I have been dreading writing this post because I didn’t accomplish any of my Etsy goals in 2024. Not even close. I did a ton of work behind the scenes by creating new products but none of the products got listed for sale in my store. I was waiting until I had all of the products on my list created before listing them but I never got that far. I still have 50 item left to make (actually 5 items in 10 different categories). Let’s take a look at my revenue in 2024, what goals I would like to accomplish for 2025 and how I plan to stay on track in order to accomplish those goals.
How Much Did I Make in 2024?
In 2024, I had 3,060 visits to my store, 99 orders, a conversion rate of 3.2% and $583.44 in revenue. That’s better than I was expecting! My visits increased by over 7% over 2023 which is surprising. I was expecting it to be much lower.
While I don’t specifically have advertising costs, Etsy does charge a fee for advertising. They also have listing fees. In 2024, I was charged $118.16 for listing fees and $31.18 for advertising.
2024 Etsy Income: $434.10
What Went Right In 2024
- I was able to create over 100 new products to list in my Etsy store.
- I had 11 five-star reviews.
- I had 2 repeat buyers.
- My visits from social media increased by over 1000%.
What Went Wrong In 2024
- I never listed the 100 new products that I created. I was waiting for the right time to list them but that time never came. I should have listed them as I got each of them finished.
- According to Etsy, I had 74 abandoned carts that total up to $411 in missed profit. I need to figure out a way to get people to check out. Maybe create a better discount for people who abandon their carts.
- I didn’t advertise my store. I attempted to advertise with Etsy but I lost money. I need to figure out how to be profitable at advertising.
- I didn’t update my listings or my store. I think adding a new product every week would be very helpful at keeping my store at the top of the search engines.
Looking Ahead to 2025
In my very first income report in May 2024, I said that my goal with Etsy is $1500-$3000 a month. I still think this goal is completely doable. First, I need a lot more products in my store. I need to get the completed products listed and I need to finish the last 50 products on my list. Second, I need to create and list a new product every week or two from here on out. This is on top of the 50 products I still plan to create and list. Finally, I need to start advertising either on Etsy, on social media, on Google or on all three.
2025 Goals
- List the 100 items I have already completed plus create and list the 50 other items on my list. – I would like to get this done by June.
- Create and list a new product every week or every other week.
- Start advertising on social media
- Create and list bundles for my most popular business forms.
- Create a better abandoned cart offer.
While I was dreading writing this income report, I’m glad I wrote it. I did a lot better in 2024 than I thought and I came up with some really good things I can improve on for the upcoming year. I’m excited to see how much I can make from my store in 2025. I think the items I sell in my store are stuff that people will still buy even if the economy tanks, unlike with my KDP and merch items. People will always need business forms, especially if they are starting a new business because they can’t find a job anywhere else. If my Etsy store starts exceeding my expectations and profit goals, I’ll be able to lower prices to help people who are starting their own businesses in this crappy economy. Unlike greedy corporations, I actually want to help people and I refuse to charge more just because I can.
