Your Etsy shop revenue is a crucial metric that reflects the performance of your business. It’s usually calculated by subtracting any discounts you’ve given from your total sales. However, this doesn’t include selling fees, shipping costs, or fully refunded and canceled orders.

Take Note: While Etsy Support agents can offer assistance with most queries related to the platform, they are not able to provide financial advice to sellers. If you need expertise in understanding your shop totals or anything tax-related, it’s recommended to consult a local professional.

Accessing Your Shop Statistics

Etsy Stats is a powerful tool that offers insights into your shop’s performance, traffic sources, and customer engagement with your listings. For those new to Etsy Stats, we recommend familiarizing yourself with our glossary of stats terms.

To view your Etsy shop’s statistics:

1. Click on ‘Shop Manager’ on Etsy.com.
2. Select ‘Stats’.

In the metrics overview section, you’ll find key data related to your shop such as visits, orders, conversion rate, and revenue. You can customize the time period for which you want to see stats - from November 2017 up until now. For shops open for more than a year, the ‘Compare to previous period’ option allows comparison of current data with that of the previous year. For comprehensive details about your Shop Stats, visit the Etsy Help Center.

Using Your Etsy Shop Stats for Greater Success

Analyzing your business performance over time is critical in developing an effective growth strategy. Etsy’s shop stats offer personalized data that reveals how shoppers discover your shop and engage with your listings. This invaluable information can guide everything from product development to budgeting for advertising.

Tracking Key Metrics

One crucial metric relationship is between visits and completed orders known as your conversion rate. This rate is best measured over longer periods of time and can be influenced by factors such as product photography pricing and customer reviews. The numbers provided in each category provide clues on where to delve deeper next. It’s important to consider how different metrics relate to each other when interpreting these insights.

You can gain perspective by comparing current stats with those from the same time last year while keeping track of major marketing initiatives or promotions that could have caused fluctuations in traffic and sales.

While global average conversion rates for e-commerce sites are estimated around 2.9%, a good conversion rate on Etsy varies significantly across categories and price points but usually falls within 1-5%. As more traffic comes into your shop, the more opportunities you’ll have to increase this conversion rate.

Understanding Key Metrics

1. Visits vs Views

‘Visits’ represent the number of people who looked at your shop or listings while ‘Views’ indicate the total times people viewed each of your listings.

2. Updates Frequency

Visits data refreshes several times per day excluding bot traffic as much as possible. This allows accurate aggregation of visit data which is essential while calculating revenue.

3. Knowing How Shoppers Found You

You can understand where shoppers came from in the ‘How shoppers found you’, breaking down traffic sources including direct & other traffic sources like social media or offsite ads among others. By understanding this metric better, you can optimize where you focus marketing efforts.

4. Insights on Ad Performance

There may be discrepancies between ad clicks on the Etsy Ads dashboard and Etsy Ads visits due to various reasons such as multiple clicks within a short time frame being counted as one visit or clicks on ads via the Etsy app not being included.

5. Understanding Search Terms Used by Shoppers

In the ‘How shoppers found you’ section, clicking on ‘Etsy search’ will reveal search terms used by people to find your listings. This can greatly assist in optimizing product listing descriptions and titles.

6. Attribution of Offsite Ads to Orders

Offsite Ads are attributed to orders if a buyer clicks through an ad promoting one of your listings and then purchases from your shop within 30 days. Further details about these attributions can be seen in the Offsite Ads dashboard.

7. Listing Performance Insights

You can see how many shoppers viewed and ordered your listings, along with other metrics like favorites and revenue for each listing. For a more detailed performance review, click on individual items

Understanding Traffic Sources

The ‘How shoppers found you’ section shows internal and external traffic sources that brought visitors to your shop during the selected period. Clicking on each source provides a more detailed view of the information available.

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Referral Traffic Breakdown

• By Etsy: Includes traffic generated by Etsy through various channels like the Etsy app & other pages and Etsy search as well as marketing & SEO.
• By You: Includes Direct & other traffic links from blogs, news sites, and other websites. It also includes visits generated from each social media channel (including Instagram, Pinterest, Facebook, Twitter, and Tumblr) and traffic generated by Etsy Ads.

How To Compute Your Stats Revenue

To get a detailed view of your revenue statistics on Etsy, you can download and analyze an Orders CSV file from within your shop manager. This step-by-step guide will walk you through how to do this:

1. Head over to Etsy.com and navigate to Shop Manager in your account.
2. Click on Settings.
3. From there choose Options.
4. Next up is Download Data, click on it.
5. From the dropdown menu choose Orders as the CSV type.
6. Select the specific month and/or year for which you want data (leave the month blank for an entire year).
7. Save the file on your computer by clicking on Download CSV.
8. Open this downloaded file in a compatible software like Microsoft Excel, Google Spreadsheets, Quickbooks, etc.
9. Calculate the following using your program’s tools:
   • Total item costs in the Order Value column.
   • Total discounts applied are listed in the Discounts Amount column.
10. Subtract the total discount amount from the total Order Value. What you get is your calculated revenue or as Etsy calls it — your Stats Revenue.

Understanding and keeping track of these stats will help you plan better strategies for promotions and sales. It’s worth noting that this revenue does not account for all expenses related to running your shop on Etsy and hence should not be confused with profit.

Avoid Common Etsy Revenue Calculation Pitfalls

Here are some common seller pitfalls when calculating Etsy Shop Revenue:

1. Ignoring the Impact of Discounts on Revenue

Many sellers often overlook the impact of discounts when calculating their revenue. They only consider total sales, forgetting that any discounts given to customers lower the overall income.

Recommendation: Always subtract any discounts you’ve offered from your total sales when calculating your revenue. This will give you a more accurate picture of your real earnings.

2. Not Considering Refunded and Canceled Orders

Sellers sometimes fail to account for refunded and canceled orders in their revenue calculation, which can lead to overestimation of earnings.

Recommendation: Make sure to deduct the values of all refunded and canceled orders from your total sales before arriving at your final revenue figure.

3. Misinterpretation of Visits and Views

It’s common for sellers to confuse visits with views, leading to incorrect assumptions about customer engagement levels.

Recommendation: Understand the difference between visits (the number of people looking at your shop or listings) and views (the total times people viewed each listing). Use these metrics correctly to accurately gauge customer engagement.

4. Neglecting Conversion Rate Analysis

Etsy shop owners often focus heavily on increasing traffic but pay less attention to conversion rates, which are equally important for business growth.

Recommendation: Regularly monitor your conversion rate (the ratio between visits and completed orders). If it’s low despite high traffic, consider improving factors like product photography or pricing strategy.

5. Overlooking Seasonal Sales Fluctuations

Sellers sometimes panic when they see a drop in sales or visits during certain periods without considering seasonal fluctuations that naturally affect consumer behavior.

Recommendation: When analyzing trends in visits, orders, conversion rate or revenue over time, remember that many shops experience seasonal fluctuations. Consider this factor when setting sales targets and developing marketing strategies.

Conclusion:

In conclusion, understanding your Etsy shop’s revenue calculation and effectively utilizing Shop Stats are paramount for driving growth and profitability. These insights not only enable you to keep tabs on your financial performance but also influence your strategic decisions - from product development to marketing efforts.

By familiarizing yourself with key metrics like visits, views, conversion rate, and revenue, you can spot trends, identify opportunities and address challenges more efficiently. Remember that every piece of data tells a story about your business – knowing how to interpret this narrative is what sets successful sellers apart.

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