The pandemic practically drove my income straight off the cliff from the get go with no end in sight at the time of me writing this.
Why Start an Etsy Shop?
Having an Etsy shop can help reach customers in certain countries a little easier.
Okay in the beginning, but now…
It was okay when I just started the shop a couple of months ago (April 2020), when someone makes a purchase the payment goes straight into my PayPal account.
Then Etsy made it compulsory for all sellers to use their Etsy payment method.
Yes, buyers get a lot more payment options but then I found out I actually lost money from a sticker sale after Etsy deducted various fees and gave me a crappy conversion rate.
As a comparison, I was making a profit from the same item when payment went straight into my PayPal account.
On top of that, the payment from Etsy took 7 days to appear in my bank account compared to receiving customer’s payment received immediately in my PayPal account.
To date (July 2020), I’ve made 11 sales in the Etsy shop.
Should I Close Shop?
I thought about closing down the Etsy shop. After some consideration I decided to give it another go for a couple more months.
I have no choice but to adjust the prices of items in the shop and repackage some offers.
Will see in a few months and if there is no money to be made I’d probably be better off closing the Etsy shop.