7 FACTS ABOUT HANDMADE YOU DIDN’T KNOW – AND WHAT THEY MEAN
72% of all shoppers think that handmade items are generally more special than mass produced items (AYTM survey of 1000 consumers).
This is in line with the traditional messaging of makers and artisans. The messaging around uniqueness and is sticking in the consumers mind. Let’s keep it up!
49% think that handmade shopping is likely to continue gaining popularity (AYTM survey).
That means the interest in buying handmade will continue to grow.
25% of consumers purchased handmade products on eBay, Etsy or Amazon. (AYTM survey)
That means that the majority of purchases for handmade products are still made in person, in either a brick and mortar store or transient organized events (craft shows, pop-ups, etc.).
In 2018, Etsy’s Merchandise Sales Volume of the 2.1 Million active Etsy sellers was $3.9 Billion. (Yahoo Finance) The average annual sales revenue per active seller was ~$200.
Etsy is a very competitive marketplace. You are competing with 2 Million other sellers who offer around 50 Million products.
Crafters are younger than ever. 41% are 18-34 years old, 36% are 35 – 54 years old. 23% are 55 or older. (Association for Creative Industries)
Total e-commerce retail sales for 2017 was $453 billion in 2017 in the US, a market reasonably similar to Canada. Total brick and mortar retail sales were $2985 billion in 2017, almost 700% greater than e-commerce.
It is true that e-commerce sales are growing faster than brick and mortar sales. As such, e-commerce is important for makers and artisans. However, finding the right opportunities to sell in brick and mortar environments is by far a better revenue generator than on-line selling.
According to Statistics Canada, retail sales growth in 2018 was weaker than in 2017. Sales declined in four out of the last five months of 2018, compared to the 2017. The retail forecast for 2019 is guarded.
Not every year can be a blockbuster year in retail sales, especially when it comes to spending on handmade items, which most consumers consider non-essential. If you want different, better results for 2019 than in the past you have to add new and different approaches to your current strategy!