Life happens, and sometimes we need a break from it all. For Etsy shop owners, there’s an option called Vacation Mode that allows you to step away from your shop for some time.
As the name suggests, Vacation Mode allows Etsy sellers to take a break from managing their Etsy shop. While it’s on, you won’t receive any new orders, but you’ll still able to manage and fulfill existing orders. You’re also still able to issue refunds to customers, cancel orders, and print Etsy shipping labels.
You’ll also be able to set up an auto-reply to anyone who messages you, and put an announcement on your shop page letting people know that you’re away. Here, Etsy shoppers can sign up to be notified via email when your shop returns.
Here’s how to set up Vacation Mode.
You can turn off Vacation Mode later by returning to this menu and clicking “Off.”
Whether you’re looking to take a break or close your business permanently, taking down your Etsy shop can be accomplished with just a few clicks. Before closing your shop, you’ll need to close any unresolved cases, and any overdue fees. You should also fulfill any open orders.
If you want to close your shop but still have open orders that need to be fulfilled, you can turn on Vacation Mode, which will let you complete existing orders without taking new ones. Once you’ve done that, you can finally close your shop and then delete your account.
Here’s how to close or pause your Etsy shop, and then delete your Etsy seller account.
How to close your Etsy shop
Etsy notes that after closing your shop, it can take up to half an hour for their system to process the request. If you change your mind in that time, you can reopen your shop without penalty.
2. Click the “Shop Manager” icon at the top-right of the screen.
3. Click “Settings,” then “Options.”
4. Navigate to the “Close Shop” tab, then click “Close Shop.”
Note that before you can fully close a shop, Etsy requires you to have resolved any complaints, and paid any outstanding fees. You’re also strongly encouraged to keep your shop open until you’ve completed all your open orders.
However, if you’ve paid the fees and resolved the complaints, but still have open orders and want to close your shop, there are solutions.
Once you’ve closed your shop and completed your orders, you can delete your Etsy account.
Etsy shares rose on Tuesday after billionaire Elon Musk tweeted about how he loves the online marketplace.
“I kinda love Etsy,” Musk said in a tweet early Tuesday, adding that he bought a hand-knit woolen ‘Marvin the Martian’ helmet for his dog.
Although the Tesla founder didn’t comment on Etsy’s financial prospects, its stock surged within minutes of Musk publishing his tweet.
Etsy shares were trading around $213.38 per share, up around 2.2% on the day.
Insider’s Meira Gebel reported the 15-year-old online marketplace competes with brands like Shopify, Big Cartel, and Amazon Handmade, but has grabbed its own niche in the market thanks to a seller pool that is made up of over 80% women. As of 2020, Etsy had more than 3.8 million sellers on its platform, up 51% year-over-year from 2.4 million, according to data from Marketplace Pulse.
According to its latest earnings report, the company generated revenue of about $451 million, up from $428.7 million in the previous quarter.
Etsy is one of the largest and most successful online marketplaces, but it’s not a general-purpose marketplace; the site specializes in creative goods such as handcrafted and vintage items.
If you have a product that feels appropriate for the Etsy community, it’s easy to set up your own storefront and start selling on Etsy.
How to sell on Etsy
Getting started is simple – Etsy makes it easy to configure a storefront and list your first product.
1. Open Etsy’s website in a browser and scroll to the bottom of the page. In the footer, click “Sell on Etsy” in the Sell column.
2. Click “Open your Etsy shop.”
3. In the pop-up window, sign in (if you are already an Etsy user) or create a new account. If Etsy recognizes your email address, you’ll be prompted to enter your password. If not, you can create a new account.
4. Create the settings for your shop. You’ll start on the Shop preferences page, where you specify details like the shop language, country, and currency. In the lower-right corner, click “Save and continue.”
5. Continue following the workflow to name your shop, add one or more listings, and set up payment and billing.
6. When you add a listing, be sure to include photos of the product and a short video if possible. If you’re not sure how well a product will sell, you might want to choose a manual renewal in the Renewal options section to avoid having recurring renewal charges for an item that generates no revenue. Otherwise, the form should be fairly straightforward to complete, particularly if you have ever created a product listing on another marketplace such as eBay – you’ll need to specify the price and shipping details, for example, so the buyer can be properly charged for the shipping fee. You can preview your listing and then click “Save and continue” when you’re done.
7. Complete the initial setup by selecting your payment method on the “How you’ll get paid” page and billing information in “Set up billing.” After you complete this page, click “Open your shop” and your Etsy store is live.
8. At the top of the page, click “Shop Manager” to see a dashboard for your store, add new listings, manage sales and shipping, and more. You can also go here to fine-tune your shop’s appearance, add a description and graphic, and track your store’s performance.
Understanding Etsy’s costs
There are three main kinds of fees you need to pay when setting up and maintaining an Etsy shop:
Listing fee is $0.20: A listing represents the overall product you are selling, even if the item has variations such as sizes or color schemes. So even if you sell a garment that comes in four colors, you only need to create a single listing for it at a cost of $0.20. The listing needs to be renewed for an additional $0.20 whenever an item within that listing sells or once every four months, whichever comes first.
Transaction fee is 5%: When you sell an item, Etsy collects 5% of the sale as a transaction fee.
Etsy Payments fee is 3% plus a $0.25 payment processing fee. If a buyer uses Etsy’s payment system to check out of your store, you’re charged $0.25 plus 3% of the sale price. This is similar to the credit card processing fee you would need to pay if you had your own credit card processing account.
Etsy was founded in 2005 to connect small, indie artists, creators, and collectors with customers looking for gifts, collectibles, and goods with a more personalized touch.
Just two years after the site launched, it already had nearly half a million users and $26 million in sales, VentureBeat reported. By 2018, the e-commerce company had racked up some 2 million sellers and 50 million products, according to Yahoo.
It achieved this rapid and continued success not through warehouses but its web of independent sellers. It’s a community of online shop owners that for years has been composed of mostly women – 87% of Etsy sellers identified as women in 2019, the platform self-reported.
Here’s everything you need to know before buying and selling on the Etsy platform.
What is Etsy?
Etsy is an online marketplace where independent artists and crafters can sell their goods. Etsy is primarily associated with handmade toys, collectibles, art, home goods, vintage furniture, jewelry, clothing, and holiday items, in addition to crafts and craft supplies.
Unlike Amazon and Walmart, everything on the site is made, collected, curated, and sold by its sellers. These independent business owners not only produce their goods but manage their orders and inventory, too. Etsy acts as the middle-man, giving smaller, independent creators a platform to find and attract customers.
What you need to know about buying on Etsy
The retail platform sorts its offerings by categories to help customers narrow down their search queries, in addition to offering recommendations for items and sellers based on their browsing history. If you are looking for a specific item, you can use the search bar at the top of the page to find it. But if you prefer to browse based on keywords or item type, Etsy links to various buying categories directly below the search feature.
Anyone can purchase items on the site, whether you have an Etsy account or want to checkout as a guest. The purchasing process is much like other online retailers, allowing you to add items to a digital car before checking out. The e-commerce retailer accepts credit cards, debit cards, Etsy gift cards and credit, Apple Pay, Google Pay, and some bank transfer services and PayPal where the option is available. As a global retailer, some buyers can even pay through country-specific installment methods.
Because all Etsy shop owners manage their inventory, they’re also responsible for their shipping. Most sellers on Etsy ship globally and allow you to choose from various shipping methods, with some even offering a free option. Because each seller chooses their shipping method, ordering from multiple sellers means you’ll likely receive packages from different carriers at different times, even if you ordered them all at once. Luckily, if a shipping issue occurs, Etsy offers a tool to check your order number and shipping confirmation alongside a chat app that will put you in direct contact with your seller to resolve the issue.
What you need to know about selling on Etsy
Those interested in opening up a shop on Etsy will be joining a network of millions of independent sellers. There are guidelines for selling any item on the site. But if you’re specifically interested in selling “vintage” pieces, Etsy has a verification process that begins with you confirming whether the piece is at least 20 years old.
Regardless of what you’re selling, there is no fee to set up your account, but there are fees for when you list, sell and ship your products. To set up a shop, you need to list the following information:
How you want to get paid by buyers
Your bank information to pay Etsy fees
Once you’ve got all this information collected, you can create your first listing. It costs $0.20 to list an item for sale on Etsy. Each item you list has a four-month shelf life before it is sold or deleted. Etsy takes 5% of the sale price of the item and 3% if you accept Etsy Payments, which includes a $0.25 processing fee. And suppose you want to advertise or promote your products on the Etsy homepage. In that case, it will also cost you a specific percentage of your sales or an upfront cost, depending on the duration of the advertising.
As you build out your shop, it’s digital appearance and prices will be essential factors to consider in building a signature brand customers will trust and return to. Many successful creators try to pick out unique usernames, themes, include high-quality images, and practice search engine optimization (SEO) techniques to find potential customers.