According to Statista– the predicted global market size for dropshipping e-commerce in 2020 was 128.6 billion US dollars?
The dropshipping market size was anticipated to increase to 476.1 billion US dollars over the six-year period between 2021 and 2026.
Dropshipping is one of the simplest ways to get started as an entrepreneur, whether one wants to do it full-time or in addition to other endeavors.
This is because one won’t have to worry about the two most expensive parts of running an ecommerce store: inventory and shipping.
It’s quite simple to establish a drop shipping business and it is not necessary to handle shipment or inventory.
Drop shipping is fine to go as long as they have an online store and a reliable provider.
What is Dropshipping?
Drop shipping is a business strategy where one hires vendors to deliver products directly to customers’ doorsteps.
There is no mess, no worry, and no need to manage numerous boxes and packages in the home’s garage.
Drop shipping is a new source of income, whether it be full-time or a weekend side gig, it can be highly attractive because one doesn’t have to stock or keep track of goods.
Drop shipping might not be suitable for everyone, though. Numerous variables could make or break the company and decide whether or not one will truly succeed in the dropshipping business.
What is the process of dropshipping?
Dropshipping is essentially a collaboration between a supplier and a business that serves clients.
There are two common approaches to implementing a dropshipping company strategy.
The first is to use a supplier database to independently look for one or more wholesale suppliers in Singapore. AliExpress, Oberlo, and Worldwide Brands are a few instances of well-known online supplier directories.
One can use an app like Dsers that connects them and their store to thousands of dropshipping suppliers if they are not interested in locating suppliers for all of the things they intend to offer.
These apps allow users to browse platforms like AliExpress and instantly import any items that catch their eye into the Shopify store by just clicking a button.
After a customer makes a purchase, one can complete the transaction through the app.
Dropshipping is frequently regarded as a simple, quick-money scheme. Yet it isn’t, to get the startups up and running and successful, it takes dedication just like any other e-commerce website.
Drop shipping companies in Singapore, when done correctly, can help expand e-commerce enterprises process orders and fulfill orders more quickly by becoming dependable and practical drop shipping partners.
Benefits of Dropshipping Websites to Skyrocket Revenue
Dropshipping can be a very profitable business model for online entrepreneurs who want to start an e-commerce business without the need for a large inventory or upfront investment.
Here are some of the benefits of drop shipping websites to help you skyrocket revenue:
1# Less initial investment is required.
The ability to start an ecommerce store without spending thousands of dollars on inventory is probably the most appealing aspect of dropshipping.
There is no longer a typical requirement for online stores to invest substantial sums of money in the acquisition of items.
When using the dropshipping business model, one need not buy a product until after the buyer has paid and the sale has been completed.
2# Simple to begin
When businesses don’t have to deal with real things, running an ecommerce business is significantly simpler. Dropshipping eliminates the following concerns:
- Taking care of or financing a warehouse
- assembling and sending off your orders
- handling incoming shipments and returns
- constantly arranging product orders and monitoring stock levels
3# Low operating costs
One of the biggest benefits of dropshipping is that it requires minimal upfront investment, making it an ideal choice for entrepreneurs who want to start an online business without a lot of capital.
The overhead costs are fairly low because one doesn’t have to bother with stock purchases or maintaining fulfillment centers with dropshipping.
In actuality, a laptop and a few regular expenses are typically all that are needed to run a successful dropshipping store from home.
These costs will probably rise as the company expands, but the dropshipping costs will still be inexpensive when compared to those of conventional brick-and-mortar firms.
4# Simpler to scale
In a traditional retail setting, if there are three times as many orders, there will often be three times as much labor to be done.
Dropshipping providers enable businesses to grow with fewer growing pains and less incremental effort because the suppliers handle the majority of the work required to fulfill more orders.
Even though more sales will always require more effort, particularly in the area of customer service, dropshipping businesses tend to scale more successfully than more conventional ecommerce ventures.
5# Wide product selection
Because there is no need to hold inventory, dropshippers can market a wide range of products on their platform without concerns of storage or shipping logistics.
This allows them to easily expand their product offerings and test new markets with minimal risk.
The Top 5 Website Builders for Dropshipping
1# Shopify
A website builder called Shopify was created to help drop shipping companies. More than 4 million online retailers, including a sizable number of dropshipping websites, are powered by the service.
2# Wix
Another top website builder for dropshipping is Wix. The service is popular with individuals looking for a straightforward, all-in-one website builder, with more than 200 million users in 190 countries.
It offers all the tools and features one needs to create a fantastic dropshipping website presence, whether one is a photographer, musician, small business owner, entrepreneur, wedding planner, or student.
3# Squarespace
Since 2004, Squarespace has operated as a website creation tool. A highly intuitive visual editor, an easy-to-use back end, and gorgeous design templates that look fantastic on both mobile and desktop displays are some of its primary selling points for drop shipping.
Squarespace layouts include a good bit of white space, which makes them perfect for tastefully showcasing a creative portfolio.
4# WooCommerce and WordPress
WooCommerce is a service that gives WordPress websites ecommerce features. WordPress has gained notoriety, popularity, and hordes of devoted followers thanks to its adaptability, ownership, and endless potential.
Dropshippers can use it to build their own web store, although it is best suited to professional bloggers. WooCommerce is a plugin that must be used to accomplish this.
Conclusion
Dropshipping might be the solution, regardless of whether the goal is to locate a side business, launch a new full-time company, or modify the business model of an existing online store.
If one wants to start an online business with dropshipping, one needs a domain and hosting, and Exabytes can help businesses with their hosting services, which start at S$2.14/month.
To setup your online store, contact us now.
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