Listen to this blog post as a Podcast instead: #37 - GPSR, Is Etsy's $£ down? Instagram scams and things you need to know - The BIG Update

💙 The BIG update episode - I dive into some significant updates that every handmade business owner needs to be aware of, especially as we approach the holiday season.

🎄 With Christmas orders piling up, I wanted to ensure that you have all the essential information in one place, without the hassle of sifting through misleading clickbait or lengthy articles.

🚨 The episode kicks off with a crucial discussion about the General Product Safety Regulations (GPSR), which come into effect on December 13, 2024. If you are based in the EU or sell to EU customers, this is a must-listen segment. I explain the implications of these regulations, emphasising the need for businesses to take greater responsibility for product safety. I share my observations from working with numerous handmade businesses, highlighting the importance of compliance and the potential consequences of neglecting these new rules.

🧡 Etsy financial performance, what they're doing to help sellers and changes

Navigating the Handmade Business Landscape: Key Updates and Insights

The world of handmade businesses can be challenging, especially when it comes to monetising your passion. In this latest update, we’ll explore crucial changes in the e-commerce landscape that every handmade business owner should be aware of, particularly as we approach the busy holiday season.

Important Updates for Handmade Businesses

General Product Safety Regulations (GPSR)

One of the most significant changes set to impact handmade businesses is the introduction of the General Product Safety Regulations (GPSR), effective December 13, 2024. If you operate in the EU or sell to EU customers, understanding these regulations is essential.

What You Need to Know:

• Appointment of a Responsible Person:

  • This individual will act as a liaison with market authorities and ensure product compliance.
  • It’s crucial to determine if you need to appoint someone based on your location and sales channels.

• Product Labelling and Information Updates:

  • Include the manufacturer’s name, registered trademark, and postal address on your products.
  • Provide contact information for your EU-based responsible person.
  • Ensure products have identifying elements like serial numbers and safety warnings in the language of the country of sale.

• Enhanced Product Traceability:

  • You must be able to trace the origin and journey of your products in case of issues.

• Conduct Risk Assessments:

  • Perform and document risk analyses for each product.
  • Maintain up-to-date technical files and compliance programs.

Legal Advice is Key

Given the complexity of these regulations, seeking legal advice is crucial. Resources like Rocket Lawyer provide accessible legal assistance tailored for small businesses.

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Etsy Marketplace Insights

In addition to GPSR, recent updates from Etsy reveal some concerning trends:

• Gross Merchandise Sales (GMS): Etsy reported a 6% drop in GMS year-over-year, indicating a challenging marketplace.
• Active Buyers: The number of active buyers decreased by 0.4%, now sitting at 91.2 million.
• Gifting Trends: Despite the overall decline, gifting trends have outpaced site-wide performance, indicating a potential area for growth.

Etsy's Response to Challenges

Etsy is taking steps to enhance the seller experience:

• New Search Visibility Page: This feature helps sellers improve their shop visibility.
• Increased Support: Etsy has added more agents to their support team for faster resolutions.
• Purchase Protection: Etsy is expanding coverage for refunds on qualifying orders, providing sellers with added security.

Instagram Updates

Instagram is also testing new features aimed at enhancing user experience:

• Reels Explorer Page: Notes will indicate why a Reel performs well, helping creators optimize their content.
• DM Enhancements: New stickers and features are being introduced to improve direct messaging.

Final Thoughts: Embrace the Changes

As we approach the end of 2024, it’s essential to stay informed and adaptable. The GPSR changes may seem daunting, but they aim to improve product safety for consumers. Meanwhile, Etsy's adjustments and Instagram's new features present opportunities for growth and engagement.

If you’re feeling overwhelmed, remember that you’re not alone. Many handmade business owners are navigating these changes together. Take the time to realign your goals and strategies as we head into 2025.

For more insights and support, be sure to check out our resources and join our community. The world needs your creations, and together, we can thrive in the handmade business landscape.

Love Steph xox

🥳 Do you want to learn more? 🥳 

We’ve got loads of resources to help you scale your handmade business:

1️⃣ ✨Are you starting a new business? Here's my best resources:👉 Start here  🏃

2️⃣ ✨Want to be visible and get more traffic? Here's my recommendations: 👉Get seen👀

3️⃣ ✨Ready to grow your business? Here's your to-do list: 👉 Grow here 📈

👇🏻👇🏻 Choose your own adventure with these resources 👇🏻👇🏻

✨ My book “how to be a handmade boss” is like a super intensive course on getting your first sales (plus, it’s a book/workbook hybrid!) 👉  Find out more here

✨ The Shop Doctor - Shop not doing so great? Getting views but no sales? No views at all? Overwhelmed with it all? Check out the shop doctor: 👉 Join here

✨ My FREE masterclass on how to increase your Etsy conversion rate. It's the KEY thing most Etsy sellers miss when trying to make more money and get more sales in 7 days. 👉 Join here

✨ Chart-topping podcast it's an unfiltered and honest view about what it takes to grow a handmade business 🎧 Whether you’re a complete beginner on Etsy, or want to scale your handmade business to multi-6 figures, the “How To Be A Handmade Boss” podcast gives you actionable advice and workshop style episodes to grow your handmade business on Etsy, your own website and beyond  👉 Listen here

✨ Our Monday Momentum Lives You'll find me in my Facebook group most Mondays for coffee chats & mini workshops to help you make more money from your handmade business! You can see our upcoming events here: 👉 See future events here

✨Our YouTube channel is full of hundreds of super informative videos, with help and advice you can put into action straight away .📺

✨ More Blog Posts - Don't forget to check out more blog posts from Handmade Bosses 🖥️

✨  Instagram is where you need to be for top tips, and behind the scenes sneak peeks into how I run my 6 figure business 💙 Be sure to follow us for announcements of new videos, workshops, content and more.