and utilize the services for yourself. These tactics assist you in identifying areas where your possible product can stand out from the competition and in comprehending their advantages.
A project may be profitable in some circumstances. It is necessary to project maximum sales before starting the implementation process, regardless of the monetization mechanism. To increase the attractiveness of your offering, select membership, cost, or income ratio, or combine them.
You also need to prepare a buyer persona for better business understanding, i.e. take your time in identifying your ideal client. Since we’re building a marketplace, you would need to identify the vendor and the buyer, at minimum. Clearer buyer descriptions improve the efficacy of your next marketing campaigns.
The marketplace’s requirement to manage suppliers and customers makes platform design a challenging task. However, nothing is insurmountable! With the correct management, you’ll be successful in the end and competitive. Focus on these two primary points:
The goal of an UX designer is to comprehend user motivation and predict what a user would expect from your online application when they sign up. Finding ways to meet these needs for an efficient architecture is the primary task of the UX designer. An interface framework developed by a UX specialist is predicated on a simple and unambiguous user experience.
When the app’s blueprint is ready, the UI designer gets involved. To create a market that will surpass Etsy, you need to consider what customers want. The intended audience for your website should be reflected in the choice of color, font, typeface, and transformation options.
Notably, most of the UI designers are proficient in building from scratch and have exceptional UX skills also. Up until this point in the design process, you should have a prototype—a sketch of the intended product that can be made, tested, and approved.
Once we are ready with the design and a prototype, it’s time to build the website. You might want to build a site that has all the competitor features to stand out in the market. However, a rational website development company in India will always suggest you to build an MVP (minimum viable product) first.
An MVP has all the core, basic features of your Etsy alternative. The goal of building an MVP is to test the market with as little budget as possible among users. An MVP also helps in gathering feedback on the platform and then working to build a better marketplace than you thought.
Make sure to hire web developers who can work upon the feedback and update the platform, as required by the user. The advance functionalities are added later. Notably, between all this process, a QA continuously tests the site and reports the bugs & errors in the platform
Now that we have developed the full Etsy alternative and tested it in the market, it is time to launch it. It involves marketing the site to users, collecting continuous feedback, and then improving the site. Notably, you also need regular support & maintenance to ensure that the site works properly all the time without any bugs or errors. Thus, it is important to discuss about support service in the beginning while discussing web development services with your vendor.
Building marketplace websites like Etsy is not easy; there are already many competitors in the market. Therefore, it becomes essential for your platform to offer something that makes them stand out in the market.
Konstant Infosolutions, a top website development company in India, already has industry experience and knowledge of web development trends. We have been in the market since 2003 and delivered more than 3500+ projects globally. In the span of 20 years, Konstant has been recognized & awarded by top sites, media houses, and research firms. Some of our awards & recognitions are as follows –
So, this was all about Etsy business model and how Etsy makes money. We have also given the users top websites like Etsy for research & reference purposes. We think this is one of the best times to build a site like Etsy. However, it is essential to hire a top website development company in India, like Konstant Infosolutions, to get satisfied results.
Etsy, being one of the best online marketplaces, has lots of complexities, functionalities, and robust UI/UX design. Thus, going for the cheapest option here can result in more website development cost or wastage of effort, time, and money in the long term. You can also consult our expert team here to discuss your website ideas and get it validated using our past experience.
The cost to build sites like Etsy can range anywhere between $15,000 and $35,000, depending upon your requirements. The exact price can be determined by understanding the project complexity, design, and other factors.
Some of the top features to include in sites like Etsy are easy registration process, multiple language support & layout, easy to navigate & understand UI/UX design, live tracking, payment integrations, social media integrations, and robust customer support.
Building a site like Etsy is a complex task and requires significant development time. The time to build Etsy alternative is 6 to 12 months, depending upon the exact requirements.
Etsy revenue model includes listing & transaction fees from sellers, payment processing charge, subscriptions, and advertising charge. The platform is one of the few major online marketplaces that have turned its business highly profitable.
Some of the top Etsy alternative websites are Amazon Handmade, RedBubble, eBay, Instagram shopping, and Facebook Marketplace.
Vipin Jain is the Co-Founder and CEO at Konstant Infosolutions and is in charge of marketing, project management, administration and R&D at the company. With his marketing background, Vipin Jain has developed and honed the company’s vision, corporate structure & initiatives and its goals, and brought the company into the current era of success.
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