The “Make an Offer” tool is an optional pricing feature on Etsy that gives sellers the power to allow buyers to propose their own prices on selected or all listings. This tool incorporates a safeguard where you set the lowest discount amount you are willing to entertain, preventing buyers from making offers below your acceptable range.

Using this feature can form a vital part of your sales strategy, giving you more flexibility in pricing and potentially increasing customer engagement. It complements other promotional tools such as thank-you offers and promo codes.

Please note that currently, the “Make an Offer” tool is only available for sellers and buyers transacting in USD and does not function on the Etsy Seller App. You can provide feedback through this survey as we continuously enhance this new addition.

How Does the “Make an Offer” Tool Work?

This tool enables flexibility and strategic customization in pricing your listings, setting maximum discounts to avoid lowball offers, and receiving and reviewing offers from potential buyers. Additionally, it provides an option for further negotiation with customers. Should you decide that the feature isn’t for you, you can easily opt out at any time. The aim is to give sellers more control over their pricing strategy while simultaneously offering a personalized shopping experience for buyers. In this section, we will explore how Etsy’s “Make An Offer” feature functions.

Customization and Strategy

You can customize your pricing strategy by selecting which listings should allow offers. You have the flexibility to decide when it’s best to entertain offers on your listings. You also have the option to permit offers on all of your active listings.

Setting Maximum Discounts

To save time sorting through lowball offers, you can set the maximum discount you’re willing to consider. The discounts can be 20%, 30% or 40% off your list price. For example, if you have a $100 listing and choose a maximum discount of 20%, any offer below $80 will be automatically rejected without notifying you.

Alternatively, if you prefer being notified about every offer regardless of its value – select “Receive all Offers”. This could potentially provide insight into buyers’ price expectations and help shape future pricing strategies.

Receiving and Reviewing Offers

The selected listings will display a “Make An Offer” button for buyers who are interested in discussing item prices or making bulk purchases.

Offers are received through Etsy’s Messages tool where sellers can follow prompts to send an adjusted price if they wish to accept an offer. Each adjusted offer is valid only for 48 hours and is specific only to that customer and listing. If multiple targeted offers or promotion codes are active for the listing, only the highest discount applies at checkout – except free shipping coupons which can be used alongside other offers. Sellers also have an option for further negotiation with customers via Messages before agreeing on a final amount.

Flexibility with “Make an Offer”

If you decide the “Make an Offer” tool isn’t for you, fret not! Etsy allows sellers to opt in and out of this feature as per their convenience. Whether you want to clear out inventory or introduce a new product line, it’s entirely up to you when to enable offers on your listings.

Note: Etsy is keen on hearing feedback from sellers about this new feature via this quick survey. While currently exclusive for sellers operating in USD, Etsy plans on expanding the “Make An Offer” tool further and will keep its community updated accordingly.

Setting Up The “Make An Offer” Tool

To activate this feature, follow these steps:

1. Open Shop Manager and navigate to Marketing.
2. Click on Sales and Discounts
3. Under Help move your inventory with Make an Offer, click Set up.
4. Choose whether you want all listings or specific ones to be offered by buyers for negotiation.
5. If opting for specific listings, select Edit to change accepted offer items post-initial selection.
6. Set the maximum discount percentage you’re comfortable accepting from buyer offers or select Receive all offers if open-ended negotiations suit your business model better.
7. Lastly, click on Save and apply.

Remember that adjustments related to your maximum discount setting or which listings are included under the “Make An Offer” tool can be changed at any time based on your selling preferences.

How Does It Work Alongside Other Sales & Discounts?

Apart from free shipping offers, the “Make an Offer” tool cannot be used in conjunction with other sales and discounts. If a sale is already running on an offered item, the higher discount will be applied at checkout.

Deactivating The “Make An Offer” Tool

To disable this feature:

1. Go to Marketing under Shop Manager
2. Click on Sales and Discounts
3. Under You’re accepting offers from buyers, you can see the number of active listings and maximum accepted discount.
4. Choose Edit settings.
5. To remove individual listings, select Edit, or choose Remove the “Make an offer” option from my listings to deactivate all products.
6. Hit Save to apply changes.

This setting can be altered at any time based on your discretion.

What Happens When A Buyer Makes An Offer?

Buyers can see a “Make an Offer” button on selected items listed by you. When a buyer makes an offer, it starts a message thread in your Messages section - these messages do not affect your Star Seller 24-hour response measurement.

Here’s how you can accept a discount offered by a buyer:

1. In the offer message, click on Review offer.
2. Either approve the initial price or enter a mutually agreed upon price in the Final Price section.
3. Click on Send final price - once sent, buyers need to return to your listing and restart their offer if they wish to propose another price.
4. The buyer then has 48 hours to accept this new offer by clicking Complete purchase.

It’s important to note that even after accepting their offer, buyers are not obligated to complete their purchase nor is the product reserved for them - it may sell out before they finalize their transaction.

Note: Changing your item’s list price nullifies any open offers that would require buyers’ re-submission for consideration. To avoid confusion, it’s advisable not to alter item prices or currency settings while an offer negotiation is ongoing.

Advantages of Allowing Offers

As you explore the potential of Etsy’s “Make an Offer” tool, it’s important to understand the clear advantages this feature can bring to your business. Here are some key benefits that demonstrate why allowing offers could be a game-changer for your online store:

1. Clear older inventory: Move older items faster by allowing offers and making room for new inventory.

2. Encourage bulk purchases: Review shoppers’ offers based on the quantity of the items they’re purchasing.

3. Quick sales: Sellers who’ve tested this tool reported most accepted offers were purchased within three hours.

4. Testing pricing strategies: For unique items that are hard to price, find a balance with your buyers while setting a maximum discount limit.

Frequently Asked Questions About Etsy’s “Make an Offer” Tool

1. Can any buyer make an offer on my listings?

Only buyers who have their currency set to USD will be able to submit offers on enabled listings. We are still testing this feature, so not all buyers may see the “Make an Offer” button on all enabled listings.

2. Can I modify which listings are included after enabling “Make an Offer”?

Yes! You have complete control over which of your listings you want buyers to make offers on and when they can do so. This allows you flexibility with your pricing strategy over time.

3. Is a buyer’s offer binding?

No, buyers’ offers aren’t binding. If you send the buyer an adjusted price, they have 48 hours to check out at that price unless the item sells first. Another buyer can still make offers or purchase it at its original price until the deal is completed at checkout.

4. What happens if I change my item’s price while negotiating with a buyer?

We strongly advise against altering your item’s original price during active negotiations as it voids any open offer and requires the buyer to resubmit their proposal.

5. Do offer messages affect my Star Seller response rate?

No, even though you receive these proposals through Etsy’s Messages tool, they don’t count toward your Star Seller response rate. However, prompt responses are recommended for a smoother transaction.

6 Can buyers return items they have made an offer on?

Yes, the return or exchange of an item is determined by your return policy for that specific listing, regardless of whether the buyer made a purchase after receiving an adjusted price. Learn more about setting your return policy here.

7. If a buyer makes a purchase after agreeing to a final price, does that order qualify for Etsy Purchase Protection?

Yes, orders following agreed final prices still qualify for Etsy Purchase Protection as long as they meet the usual eligibility requirements.

Conclusion:

In conclusion, Etsy’s “Make an Offer” tool is an innovative feature that puts sellers in the driver’s seat, giving you more control and flexibility over how you price your items. By allowing buyers to propose their own prices on selected or all listings, this tool adds a new dimension to customer engagement and opens up possibilities for increased sales. While it’s currently limited to sellers who transact in USD, rest assured that further expansions are underway. Always stay open to feedback and continually adapt your strategies based on insights gained from buyer interactions. Remember, whether you’re looking to clear out inventory, encourage bulk purchases, make quick sales or test your pricing strategy, this tool can be tailored to fit your needs. The key is understanding how it works and leveraging its features effectively in line with your business goals.

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