Due to the regulations and restrictions from the COVID pandemic, many more consumers have gone online for their purchasing needs. So much so, that in 2021 it’s estimated there’ll be more than 2 billion regular online shoppers! It’s an ideal time to capitalize on Ecommerce and set up your own business.
A model that’s popular with new ecommerce entrepreneurs is Dropshipping – whereby a store sells a product offered by a third-party supplier. Although it sounds that it operates the same as any online store, Dropshipping differs as the store never actually handles any of the inventory. Instead, when an order is placed on an item, the Dropshipper simply alerts their supplier who creates, packs, and sends to the customer.
It’s a less risky model for new stores as you don’t have to invest in lots of inventory to start. Rather, you find/see popular items on the market, source a supplier for them, create your online store, and advertise your items to relevant consumers. Items such as toys, clothing, and mobile phone accessories are prevalent items sold by Dropship businesses.
Its popularity is unsurprising due to its simple setup, but this simplicity also creates challenges. Competition is often high as popular items are often sold by a number of Dropshippers, and often marketing products correctly to interested audiences takes some work. Marketing costs can get out of control if not continuously monitored and optimized.
For more information on how to set up a Dropshipping Business, check out Website Builder Expert’s new infographic below about it:
Infographic Source: https://www.websitebuilderexpert.com/building-online-stores/start-a-dropshipping-business/