Earlier this month, Etsy debuted its IPO at $31 per share. The popular site – designed for a community of crafters to sell handmade trinkets – surprised the market, with investors willing to pay almost double the original share price on the first day of trading.
Whilst people have jumped at the chance to make a profit from the website, there is already a flurry of creative sellers reaping the benefits from Etsy. Most notable of all, the huge selection of wedding vendors.
A £10 billion industry
From cake toppers to hand-written calligraphy thank you notes, Etsy is a one-stop shop for imaginative additions to your big day. Despite the 2012 ‘Wedding Gate’ scandal – when users were enraged by changes made to the items displayed on the home page – Etsy wedding vendors have continued to thrive, with many money-saving couples looking for bespoke items on a budget.
A space for even the most niche creations, Etsy has been a catalyst for many home businesses. Starting in a bedroom or kitchen space, many sellers have expanded to cater to a worldwide audience thanks to the site.
Etsy has been such a fantastic ground for young businesses to flourish largely due to the small fees it imposes on sellers. Listing a product costs a mere 20 cents for 4 months. Once sold, Etsy takes 3.5 per cent of each sale.
Whilst there’s no guaranteed market for a seller, the wedding industry is huge and couples are always looking for new ways to make their big day original. In fact, statistics published by hitched.co.uk showed that the industry is worth a staggering £10 billion, and the average wedding – stretching from the engagement to the honeymoon – costs around £36,000 in total. With couples spending an average of £885 on stationery alone, according to the statistics, you can see why so many people are exploring new ways to save a bit of cash and do things a bit differently.
Etsy caters to the needs of those people, offering completely original items that aren’t mass produced like the ones you’d find on the mainstream market. It’s also given online traders a great opportunity to claim their own small piece of the £10 billion wedding pie.
The importance of reliable delivery services
Such special trinkets and adornments need swift delivery and TLC to ensure they arrive in one piece. Etsy sellers have a big task on their hands when it comes to ensuring good customer service. They need a courier service that will handle their handmade items with care, transport them on time for the big day, whilst still offering a competitive price that the vendor can then pass on to the customer.
Etsy shoppers are often looking for something that’s one of a kind. That special piece that you can’t just buy in a shop. The sentimental value alone is often worth more than the hours put into each item and if it fails to make it to the customer in one piece, you’ve got a disaster on your hands.
Etsy may boast low fees and commission, but it takes no responsibility for insuring parcels. We may think the wedding industry is a lucrative gold mine, but the pitfalls that come with trading online present us with plenty of challenges to overcome, so make sure you do your homework and select a courier service that is reliable and quick.