More Etsy sales when you pay attention to "rationalized wants."

[@LailasLoft]

It fits with the "Red Lipstick Index" a term used during the recession when cosmetic sales increased, people still want to buy things to feel good.

[@KaraBuntin]

Mine would be the "chapstick index."

[@jennyjumpjump]

During the housing recession, my shop was on fire (in a good way). I think a lot of products are luxury but much cheaper than the alternative. For instance during recessions people will make some improvements to their existing home or buy decor *instead* of buying the more expensive house they really wanted. They're making do with what they have until the economy gets better. Luxury items can also be justified as "self care" to keep your spirits up when everything else is difficult

[@KaraBuntin]

That's right!

[@Sacred.Wisdom]

Thanks for this video. I have given this idea alot of thought since early January and I've made the following observations: 1. As you mentioned, there are people who have disposable income and are still spending. 2. One person's want is another person's need. So a crucifix may be a want for some purchasing a Jewelry item, and a need for people of a particular faith or celebrating a particular religious event. 3. Someone may not justify purchasing an item for themselves, but can justify purchasing it as a gift for someone else. So I try to market items as "giftable" in my listings. 4. Like you said in the video, and your coined expression "rationalized wants" ( I'd TM that by the way), people can justify their spending if they think they are getting a "deal" on something they will need in the near future or something available for a limited time. So in summary, I'm moving towards, marketing items as gift sets available in limited quantities for a limited time. PS...luv your hairdo...looks fresh for the spring.

[@KaraBuntin]

That’s a good summary… the gift angle is the easiest because you can also go for the “you deserve to treat yourself” angle. There has to be a different term for the rationalized want idea. I checked and couldn’t find anything online and i checked with my friend Amy The Economist and she said there isn’t a term that she’s aware of, but the behavioral economists might have one.

[@michellegambardella9648]

Yes; some of us still are OK. I just bought a new Jeep; didn’t NEED a 40k car but I wanted one and was able to justify it. Carvana’s marketing worked on me for 30 days before I pulled the trigger. This is 100% spot on.

[@KaraBuntin]

With the big recession in 2008, I was still doing wedding cakes and people who did the fundraising galas where I would donate things canceled everything because it "wouldn't look good to spend the money on a party at this time." But they still sent out donation requests, and they still got donations from donors, so the money is still there.

[@JudithEMoore]

I just purchased the book "Nudge" and looking forward to bringing buyers to my shop. You always have the best and useful guidance.

[@KaraBuntin]

Hope you enjoy it!

[@tylerbhumphries]

This was a really great video. I’m going to think about what you said throughout the day and come up with reasons for why someone should buy my products even if money is tight. I think coming up with these reasons will help me write better descriptions of my products.

[@KaraBuntin]

Glad it was helpful!

[@mrs.quills7061]

People everywhere are feeling financial woes (groceries really suck right now and I honestly wish I had a home to make a garden), but I think overall people are more okay than we’re made to believe. Generations of people have gone through much, much worse without nothing to fall back on, so I’m not going to panic. I like your idea on marketing strategies, I’m not sure how exactly I could frame my stickers and art prints into purposeful items besides decor or a fun gift, my bookmarks and greeting cards though serve a purpose I believe.

[@KaraBuntin]

Your stuff would be a "give yourself an affordable treat" kind of message.

[@jennyjumpjump]

I sell art prints too. When people can't afford the better house that they want or need, they tend to remodel or redecorate. Also renters usually can't do anything permanent to their homes so they'll buy things to hang on the wall and justify that they can take it with them no matter where they go. A lot of my customers purchase my artwork after repainting a room and their decision is strongly tied to picking out paint colors or new curtains.

[@mrs.quills7061]

@kara buntin and @jennifer comstock I really appreciate your ideas thank you. ☺️

[@jen_crochetfun]

I think you are right about people being more hesitant because I have seen a big jump in items sitting in people's carts. So I hope that they will eventually convince themselves to buy.

[@KaraBuntin]

They will if you give them the reasons to!

[@lenaa.4508]

I 100% agree with the baby item thing. My sales on other listings are pretty slow right now, but my baby clothes have actually picked up this week!

[@KaraBuntin]

Thanks for sharing!!

[@joyking7609]

Love your hair!❤

[@KaraBuntin]

Thank you!

[@spottedbearknits3824]

Agree!!

[@barthennin6088]

Great video! Having come from a direct sale background, I can vouch that you are exactly correct on this. It is commonly said that people buy on 90% emotion and 10% logic but a more modern thinking is that people buy on 100% emotion but use "logic" to rationalize their purchase. Thus, we as marketers want to create all those emotions that trigger people to buy but also give them a logical "excuse" or "justification" to buy... Something they can credibly tell their friends or spouse!

[@KaraBuntin]

Absolutely!

[@birdsong63]

I always take notes on your videos, Kara. This is an excellent discussion, especially during these times. The "rationalized want" is great. With selling jewelry, emphasizing the "gift" consideration is definitely a good idea, as well as "why you deserve this for yourself." Thanks for sharing this with us!

[@KaraBuntin]

thanks!

[@ssfoster95]

Totally going to update my description on how my shimmer watercolor paint can help you make cards and invitations etc. Thanks for this video.

[@KaraBuntin]

Sounds great!

[@ubonrat8653]

Love your point about 'describing practical uses and long term value in descriptions'

[@KaraBuntin]

It's definitely part of the selling points. I bought some reusable kitchen towels during the paper towel shortage/panic a couple of years ago, and I'm still using them now. That's the kind of product that you can really emphasize the benefits of even though it's cheaper (in the moment) to buy paper towels.

[@KaraBuntin]

@@brendamorales3366 The people who read descriptions are the ones who are on the fence about buying the thing, so the description is where you need to sell it!

[@jennadepifanio7245]

Love this! I finally started my shop this week after researching and watching your videos since January. Thank you for making me confident enough to begin my shop! When you start your shop how long would you say to wait for a sale before thinking you need to re-evaluate the structure and prices. I haven’t made any sales other then my friend ordered from me. I make hand dyed onsies (endless white onsies so I hand dye mine to separate from competition and they’re gorgeous). Should I just be patient? I’m also currently posting daily content to Instagram, Tik tok and Pinterest. Thanks 😊

[@KaraBuntin]

You need to be patient and watch the SEO to make sure that you're being found for good keywords. Also be careful of using "onesie" because it's trademarked by Gerber and they file takedown notices! I think you have to say "bodysuit" instead.

[@jennadepifanio7245]

@@KaraBuntin I had no clue about the onsie thing! Thank you!

[@P-Funk69]

Kara - interesting point about the rationalization of 'the baby needs it', a sort of need. do you think though that buyers actually read the descriptions?, bc i find that many do not, they just go on the pictures ( i sell jewelry, gifts, homegoods). i have soooo many buyers buy stuff then later say, oh i didnt read the size, description etc. maybe if there is a way to sell it more through the photos, with lifestyle etc (which i try to do) - it might be even more important than the description or value added statement - what do you think? BTW you are my fave etsy youtuber bc you talk to us like a normal person....! ;)

[@KaraBuntin]

Well thank you! I think that descriptions are really important for the people who are interested in buying but aren't 100% sure about the details yet. You can put basic info in the listing photos but the people who read the descriptions are the ones who need a little more "selling."

[@inezkuijtnaiveart7873]

@@KaraBuntin Yes true, I always read the whole description before buying.

[@EdgyVidyaGeneral]

I think Etsy itself is, in general, tailored to customers who have discretionary income who are willing to spend more for handmade / artisan products. Rather than appealing to a 'bargain shopper', or someone who is cost-conscious, we should be selling the benefits of our products more than ever. For example, a higher ticket store like Chanel is in the business of selling luxury for a premium. If they chose to go the 'cost-conscious' route, I think they risk damaging the prestige of their brand as a luxury. I'm not exactly trying to liken Etsy to Chanel, but it may be worth considering that the people browsing Etsy are, in general, prepared to spend more.

[@KaraBuntin]

I 100% agree, and you should see how much I edited out of this video that talked about that.

[@lisac.2438]

I saw someone on this channel on CNBC Cost of Free shipping! Congrats!

[@KaraBuntin]

And they didn't even misquote me!

[@lisac.2438]

@@KaraBuntin 🤣

[@louhortonsculpture]

Why didn’t I think of this! Of course! I have a liberal arts degree in ceramics. My biggest skill I learned was to justify ANYTHING! 😂

[@KaraBuntin]

I'm dying because I've sat through so many studio art critiques...When my kids were little I taught them how to justify presenting an empty gum container as an art project that you're turning in for a grade. The most important part of being a studio art major is learning how to BS your way through critiques with a straight face.

[@MachineQuiltingwithSallyTerry]

I am seeing picture reviews from customers added to the etsy listings. That would be a great way to justify your 3rd way...of want/need. How do I add the pictures of the review? I am assuming it is done in canva or is there a way within etsy itself. I think it would be a great topic for you to expand on if you have not already. Have been looking and don't see anything on it out there. Thanks for all you do. S

[@KaraBuntin]

Etsy is doing that, it’s either a test or it’s new. You can do that in canva if you wanted to.

[@MachineQuiltingwithSallyTerry]

@@KaraBuntin One more question if you don't mind. I have been given the opportunity to do video listings. Do you have any information I could look to for how-to's and suggestions? Have the equipment just interested in a guide. You are so generous with your time and knowledge...thank you. S

[@KaraBuntin]

@@MachineQuiltingwithSallyTerry Do you mean listing videos for each listing? That's just a short video with no sound, so make them short and sweet!

[@letsgo6850]

Hi, hope all is well. I've watched a few of your videos about Esty over the last couple of hours, very informative, thank you. My issue is finding or choosing the correct tags and keywords as nobody has really seen my prints before with an entire book on, they're for Book Lovers aswell as if someone who wants WallArt Prints. I opened the store late November. I've made 33 sales with all 5 star reviews and my conversation rate is 1.3%, I just don't have a clue if I'm doing it all right or not if I'm honest, struggling out here. Anyway, hope everyone is well and feedback is welcome. Kind regards Dan.

[@KaraBuntin]

If you have a product that people don't know about it's definitely harder. You have the added job of letting people know that your product exists, which is just going to make it more complicated.

[@letsgo6850]

@@KaraBuntin Hi, thank you for replying, much appreciated. Yes this is definitely correct, suppose I'll just see how it goes, really to do ok on the platform as Covid hurt me like it hurt everyone unfortunately.

[@mosadab2811]

It is change algorithm in etsy because I have 2 shoop one suspend make 2000$ revenue butmy new shop only. View 1 at all time what happened I am not understand

[@KaraBuntin]

It's hard to say why things are slow, but if Etsy suspended one of your shops it might affect the other one.

[@mosadab2811]

@@KaraBuntin we use same keyword suspend shop to new shop

[@TheLilliBlue]

Truth works. In a capitalist country where you spend your money is your power. Spending it in small business is supporting someone just like you who is making a living through what they sell. Most etsy folks or at least used to be are one woman shows. I would buy your cake decorations not because I want my friends to be jealous but because I want to give my friends and guests a much needed lift. By supporting a crafts person who makes beautiful things it is a win win. My guest enjoys a fancy cake that not only tastes good but is pretty. I get great party pictures that make lovely memories and do it all on the direct connection with the person who actually made the decorations.

[@KaraBuntin]

You'd be surprised how many people do it to make their friends jealous though haha!

[@TheWorldisSoDivided]

How do you sell when you are a quiet loner? That’s my problem.

[@KaraBuntin]

Join my Facebook group to find all the other quiet loners. I am also a quiet loner, you wouldn't know it because I do youtube, but a lot of people who do youtube are loners!