Do you have physical inventory with your e-shop and are looking for ways to grow your sales without investing too much money in any new ideas? Dropshipping is a trading model you must consider implementing in your business strategy to boost your online store’s statistics. If you have doubts about mixing two models, we hope by reading our article you can find all answers to your questions, and you will be ready to take the next step in growing.
Entrepreneurs with existing inventory are often afraid of dropshipping. It is unclear for them how it can be lucrative, and how to manage everything to meet all laws and legal requirements. Having products in stock can happen in two ways. The seller can produce their own goods, or they can have supplier partners from who they order products in large quantities. Dropshipping is a beneficial way for them to have a greater selection without any inventory risk.
Boost Your Online Store’s Sales: Why Dropshipping?
Having an online store with physical inventory has many advantages. You know exactly what you sell, you can make sure the parcels arrive in your own style with the goods that were requested, right in time and safely. However, it costs you a lot of money to stock goods.
Why not extend your business strategy with dropshipping to be able to boost your online store’s sales easily? Let’s highlight the advantages of mixing classical trading with the dropshipping model.
#1 No Investment in Physical Inventory
Dropshipping is a trading model that doesn’t require the business owner to invest money in physical stock, and no extra inventory warehouse will be needed. They can save that money and spend it on something more important: marketing. It is not enough to have good products, you need to know how to sell them effectively. Boost your online store with dropshipping products and let your business grow.
#2 Grow Your Product Range Easily
To be able to boost your online store’s numbers, reach more customers, and increase the average order value thus your total income dropshipping comes in handy. Without the fear of burning money in physical stock for nothing, you can broaden your product range with any chosen products. On Syncee Marketplace you can find millions of products from hundreds of reliable suppliers from all over the world. With the help of the application, you can easily add the products to your store, and let the system automatically update the changing data day-by-day in your store.
#3 Change Your Product Portfolio In No Time
You can keep your online store’s selection up-to-date as the seasons are changing. You don’t have to be afraid that you spend money on inventory but won’t be able to sell everything you store in your warehouse or garage. It is easy to start selling new kinds of products, and you can see whether they are indeed worth selling. If you think it is not something your audience is really interested in, you can change the selection anytime, and it doesn’t cost anything for you. Moreover, you can focus on Summer or Winter products only in its seasons without remaining inventory. It is a great way to boost your online store’s sales.
#4 Simply Implement Upsell and Cross-sell Strategy
You can boost your online store’s product selection easily with products you think your audience demands. You can start considering upsell and cross-sell strategies to have more products to offer in your store. Like this, more people will possibly find you, and there is a higher chance that they add items to their cart. People prefer getting everything from one place that is why cross-sell strategy is your best friend here. Find products on Syncee Marketplace to extend your product portfolio.
#5 Sell What Your Audience Really Demands
We already know that customers prefer when they can buy every product they need from one place. It is one of their needs. You can help them with this while also focusing to boost your online store’s sales. Moreover, you can “test products” to see if your audience indeed likes them. You can easily upload new items to your store, and you don’t have to be afraid of products customers didn’t really need standing in the corner of your warehouse for years. You can change your selection anytime with dropshipping.
#6 More Potential Partners: Consider Well Who You Pick
When it comes to dropshipping to boost your online store’s sales and product selection, there are so many suppliers you can pick from to partner with. The suppliers can be anywhere in the world, but it is more beneficial if they are at your location. You can choose partners from directories as well, so it is very easy to find them. When deciding on whose products to sell, make sure you checked every important detail of the company thoroughly, and that you know what you have to consider through the process.
#7 Constant Low Risk
You do not have to be afraid of trying something new. It doesn’t cost you much money to try out new products, to try a new strategy in order to boost your online store’s sales. Low risk is guaranteed in the long run. Pick well who you partner with, pick companies who look reliable and you can partner with, in the long run.
#8 More Focus on Marketing and Your Store
You can have a convenient focus on your marketing activities and also on making your online store be more fascinating. Marketing is one of the most important elements of being able to boost your online store’s sales. And your store’s look is the cover of your book. If you do not have to deal with logistics in dropshipping, you have more time on things that are important.
#9 Reach a Wider Customer Base
If you boost your online store with dropshipping products, so your product assortment is larger than before, you can reach a wider customer base. More people will find you on the internet, and more people will find the products they are looking for in your store. Like this, your sales and the number of your long-term fans will be higher.
Decide on the Methods of Logistics
With dropshipping you can upgrade the image and identity of your brand and can finetune your conversion rates, you can boost your online store’s sales easily. When deciding on who to partner with, you also have to choose a method regarding logistics and trading models.
A) Work With One Dropshipping Supplier Only:
You can decide on saying goodbye to how you worked until this time, and choose a dropshipping partner rather than storing goods in your warehouse or garage. The advantage of this is that you will not have troubles with finetuning shipping times of more suppliers and your own as well for your store’s settings, and there will be only one shipping fee to deal with. You will not have tasks regarding packaging, courier services, warehouse fee.
B) Products From Different Sources, Completely Different Categories:
Do you have your own physical inventory, and want to boost your online store’s selection with other suppliers’ goods? Customers usually pick not just one but more products to buy from an online store. If in an order there is an item from your own warehouse, and one from a dropshipping supplier, there will be double shipping fees to deal with. You need to create a general shipping fee on your website that won’t make the deal be unprofitable for you. Play with the fees and product prices to make everything work best for your business.
If you still want to work with more suppliers you just have to make sure the goods you have a physical inventory of, and the goods that come from other suppliers are in completely different categories. Like this probably it won’t happen that a customer will place those two categories of products in their cart thus there won’t be any difficulties with products arriving on different days, and with double shipping fees.
C) Products to Arrive at Your Place First:
If you work with more dropshipping suppliers, ask for the goods to arrive at your place first. Like this the goods can wait for each other, you can put your own products and for dropshipping suppliers’ products in the same parcel if needed. Like this you will have to deal with more shipping fees as first the goods arrive at your place and you need to send them to customers. You will have to finetune your shipping settings.
Where to Find Reliable Dropshipping Suppliers?
On Syncee Marketplace you can find millions of products from hundreds of reliable, pre-vetted dropshipping suppliers from all over the world. If you are looking for high-profit goods to boost your online store’s product selection with, it worth trying our global B2B platform out. Syncee will take care of the automated, daily product data synchronization, and the order data flow. You can use it with your Shopify, WooCommerce, Wix, BigCommerce, Ecwid by Lightspeed, Jumpseller, Shoprenter, and Tiendas KMO store.