April 2024 Etsy income

I managed to publish one new listing every tuesday, so this is still on schedule.
But I feel it is getting more and more difficult for me to come up with new ideas and create high-quality items. It's like my inspiration dried out and I don't want it the easy by just modifying existing listings and publish them as new items.

This is the reason why I am currently creating a new line of products which differs from the 100+ items I already have in my store.
This might be a big risk as these are completely different and may disrupt the overall view of my shop (and brand). Time will tell if this was a good choice.

A little increase in the amount of visitors compared to previous month: 116 more visitors in April. Which is good as April had a day less than March so the average number of visitors per day increased a little bit.

I hope that I will attract more vistors with the new line of products. But I'm afraid this will take a long time. As seen in the beginning of my shop, it took around 50 listings to see any significant traffic coming in.
And I'm not creating new items at the same speed as I did last year. So fingers crossed and hoping it will work out.

The number of visitors increased but sadly enough, the orders didn't follow the same trend. 3 Orders less than the previous month.
Not only did the number of orders drop, there was also a drop in the sold items. Where as in March, 71 items were sold, in april it was only 59.

This means that the conversion rate also dropped significantly, from 4.5% in March to 3.9% in April.
I see 2 possibilites for this. First is that the new listings I publish are not appealing enough and visitors are hesitant to buy. The second might be recurring visitors who see that the new items are not of the same high-quality as before.
So, it comes down to the same: the quality of my new items is not good enough.
An increasing number of visitors means that there is interest, but it is up to me to find out why they don't buy (and I think I might know the answer already: quality).

I will try creating new listings that meet the high standards and hope the new line of products will take off.

As you might expect, the total revenue of April is less than March. 68.2 less revenue to be precise.
And to make things worse, I had to do a refund for another customer that didn't read the description well.
I am lucky that I have bundles for sale, or the total revenue would even be worse. And I created a new bundle too, in the middle of April but no sales for that one yet.
I am aware that Q2 and Q3 are the worst months for an Etsy shop as people tend to spend more time outside.

Costs for having my Etsy shop in April:
Listing fees: 14.77€
Transaction fees: 10.05€
Processing fees: 22.61€
VAT on seller fees: 10.03€
Offsite ads: 0.38€
Which totals up to 57.84€ in fees.
This, combined with my Midjourney (30€) and eRank (5€) subscription, makes the total cost 92.84€.

Everything combined (155.45€ - 92.84€) makes a total net profit of 62.61€ for March 2023.
A big decrease, isn't it? But still above the numbers of January and February.
I hope to keep my profit around this number during the summer months and then skyrocket during Q4.

Here again, almost the same numbers as last month. But there are 2 numbers that make a big difference to me.

Less people favorited my items but more items were favorited. This means that there is interest in my items.
When someone favorites an item but doesn't buy, Etsy sends an automatic email to that user with a discount code in it. I think I will higher the discount to convince that person to buy.

I had four 5-star reviews and ... two 1-star review.
2 different person did buy exactly the same 2 items on exactly the same day (which is a bit suspicious as those 2 items were never purchased together before). Both sent me a message saying that they were very upset with their purchase because it didn't contain any instructions how to make it, only pictures of the end product. But this is very clearly mentioned in the description.
And this is why these two person gave me a 1-star rating.
It's like you buy a teddybear and you expect to receive the knitting patterns for it.

What aremy plans are for May?
I will try to publish 2 or 3 items per week in my new line of products. And hope that it will not interfere with the existing products.
The summer months will be a calm period for my Etsy shop thus it is the perfect opportunity to add some additional items and get ready for Quarter 4.