Last month, Etsy unveiled the beta version of their brand-new loyalty program Etsy Insider. This invite-only program comes with benefits for buyers and shop owners alike. But is it right for your shop? Here’s what the eRank team knows about it so far—it may not be suited to everyone!
Etsy Insider for Buyers
This September, Etsy will invite a select group of buyers in the United States (US) to participate in the Etsy Insider beta. Benefits include:
- Exclusive discounts on items
- Early access to new products
- Free US domestic shipping
- A birthday bonus (please note that Etsy did not go into detail about what this will be)
- A limited edition tote bag
Might there be additional perks in store for buyers in the future? Let’s wait and see. In the meantime, let’s talk about how Etsy Insider can benefit sellers.
Etsy Insider for Sellers
Etsy sellers from around the world can participate in Deals and/or Drops for Etsy Insider. To partake in these programs, Etsy requires that sellers “…have a strong track record of sales and positive reviews.” By “strong,” perhaps they mean consistent? Or a lot of? Or both?
If your shop meets the platform’s qualifications, you can offer one or both of the following to Etsy Insiders:
- Deals: Provide a limited-time 50-75% discount on an item in your shop. Etsy will advise you on how many units of that item should be marked down.
- Drops: Grant members of the program first access to a new product. Etsy will collaborate with you to create the item.
Etsy describes Deals and Drops as “…a great opportunity to showcase your amazing listings in a dedicated space on Etsy and in marketing emails to engaged buyers.” These programs could be particularly ideal for sellers without large social media followings who want more exposure. Interested in participating? Click HERE to find out if your shop qualifies.
Additional Information
As a seller, you won’t need to opt into Etsy Insider or change your order fulfillment process. Buyers in the program will be able to use their Etsy-sponsored discounts at any shop.
You will not be compensated for any discounts you choose to run as part of the Deals program. However, please note that Etsy will cover all other benefits offered, including free US domestic shipping. This means that you’ll still be paid your full shipping fee, just like normal.
Things to Consider
Will Etsy Insider Deals and Drops benefit your shop? Well, there are a few things to consider. Let’s start with the thing that is probably on your mind right now—a 50-75% discount?!
Yes, you read that correctly. And yes, that is a very large discount. Want to offer a substantial markdown without losing an excessive amount of profit? Try offering a low-cost item to Etsy Insiders. If your items typically have higher production costs, Deals may not be ideal for you.
On a related note, you may struggle with Drops if creating your products involves a substantial amount of labor. While Etsy will help you create a blueprint for the item, remember that its production still falls onto your shoulders.
Finally, it’s important to note that this program is currently in beta. This means that certain things within the program—such as the required discounts and number of early-access items for sellers in Deals and Drops—may change. It’s up to you to reassess the benefits that participating in Deals and Drops provides for your shop whenever Etsy makes any changes. Stay in the loop by regularly checking your email inbox for communications from the platform regarding Etsy Insider.
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