As everyone is very much aware, these are uncertain and stressful times for a lot of people around the world. There have been studies about the impact of COVID-19 on economies and ecommerce. A couple weeks ago, we asked over 500 Etsy sellers how their shops were performing in the midst of the Coronavirus. You can get a full copy of the free report right here.
How is COVID-19 Affecting Sales for Handmade and Vintage Sellers?
The biggest question on every Etsy seller’s mind is “how is COVID-19 affecting sales?” We asked sellers to report how their shops have been performing. How are sales relative to this time last year? Are they seeing a decrease in sales? An Increase? No change? Or have they already started seeing an improvement after a dip in sales?
Over half of sellers reported that sales are currently lower than expected. 34% of sellers reported that sales are either unaffected or higher than expected for this time of year. Optimistically, almost 12% of sellers are already seeing an improvement in sales volume after experiencing a decrease.
Which Markets Have Been Impacted the Most?
Although Etsy focuses on vintage and handmade products, there are a multitude of markets within this space. Which ones have seen the highest decrease in sales?
The more niche categories on Etsy are also the hardest hit. Countries around the world have issued lock-down orders and encouraged citizens to stay in their homes. Social gatherings are on hold. This has a clear impact on the billion dollar wedding industry. Almost 80% of sellers in the wedding market reported a drop in sales while only 8% reported an increase. Bags & Purses, Toys & Games, and Books, Movies & Music experienced similar declines.
Pet Supplies is experiencing higher than expected sales. Perhaps due to so many people now spending extra time at home with their pets. Electronics & Accessories is also experiencing an overall increase in sales. More people working from home means more home office needs.
Which Markets are Recovering the Most?
Is there a light at the end of this tunnel? 12% of sellers reported experiencing a decrease in sales but have since seen an increase. Perhaps indicating the beginning of a recovery for some handmade and vintage markets. Which ones saw the most improvement?
As people begin practicing drive-by birthday parades, nearly 20% of sellers in the Paper & Party Supplies market have seen an improvement in sales. Yard signs, car signs, and all manner of printable party decoration have helped this. Similarly, Toys & Games has seen a significant improvement as well. While Pet Supplies and Electronics & Accessories haven’t reported any improvement, they did have a significant number of sellers reporting higher than expected sales. The markets with the most potential for growth are Books, Movies & Music, Bags & Purses, Art & Collectibles, Accessories and Bath & Beauty.
Why We Created This Report
We’d like to thank all who participated in this survey and we hope that this analysis will help independent sellers everywhere make informed decisions for their businesses to blossom. These are uncertain and stressful times for a lot of people. If there’s anything we can do to help, please reach out to us.
Interested in More Information?
Check out the full report to see a detailed breakdown of the most popular markets on Etsy. See how each is performing, the age of shops, and a breakdown of revenue. Has the Coronavirus impacted older shops more or less? Have shops with lower revenue in 2019 seen more of a decrease in sales than shops reporting higher revenue? You’ll find the answers to these questions and more in the free full report.
How is your shop doing? Have you seen an increase in sales recently? Let us know in the comments below.