January 21, 2014

Spy on The Competition Like Never Before

Filed under: Market Research — Tags: , — Meredith @ 5:39 pm

detective

Want to know what’s selling and who’s selling the most? While this information was always available on Etsy, the wizards over at Etsyology have made it easier than ever! This stats oriented website tells you what’s selling on Etsy and who is having the most success selling there.

Here are some of the fascinating nuggets of info you can glean from perusing Etsyology:

1. Macro Data

This site tells you how many active listings appear on Etsy, how many items were sold last month, what the average sale price was and what the average conversion rate on Etsy was. This info can help you see how much competition you have, how your prices stack up and how your conversion rate compares to Etsy at large.

2. Shops Like Yours/Shops You Want to Emulate
With Etsyology’s shop search tool you can find shops like your own or search for shops with stats you hope to have some day. You can search by monthly sales and listing category (in addition to other criteria) to find shops you want to study. Maybe you want to check out how the competition has photographed their items or tagged their listings, now you can do it!

3. Data by Sales Category
This section is probably my favorite! You can hone in on specific product categories and see which categories have the best and worst conversion rates, what the average sale price is for each category, which shops have the most sales in each category and so much more!

Here are a few of the most fascinating facts I found on Etsyology:

  • Jewelry was by far the most competitive category (over 4 million listings) and this category also had one of the lowest conversion rates (just over 15%). The only categories with a worse conversion rate were quilts, furniture, crochet and art.
  • The best converting category was patterns at a whopping 92.7%! Books/Zines, Clothing, Geekery, Needlecraft, Plants/Edibles, Music, and Bath/Beaty were also high converting categories — all scoring over 30%. These stats are actually pretty consistent with my findings on department stores.  (By the way t-shirts had a conversion rate around 46%, if you’d like to get in on that sweet conversion rate with no up front costs, stop by DropShipDTG for a little help with that.)
  • Although jewelry had a high rate of competition and a low conversion rate, jewelry still sells — over 695,000 pieces sold last month! The low conversion rate is attributable to the massive competition. The other categories where a ton of product sold are Accessories (over 451,000 items), Clothing (over 303,000 items), Children’s Goods (over 266,00 items) and Paper Goods (over 246,000 items). It’s worth nothing that over 27% of the childrens goods sold were clothing.

P.S. One of my fave biz advice experts, Andreea Ayers, is sharing some amazing tips on product marketing. Check out what she has to say! You’ll be glad you did.

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3 Comments »

  1. “The only categories with a worse conversion rate were quits, furniture, crochet and art.”

    is that word quilts? thanks.

    Comment by Elaine Luther — January 23, 2014 @ 11:54 am

  2. Jewelry is very competitive.

    Thanks for the website – I didn’t know about it before.

    Comment by Linda B — January 23, 2014 @ 2:37 pm

  3. Thank you for the link, did not know about this before, also thank you for the other info.

    I watch Andreea’s video’s, worth everyone’s time

    Comment by Elly — January 23, 2014 @ 10:17 pm

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