Probably you have heard the old factoid that a shark should keep on swimming or it will die. It’s the same for e-commerce merchants; in this choppy waters of online selling, more customers, more sales, and more income, are the targets and you aren’t moving forward, you make it easier for your rivals to overtake you fast!
If you’re new to online stores or simply haven’t been keeping up with the trends in the e-commerce industry, print-on-demand and dropshipping are the top services. Just like many other sales tactics, they have both benefits and drawbacks. However, the main reason most entrepreneurs opt to offer these services is that they make the process of setting up an online store and delivering excellent products to their customers seamless.
Print-on-demand and dropshipping allow you to be hands-off in the order fulfillment process. That means you have all the time you need to focus on promoting and running your e-commerce store. Dropshipping has been around for quite some time and combining it with the print-on-demand tactic offers you an edge.
Here is why…
Even though the product (a t-shirt, a tote bag, a mug, and more) is the same, the print makes what you offer unique. Therefore, you’re in less direct competition with other businesses supplying the same product. It’s creativity that helps a brand stand out. Here are other important things you should do to enhance the chances of success.
Research extensively to know what’s important for your business
Technology has made it easier for entrepreneurs to create an online store. There are varied e-commerce platforms, and thus, you should research extensively, compare different platforms, and choose one that suits your unique business requirements. Most online entrepreneurs opt for Shopify as it has plenty of apps that allow them to create a print-on-demand and dropshipping business easily. Besides, they can use the Printify app to print on demand on Shopify and make timely shipments to their clients.
It’s a tradeoff, is it worth your investment?
Print-on-demand and dropshipping services can make your e-commerce business life much easier. However, the tradeoff is that your profit won’t be higher than what you would earn if you were to stock and ship the products. Is this type of business still worth your time, effort, and money?
One good thing about print-on-demand and dropshipping is that you can free up a lot of storage, time, and you won’t have to handle wasted stock. You’re free to set your profit margins, but you will need to pay the supplier the negotiated rate. Unfortunately, the more you charge for your services, the more expensive the item. Therefore, to keep your existing customers and attract others, you must set reasonable rates.
Print-on-demand and dropshipping are a great e-commerce strategy. Probably it’s demanding when setting up the platform but the truth is that it allows entrepreneurs ship products to their clients in the comfort of their homes and still generate revenue.