I have sold a few knitted items on Etsy; however, it's a hard way to go. Etsy has so many sellers at this point you get lost especially if you are a new seller.
Etsy does no promoting on their own. They expect you to do all the advertising and promoting for them. Then when you spend all that time advertising and promoting and finally make a sale Etsy recommends other shops that the buyer might be interested in. Hey, I'm the one who did the advertising, I made the sale but they are recommending other shops for that buyer to go to - not fair in my opinion.
I keep my shop open only because it is so cheap. However, I have stopped putting Etsy on my business cards and put only my own personal website on my business cards.