A Guide to Dropshipping
Recently, I had been getting similar question about dropshipping
- What is DropShipping?
- Is drop-shipping profitable?
- What is the winning strategy of Dropshipping?
- How to pick products?
- Is there any dropshipping in India
So, before getting towards money making, let go explore What Dropshipping in India is.
Dropshipping in India: Many of Virtual Entrepreneurs have a cloudy thought about Dropshipping. In this business, you only need is a responsive website.
Yeah, that is all that’s needed and I’m not on hallucinogen.
Everybody has a website these days, what unique you may ask. The thing about Dropshipping you don’t own a single product. It’s your own Amazon or Flipkart Website Without investing as the giants. But there is a catch. When Planning to do dropshipping in India you need to understand the market Demand Curve.
Selecting the right products and targeting the right audience plays an important role Because not all products meet profit margin.
But Don’t panic, Here i will explain to you from scratch to money making website.
Firstly we have to start a Ecommerce website.
It will be pretty hard for you to reach out to an established firm and get their products listed on your platform. Most established manufacturers will have a set of dedicated wholesalers. Adding an additional channel which most likely place orders in minuscule quantities (when compared to other channels) may sound a bit resistive.
Not to burden yourself. You can reach out to a lot of other small scale industries and startup companies that are ready to any opportunity that gives them a sale.
Consider this. An offline store will be happy to place a bulk order from a well know brand. For eg; A brick and mortar business model will be happy to place a bulk order on Dell laptops. The brand is well known to people and the store owner is pretty sure that the brand value will drive sales and the inventory will keep moving.
On the contrary, a business owner will be a bit reserved to place a bulk order for a product manufactured by a startup company. If he places an order of 10 pieces that means he needs to display those pieces in the store and manage the inventory. The chance for a sale seems to be pretty low. So, If you could reach out to this startup company and say, hey allow me to feature your products on my platform. I startup entrepreneur will be happy to do a drop-shipping for you.
Difference between Traditional E commerce and Dropshipping
In the internet era which promises omnipresent connectivity, we expect our needs to be delivered at our doorsteps. If you differ from what I believe then the below stats may be able to convince you.
Stats published on the Indian Brand Equity Foundation clearly shows increasing demand in the online eCommerce business. In 2020 the eCommerce market in India is expected to reach US$ 64 billion and by 2034 the eCommerce market is expected to outgrow the US market and become the second largest eCommerce industry in the world.
How many of us have placed an order form amazon? Let me rephrase it, How many of us scavenge the online market place “Amazon” in search of a unique deal. How often do does our impulse drive us to buy from these platforms. Online business as digital marketing has revolution ed the way how retail business used to operate.
Okay, These looks like a too good to be true, how profitable is it?
My answer would be Definitely, firstly there will be no middle men, if you have a buyer find the seller and get the goods delivered that’s it, you will have the margin between wholesale and retail price. You don’t need to pre purchase any product and maintain warehouse for storing them thus you can offer a wide range of product selection reducing the risk to a large extent.
his time period has witnessed quite a lot of technological abrupt’s. Technology has made everything simper. A customer centric structure is designed to give the end user a personalised experience.
People are looking for instant gratification. No-body want’s to wait to days to get a product delivered at their house. People love to enter into commercial transaction with entities that are ready to meet their demands. Dropshipping is profitable when you do it he right way.