Dropshipping is a solid business model to follow in 2020. When it comes to dropshipping, Shopify is the best ecommerce platform. Interestingly, you can get inspiration from the top shopify dropshipping stores, which will motivate you and help you to take your online store to the next level.
Dropshipping tools, such as Alidropship or SaleSource are a must-have if you want to take your online business to the next level.
Dropshipping is the business of marketing products that do not belong to you on your own website, but you make a profit when people order from your online store and the manufacturer ships it to the customer.
With dropshipping, you only display and promote the products but do not stock or keep an inventory of them; the customer buys from your store and the manufacturer ships it out to the customer while you handle the payment aspect.
Some dropshipping websites you may be aware of include Amazon, Alibaba, AliExpress, Sears, Zappos and then Konga and Jumia in Nigeria. Although you buy directly from these eCommerce stores, they do not keep an inventory of the products because of the warehousing costs – except in occasional cases.
Once you click on a product to buy from these stores, the stores handle the payment but it is the manufacturer that actually fulfills the order by shipping it directly to you.
What dropshipping websites do is only to display the products and promote it to potential customers. But the original manufacturers handle the shipping after an order is placed on the dropshipping website.
The buyer does not have to know that it is a dropshipping website and does not have to know that it is shipped directly from the manufacturer; what matters to the buyer is getting delivery of the perfect product within the estimated time communicated to him.
To set up your own dropping business or start an eCommerce store like Jumia or Konga or Amazon in 2020, you need to first conduct extensive research into products that are selling like hotcakes.
In Nigeria, electronics and mobile phones move fast, but in Western countries, products such as clothing, baby toys, and household utilities sell well. The point is to research what is selling fast globally since people from all over the world will be able to visit your website to check out your product offerings.
It is best to go for niche products since the market is not saturated with them even though their demands are high. Listing these products on your website will ensure that you make a steady commission from sales after you do the necessary promotion.
It is best to get a professional eCommerce expert to set up your website or get a turnkey solution from vendors such as Alidropship who would provide you with a readymade eCommerce store optimized to make money for you.
You must also be sure to promote products from trusted and reliable third-party sellers so that they will not fail to deliver after a customer has placed an order and made payment for goods.
There are hundreds of scammers online, but you must only go for legitimate third-party sellers that have a proven record of fulfilling orders and producing quality products.
You must understand that the difference between the original selling price and your own stated price is your profit when customers buy from you. For instance, if the manufacturer’s price for a mug is $3.00, you can list it on your eCommerce store for $4.99 with or without shipping costs. The more you are able to promote your store on social media and through emails, the more sales you will funnel into your bank account.