After so much talks on ETSY forums about renewing I though I give it a go. So from beginning of October I started to either renew an item a day or list a new item a day. It has been 20 days and I can see clearly that my views are much higher and so are the sales. Ok - I joined UK Silly sale this month, which has probably helped. I am going to carry on until the end of the month and see if I do November as well. My bill is a little bit higher than usual but it seems that it works and they always say that you should invest a bit into your business to see some return.
I will do an update for you at the beginning of November.