What is a Good Conversion Rate on Etsy? Boost Your Etsy Shop
You have successfully opened an Etsy shop. You may have never made a sale or you may sell your products regularly. Either way, you should be able to read and analyze the statistics that are the backbone of your Etsy store. Among these statistics, the crucial one is the conversion rate. So, What is the conversion rate on Etsy?
If you feel like you have no idea where to start understanding the conversion and finding your ideal conversion rate, then this article is for you! In this article, we will dive into a good conversion rate on Etsy. Are you ready to boost your Etsy store? Then, keep reading 👇
The table of contents for this article is as follows.
What is the Conversion Rate on Etsy?
Etsy conversion rate is known as the percentage of the successful purchase made by the buyers who view your item on the Etsy shop. This rate tells you what proportion of visitors buy from your Etsy shop after seeing your product in an Etsy listing.
If you are not familiar with the Etsy conversion rate and do not check it regularly, then you are missing the best way to reach your goal. Moreover, you can not determine what has the highest return from your effort.
So, If you want to skyrocket your sales you must discover the ways to increase the conversion rate on Etsy🚀. You are lucky because EtsyHunt will help you to understand conversion rates.
How do You Calculate the Conversion Rate on Etsy?
Let’s say your Etsy store was viewed 1000 times last week. You did 18 successful purchases according to the previous week’s report. So, (18/1000) x 100 = 1,8 means your conversion rate is 1,8% on Etsy.
Where can I Find My Shop's Conversion Rate on Etsy?
You can easily find your conversion rate on Etsy by following these steps:
- Sign in and click Shop Manager to reach the Seller dashboard.
- Then click Stats from the sidebar. Here you’ll see stats on your views, visits, orders, and revenue. You may choose a different date range or sales channel from the dropdown menus if you have more than one sales channel.
- You will find your conversion rate on Etsy here.
What is a Good Conversion Rate on Etsy?
In order to understand what is a good conversion rate on Etsy, you should analyze the e-commerce industry’s conversions. As you see in the graph below, the Industry standard does not exceed 3%.
According to the Etsy seller handbook; “a good conversion rate on Etsy looks different for every shop, and varies significantly across categories and price points. “ Thus, The best thing to do is to know what your conversion rate is and keep track of it.
What is the Average Conversion Rate on Etsy?
Based on internal analysis of Etsy orders in 2021, the average conversion rate is about 1-5% on Etsy. Even though the conversion rate decreased due to the huge number of new sellers, competitive niches still have a wide range of conversion rates.
Why is Boosting the Conversion Rate Important?
The conversion rate has significant effects on Etsy shops. The higher the conversion rate the more chance to be noticed in Etsy listing. This will also impact your revenue. Let’s review the following scenario:
Let’s say there are 4 Etsy shops to be compared. Every product is priced at $400. Each customer buys one item per visit. For every 1000 visits to each shop:
|Etsy Shop W
C.R is %1
|Etsy Shop X
C.R is %1,5
|Etsy Shop Y
C.R is %2
|Etsy Shop Z
C.R is %4
The shop with the highest conversion rate (Shop Z) makes four times the revenue as the shop with the lowest conversion rate (Shop W). Even a very small amount of difference in conversion rate (0,5%) can affect your revenue. Therefore, boosting the conversion rate on Etsy is quite important.
6 Tips to Increase the Conversion Rate on Etsy
The first step in increasing your conversion rate on Etsy is getting shoppers to click on your listings in search results. Bear in mind that buyers need to see your product in Etsy search results and be motivated to take a closer look before making a purchase. Here are 6 tips to grab visitors’ interest and push them to buy.
No matter the category your products are involved in, from vintage items to craft supplies, handmade goods, jewelry, digital products and so on...you need to stand out and find creative ways to get a good conversion rate on Etsy. Among the different strategies, there is one that has a huge impact on buying behaviors: product photography.
According to surveys, 90 percent of Etsy shoppers said the quality of the photos were “extremely important” or “very important” to a purchase decision. Thus, if you want to obtain a good conversion rate on Etsy, you must select qualified product photos.
You can visit The Ultimate Guide to Product Photography. to improve your photography skills and learn about how to take photos that get shoppers to click and buy.
2.Enticing Product Descriptions
Describe all the features of your products comprehensively to increase your conversion rate on Etsy. Let your customers know how the product will make their job easy or bring elegance to them. In order to increase your purchase, you need to grab your customers' interest by carefully selecting keywords and convince them to click the buy now button.
Let see how EtsyHunt Keyword Tool will assist you with finding the proper keywords that will highlight your products. For instance, you sell a wallet on Etsy and you are not sure which keywords should be used. Then, type a wallet to the search bar on Keyword Tool.
Now, you will see 4 parts on the top:
- Views: Total number of monthly views for the top 100 listings ranking for this keyword.
- Competition:The number of listings Etsy finds relevant for the keyword.EtsyHunt Keyword connects directly to Etsy, and they give out a maximum of 50,100 competing listings which means that for listings with "50,100+" the number of competitors could be larger.
- Favorites: Total number of monthly favorites for the top 100 listings ranking for this keyword.
- Sales:Total number of estimated monthly sales for the top 100 listings ranking for this keyword.
You can also observe the graph showing Google Search Trends results monthly 📊. This will help you to understand customers' intentions. Furthermore, you will be able to analyze these features:
- Main Category: Most common category among the top 100 listings ranking for this keyword.
- Avg. Price: Average price for the top 100 listings ranking for this keyword.
- Processing Time: Average Processing Time for the top 100 shops ranking for this keyword.
- Shops Competing: Total number of unique shops among the top 100 listings ranking for this search term.
The last but not least point is to discover similar keywords for having a good conversion rate on Etsy. EtsyHunt will also help you in this process. In addition, you can copy all similar keywords or export to CSV.
👉Pro Tip: You should visit Etsy Keywords Comprehensive Guide to maximize the conversion rate on Etsy.
Pricing competitively your products may contribute to increasing the conversion rate on Etsy. But keep in mind that competitive pricing doesn’t mean pricing low. So, how will you determine the right strategy when pricing? Here is where EtsyHunt Shop Analyze really shines. It will show you the top shops in Etsy search for any category you specify. You can observe what competitors are charging for comparable products.
Let's go ahead with the same products: wallets. You can filter Etsy stores by categories. In this example, Etsy stores that sell items in Bags&Purses are listed:
You can also select these options to reach the most successful Etsy stores.
- Star Seller: Star Sellers have an outstanding track record for providing a great customer experience—they consistently earned 5-star reviews, shipped orders on time, and replied to messages quickly.
- Raving: This shop got multiple 5-star reviews in the past 7 days.
Then, click on the Product List icon of any store you think has a good conversion rate on Etsy. You will see the product list within the new tab.
Besides all features that are explained above, you can view Product Details for each product. In this part, you can observe descriptions, product images, shipping, categories etc. So, this will give you an idea to set your product page. Also, you can examine the Product Performance graph by sales, prices, favorites and reviews.
Shoppers on Etsy would like to see special offers.These offers may contain gifts, discounts, quick processing time and other marketing strategies.
Surprise Your Customers with Memorable Gifts
It is discovered that when you announce you will send a small gift with your product, it will grab buyers' interest. Thus, such kinds of special offers will reduce spam and poor quality views and increase the conversion rate on Etsy. It also pushes your customer to leave a positive review for your Etsy shop.
Grab Customers’ Interest by Discount
What's more, you can offer special discounts to attract Etsy buyers🏷️. Discount can be one of the first pieces of information that visitors look for when deciding whether to purchase. Your discount rates and campaigns may be key to turning those interested shoppers into customers. Also a useful step to higher your conversion rate on Etsy. Especially, prefer this marketing strategy on special days like Christmas or Valentine's Day
According to statistics, shoppers on Etsy are 20% more likely to complete their purchase when the item is marked as free shipping. If an Etsy shopper adds your item to their cart and the shipping prices are too high, they’ll abandon your product. So, free shipping will definitely make your customers satisfied and increase your sales. This, undoubtedly, will maximize your conversion rate on Etsy.
💡Keep in mind that shipping price is also a factor in Etsy search ranking. If you offer free shipping or lower your shipping costs for shoppers in your country, this strategy can improve your search ranking. So, your shops get a higher chance to be realized by buyers.
If we summarise the competitive strategy to boost the conversion rate on Etsy, you should follow these tactics:
- Provide a free-shipping guarantee
- Offer to lower the shipping cost
- Offer quick processing time
Reviews on your Etsy listings are crucial. Feedbacks from your customers are a paramount ranking factor in the Etsy search algorithm. Multiple 5-star reviews will boost your ranks in Etsy search and will also improve your conversion rate on Etsy.
Since your business is online, visitors can’t see or feel the item before purchase. Hence, gaining positive reviews and being awarded a ”Star Seller” badge thanks to offering an excellent customer experience, will directly affect your purchase. Then, this will lead to boosting your conversion rate on Etsy.
When shoppers leave a comment, they often mention three important factors. Therefore, you should take these three factors into consideration to get a 5-star review.
- Quality: Whether the product matched or exceeded the client’s expectation?
- Customer service: How was the customer support? Did they get any special offers?
- Shipping: Orders will arrive on time or not?
You should also analyze the Importance of Reviews on Etsy to get a higher conversion rate.
Learning about what is a good conversion rate on Etsy is not only to analyze statistics and do some calculations. You must follow proper digital marketing strategies to boost your sales and maximise your conversion rate. Consequently, If your product is described in detail, your product photography method is distinctive, your pricing is competitive, you provide special offers and you’re bringing engaged traffic to your shop, you’ll be seeing a high conversion rate.
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