Etsy Payments To Your Banks May Be Delayed

[kmmcrafts]

I seen this news on social media yesterday, of coarse many family and friends know I sell there so everyone is I know is contacting me to tell me, .. Sooo I thought I would do the same to you all..

Good thing I also sell on Amazon so I'll get that $0.02 cents they owe me.. .. really that is my payout for this time.. The way they payout is weird as they withhold payments until two weeks after they have been mailed the item. somehow it worked out that I get 2 cents. My wife told me they was giving me their 2 cents.

Anyway, here is the news story. https://nypost.com/2023/03/11/etsy-sellers-hit-by-silicon-valley-bank-collapse/

[BadBob]

Until the payments don't show, I would consider this speculation at best.

[kmmcrafts]

14 hours ago, BadBob said:

Until the payments don't show, I would consider this speculation at best.

They weren't showing for some sellers late last week. 

Off topic slightly but i just learned a few weeks ago that there is settings to choose how often you get paid your money.. You can choose ( if I remember these correctly ) each time there is a sale, weekly or biweekly.. I think weekly must be by default as I don't remember ever setting this up.. but that's how I get my payout is weekly..

[BadBob]

7 hours ago, kmmcrafts said:

They weren't showing for some sellers late last week. 

Off topic slightly but i just learned a few weeks ago that there is settings to choose how often you get paid your money.. You can choose ( if I remember these correctly ) each time there is a sale, weekly or biweekly.. I think weekly must be by default as I don't remember ever setting this up.. but that's how I get my payout is weekly..

I get paid once a month. I got mine last week.

[kmmcrafts]

2 hours ago, BadBob said:

I get paid once a month. I got mine last week.

Well mine went through today, maybe it's all taken care of now.. It did say it would only affect "some" sellers payments so maybe I'm not in that group of "some sellers" LOL

[Puzzleguy]

etsy sales for me have been a bit slow , but Im not starving yet

so when it comes it comes.  Not to worried about it .

[BadBob]

43 minutes ago, Puzzleguy said:

etsy sales for me have been a bit slow , but Im not starving yet

so when it comes it comes.  Not to worried about it .

Mine are slow too. Views and visits keep steadily increasing while sales decline.

 

[kmmcrafts]

It's showing on my stats page that it's down 15%.. last year was down a little and it was expected for that because I stopped selling international which was around 18% of my sales.. also when it compares from the previous year I felt it'd be super hard for me to get the amount of business I had gotten the past couple years during the pandemic when people were lock in and shopped online.. I could hardly keep up with business. To be honest I've kind of been wanting a bit of a slowdown so maybe one day I could get a chance to play / learn my CNC router better. Could have done it last year but I played with building a old car which was some much needed therapy LOL..

I'm not leaving etsy yet but I sure am not putting in the effort like I used to.. I've been working on a new stand alone website.. My stats show many times how I'm bringing traffic to etsy from outside sources but then they wander off to shop elsewhere.. probably due to etsy showing the customers "similar items from other shops".. I can't make money at what some of those other shops sell at.. most of the other sellers are just looking to get rid of products they make and don't care so much about profits.  

[BadBob]

56 minutes ago, kmmcrafts said:

My stats show many times how I'm bringing traffic to etsy from outside sources but then they wander off to shop elsewhere.. probably due to etsy showing the customers "similar items from other shops".. I can't make money at what some of those other shops sell at.. most of the other sellers are just looking to get rid of products they make and don't care so much about profits.  

When most people say they are building a standalone site, they are creating a shop on another platform. Are you building a site from scratch on a hosting service?

I've seen some crazy prices on toys selling on Etsy. They list an item they made that I know takes many hours to make, and they price it at $10.

[kmmcrafts]

7 minutes ago, BadBob said:

When most people say they are building a standalone site, they are creating a shop on another platform. Are you building a site from scratch on a hosting service?

I've seen some crazy prices on toys selling on Etsy. They list an item they made that I know takes many hours to make, and they price it at $10.

Actually playing with both ideas and doing both, I have toyed with a built site on Wix, yes wix has ecommerce sites but I built a site on their free generic site builder but there is no checkout option so at the time being was just forwarding the purchase button to go to my Pattern site to check out. Google don't like that forwarding though and won't rank on searches.  I also purchased a site (shopify) that is on a platform base. Built from scratch is nice but also a whole lot of work.. I like the idea but not sure I'm up for the work involved. Both will also be a struggle to bring traffic too.. so most likely will see how it goes on shopify. Years ago I had a storefront on indiemade.com and it was working quite well for me, really kick myself for shutting it down, but at that time they had a 300 listing limit and I outgrew it.. in the same period etsy started the pattern site platform and that was quick and easy to set up, however it just hasn't worked as well for both bringing traffic and the site is very glitchy, I currently have a ticket out with them where there with a issue with my pattern site and I wrote them about the issue and have a ticket number so they have received my question and issue but I haven't heard back from them.. going on 8 days and no response from them.. they don't work weekends so no response today means at least 10 days and still no response. On indiemade if there was a question or issue even on a weekend the longest wait I ever had was about 1 hour.. Shopify sounds like they are also on it for customer service. Etsy and Pattern... not so much.. yet they punish their customers for not responding to emails within 24 hours, LOL..   

I've had customers say they couldn't checkout on my Pattern site so they'd end up going to etsy to make the transaction. Items that are on Pattern only the photos don't show up.. There has been a lot of glitches and they don't seem to be improving or even trying to improve upon the Pattern platform. 

[BadBob]

I have built sites from bare metal on many occasions. Even with your many tools on an e-commerce platform, it is a lot of work. I built and maintained web servers for a living before I retired. That's why I don't complain too much about Etsy fees. They do an incredible amount of stuff for you. However, I think they are a bit greedy, and if I ever manage to sell enough there, to be forced into offsite ads, I'm done.

[kmmcrafts]

12 hours ago, BadBob said:

I have built sites from bare metal on many occasions. Even with your many tools on an e-commerce platform, it is a lot of work. I built and maintained web servers for a living before I retired. That's why I don't complain too much about Etsy fees. They do an incredible amount of stuff for you. However, I think they are a bit greedy, and if I ever manage to sell enough there, to be forced into offsite ads, I'm done.

A lot of the reasons why I'm looking elsewhere.. plus several other reasons.. I'm forced into those offsite ads but to be quite honest.. I don't get a whole lot of sales from them so a hand full or two of sales from those isn't killing my business.. at least not yet, LOL 

 It really is still hard to beat these platforms with built in traffic.. But it's nice to have my own site for those larger wholesale type orders I get. Just a couple of those orders pays for the standalone site just in the fees I would get from etsy.  

The best place I've ever sold on was Artfire... It's too bad they changed management and it went down hill and eventually went under. Same thing with Zibbet.. They all have their flaws and strong points.. As a business for a "profit" you just have to calculate expenses into the prices and hope customers will still buy. So far I'm doing okay with it. 

[Scrappile]

Kevin you have three way to purchase from you, I started at Kevskrafts but when I went to pay it somehow ended up at Etsy.  I was thinking if I paid at your kevsKrafts you would get your money right away.

[kmmcrafts]

31 minutes ago, Scrappile said:

Kevin you have three way to purchase from you, I started at Kevskrafts but when I went to pay it somehow ended up at Etsy.  I was thinking if I paid at your kevsKrafts you would get your money right away.

Yes, because Etsy has stand alone website service call "Pattern by Etsy" and it can integrate my inventory between the two sites.. it uses Etsy's checkout system so you're on my website but when you checkout it transfers you to etsy's shopping cart and checkout. I save 5% + $0.20 per item quantity by having people buy from the Website than if they was to just go the etsy and buy the same thing. But the Pattern website by etsy is very full of glitches and issues that they have no intentions to fix so I'm in the process of moving to a different site. Once the site is ready to open I'll transfer my KevsKrafts.com name to go to the new site.. If you happen to have bookmarked a certain listing page you won't find it when I transfer but if you type in my website ( KevsKrafts.com ) you will land on my new page once I get everything set up. I'll likely make a announcement and possibly run a sale to get the word out about the new page and that'll help a ton with search ranking to get a few people going to the new site and looking around and making purchases.. 

The big plus about the website through Etsy was if I sold a item off the website it would remove it from Etsy automatically.. very easy to keep track of inventory etc.. all the money and tax info was just lumped in with etsy's info so bookkeeping was all through etsy too.. It'll be more work to keep up with when I change but I think google and main search engines do not like how it transfers to etsy's checkout.. My sales and views dropped like a boat anchor when I went to the Etsy's Pattern website and I've never been able to build it back up to what it was.