With more than 2 billion online consumers in 2021, there’s no better time to start an ecommerce business. Many can be done from home, and outside of normal work times such as evenings and weekends. There’s also a ton of information online to guide you through each step – but what type of online business is the least risky to try?
This is where Dropshipping comes in.
What is Dropshipping? It’s a business model where a vender can set up a store, usually either a website or through a marketplace such as Amazon, to sell particular items to shoppers without handling or storing any of it. The way it works is when a customer buys a product through your store, you alert your set up supplier of the product, and they pack and ship it to the customer – simple!
Due to its simple model, Dropshipping has proven to be popular with not just entrepreneurs but also online retailers – 27% of them have shifted to Dropshipping as the primary order fulfilment method!
While it’s proven successful for many, be wary of the downsides that come with such as simple operation. These include products that are over-sold, congested marketplaces of similar stores (as well as congested marketing channels), and inventory problems from unreliable suppliers. Take these into consideration when choosing what type of product to sell and where you’d like to sell it.
For more information about Dropshipping and how to set up your own store, check out the infographic from Website Builder Expert on the subject: