Dropshipping is the way forward. But what is it?
Dropshipping is an order fulfilment method that works on the basis of the seller becoming the ‘middleman’ whereby they only purchase products from a third party, as and when they are ordered, which are then delivered straight to their end customers.
It’s been around since the 2010’s, and has made a big name for itself since the pandemic due to a surge in online shopping and the UK’s well-developed infrastructure enabling dropshipping adoption to grow. Dropshipping’s market valuation is expected to rise to +$500 billion by 2025, and it’s no surprise why, with the biggest benefit of ‘no risk’ being a pretty attractive one. The dropshipping model is favoured by both retailers and consumers and surpasses the traditional standard retail model, taking the biggest benefit of no risk to the next level due to not having to hold inventory and stock.
Making passive income with minimal effort, loosely named a side-hustle, has become almost the norm. Although mostly a generational trend, and probably due to the global economy, having a side-hustle is growing in popularity as it offers an extra safety blanket of income and often requires little to no effort.
Dropshipping as a side-hustle is a no brainer. It has the potential to generate millions in passive (or side-hustling) income for businesses and people alike all over the world. Why? Because of its major and continuous popularity.
The dropshipping method has seen increased popularity and usage in recent times. Increased dropshipping is a result of increased eCommerce, a by-product of the ever-evolving digital world. It’s not news to say consumer shopping trends have shifted and now are predominantly online with a growing online demand. The other biggest shift in consumer trends is the demand to have it now. Not in three to six weeks, not even in a week. If they could… people would want things yesterday. Here lies the beauty of dropshipping. It’s quick. It’s quick because it’s not being sent to a business and then to the buyer or customer. It’s being sent direct to the customer. In 2015, Getir was founded but has only recently exploded onto the scene in the past two years, proving the demand is there for easy access to a technology that allows for products, whether it’s groceries or merchandise, to be sent quickly to them. This is why dropshipping, as a side-hustle or more, makes the most sense.
So why handle the stock when you don’t need to? Especially when your business doesn’t need to have a physical store to sell products and hold the inventory. Without the physical store and inventory risks, a business can benefit from low overheads and have the opportunity to provide a wider range of products to sell. Without the worry, cost and time wasted over shipping and logistics, dropshipping has allowed for businesses of all sizes to focus their resources elsewhere.
Dropshipping is the perfect side-hustle to any business, influencer, musician or person that is selling their own brand. The benefits speak for themselves as more and more businesses such as Merchr use the dropshipping model. Just think… how easy it is for your customer to order from your online store and get their product delivered straight to them. No product is paid for until ordered by your customer.
So why dropshipping as a side-hustle?
- It’s easy
- It’s profitable
- You are your own boss
So now you’re wondering how to start dropshipping to make your side-hustle? Easy. Make merch with Merchr and sign up today.
