As we are, moving towards 2023, a lot of new business owners might be thinking Is dropshipping in 2022 still profitable? Of course, yes. Dropshipping is a never-ending trend of e-commerce. It has spread all over from Shopify to Amazon and personal brands. If you want to know more about the current status of dropshipping and expectations from dropshipping in 2023 as a business owner than you should definitely read this blog further.
The state of dropshipping today
Since 2015 the market share of dropshipping has been increasing at a steady rate. This trend nowhere indicates that dropshipping is losing popularity. Even if we consider dropshipping as an interest than the Google trends indicate that it has been rising significantly over the past five years.
For new business owners who have just stepped into the e-commerce industry dropshipping is the best business model. It helps you earn a steady income with no hassle of inventory storage. This is particularly the main reason behind dropshipping never losing its charm.
According to a report published by Statista the worth of global dropshipping e-commerce market in 2020 was one hundred and twenty eight point six billion US dollars. According to a forecast this worth is expected to increase to four hundred and seventy-six billion US dollars in 2026.
Therefore, dropshipping was and dropshipping is a popular practice in the e-commerce industry and the trend has been and is still popular. The before mentioned statistics indicate that dropshipping’s state in the present year is stable and is also expected to remain profitable in the upcoming years.
How Dropshipping is Changing the Shopping Landscape
Before dropshipping people couldn’t even think of doing business without having warehouse and logistics services. The advent of this unique business model has made it possible to do business at the comfort of sitting on your couch. This is how dropshipping has brought a revolution in the whole landscape of e-commerce and online shopping.
Dropshipping has changed the shopping landscape for both business owners and vendors. Suppliers get the comfort of getting their inventory stored and orders delivered without taking any head ache. On the other hand, vendors get their supplies sold without doing any effort for marketing to customers they even haven’t approached themselves.
The major evolution brought by dropshipping in the e-commerce business model is it’s “ZERO INVENTORY PHILOSOPHY”. The fact how this business model is facilitated by top e-commerce platforms such as Shopify, WooCommerce, and Amazon testifies that it is extremely popular. Especially for new business owners it is an IDEAL business model because of extremely low probability or failure and least overhead costs involved.
Dropshipping acts as a bridge between the modern consumer needs and the traditional e-commerce business model. What else credibility you need for the success of dropshipping when you come to know that e-commerce giants like Amazon and eBay have also integrated dropshipping in their business models.
Before dropshipping product sourcing was a huge challenge for retailers. Now by partnering with supplier agents and third partly logistics business owners can source products without any hassle.
Sixty percent of consumers leave a brand because of poor customer service. In the dropshipping model the whole fulfillment process is performed by a third party. The third-party fulfillment services provider provides customized packaging and timely delivery of orders. It also handles returns and exchanges.
2023 and the future of Shopify dropshipping
The modern customer prioritizes convenience over price. If a customer has to pay more to get an order deliver quickly as compared to paying less for a late delivery obviously he will prefer paying more. Time is money and this is the main factor the e-commerce business owners are capitalizing on.
The advancements in digital technology and transaction models have made the online shopping experience more convenient. Especially after the pandemic when the shops got closed people’s interest in online shopping has increased at a tremendous level.
Shopify being the first name whenever you think of dropshipping has no doubt a very bright future in the year 2023. According to an estimate the dropshipping market will grow at the rate of twenty eight percent from 2019-25. This is a phenomenal growth rate which doesn’t seem to be slowing down.
Being a highly lucrative market, the expectation is that it will gain more attention of both business owners and suppliers in the coming year as well.
Keeping in view the demands of modern business owners Shopify has integrated friendly features such as:
- Integration of dropshipping apps
- User friendly interface
- Integration of various digital payment methods
- Integration of variety of sales channels such as Facebook ads and Instagram marketing.
- Low subscription costs etc.
Talk about working with a trusted agent like Shipbear
Now that you know that Shopify dropshipping has been running successfully for years and is expected to grow exponentially in the coming years as well what else you need to get started? You need a trusted agent like Shipbear that performs all the fulfillment activities from top to bottom.
Although there are variety of shopify dropshipping suppliers available in the market yet is difficult to find a reliable partner especially for new entrepreneurs. Shipbear has what new entrepreneurs don’t and that s EXPERIENCE of the industry.
If you already have dropshipping business owner or are planning to start one in the coming year that a trusted agent like Shipbear is all you need. Shipbear is the ULTIMATE DROPSHIPPING PARTNER that provides you TURNKEY DROPSHIPPING SOLUTIONS.
With absolutely NO HIDDEN COSTS Shipbear provides ALL IN ONE FULFILLMENT SERVICES which include the following:
- Getting the best quotes for product sourcing from the most reliable suppliers in the market
- Providing you Global Warehousing services through its network spread across US, CHINA and all over Europe.
- Fastest shipping with no hidden charges
- Product customization, packaging and branding services.
The trend of shopify dropshipping got hyped during and after the pandemic yet its craze doesn’t seem to fade out in the upcoming years either. If you want to go with the flow as well then you need a trustworthy dropshipping agent to partner with. Shipbear is an award-winning dropshipping services provides that will let you establish your own private label. Through competitive rates and top-notch services, you can focus on your business scalability and just rely on Shipbear. What are you waiting for get your quote now!