Rise of the Etsy Fees
So you may have heard that on Monday 11th April, Etsy have increased their transaction fees from 5% to 6.5%, that’s a rather big increase considering that this will definitely hurst small businesses like myself. I have therefore increased the prices so that I am able to cover myself. Some Etsy sellers have decided to strike this week in protest of the hike in the fees, however, I’m not taking part in it as I fear it will make a dent on my profits.
Etsy sellers are going on a weeklong strike after the handicraft marketplace hiked its transaction fees by 30%.
The increase is the latest frustration for sellers already subjected to other mandatory fees and “punishing” vacation policies. pic.twitter.com/RYo3LBreYC
— AJ+ (@ajplus) April 12, 2022
Dorothy and Belle on Twitter are transparent about their profit and what Etsy takes.
In support of the #EtsyStrike I wanted to share my profit summary for last month.
Sales: £83
Fees: £15.8119% of my sales went back to Etsy last month in fees 🙃 (this doesn’t include the marketing service I paid for) pic.twitter.com/bGV18F4gCG
— Dorothy and Belle (@DorothyAndBelle) April 11, 2022
It’s something I didn’t want to do as I want to make my work accessible and affordable which it always has been, whilst at the same time Etsy takes a huge chunk of what I earn hence the rise in prices. Don’t get my wrong, I have enjoyed using Etsy’s platform as it has allowed me to test products out and to get my work out there to a larger audience. I have probably shut myself into a tight position as I no longer offer shipping to international customers- no thanks to Brexit- and, admittedly, it has been rather quiet over the past couple of months. See this post from Kittygorian on Instagram, the post explains clearly what the increase in fees mean for Etsy sellers and customers.
I’m going to be quite frank here but say if I sell a postcard I make no money from it due to the fees. And if I sell a print then Etsy will take £3+ from it- crazy, right? So I can see why sellers are constantly pushing their work out there on social media. In all honesty- and so like many other Etsy Sellers- I will see what happens in the next few months. If it’s not worthwhile then I will simply close it and open up a shop which I can integrate it with my website. It’s not an easy decision to make as I have spent many, many hours writing up product descriptions, editing photos, writing SEO for all the listings… the list goes on and on. I’ve had my shop open for more than 10 years now so it’s not a choice that I can make overnight.
If you’re an Etsy seller then I’d like to hear your thoughts on it. What do you think of the Etsy fees? Are you going to stay or leave?