If you have been thinking of or researching ways to increase your streams of income using the internet in 2020, then you may have come across the word “Dropshipping”. Many may have doubts about starting a dropshipping business in 2020 because they consider it obsolete and saturated, but I come bearing good news! But before the good news, you may ask what is dropshipping?
Dropshipping is an ecommerce business model where the retailer does not keep stock of the products sold in a store but rather fulfills orders by ordering directly from the supplier to the customer. So, the supplier sends the product ordered by the retailer directly to the consumer.
A year or few years ago may have been the best time to start dropshipping, but the other best time to start is now and here’s why;
Ecommerce has never been more popular : Everyday an increasingly large number of individuals turn to the internet to solve their problems and make life easier for them. People are increasingly buying products and services on the internet rather than in brick and mortar stores because of the convenience it offers them and the wide range of varieties to choose from.
Statistics have also shown a steady growth rate in ecommerce since 2014. If you really think about it, setting up an online business like dropshipping is totally worth your time.
Little Investment Required : For a business with high scalability margins, the initial investment for starting a dropshipping business in Nigeria is relatively affordable. With less than a 100,000 Naira, you can set up a business which can end up earning you thousands of dollars.
Flexibility: Starting a dropshipping business allows you have control over your time and the number of hours you decide to put in at work. With shorter work hours you can earn absolutely more than you normally would on a 9-5 job. flexibility also means that you can work from anywhere in the world as long as you have your internet connection, a computer or a smartphone available.
International Markets: One of the beautiful things about dropshipping is that you can choose to target and sell products to customers in other countries outside Nigeria. Although I personally believe that Nigeria itself is a great market because of its large population and lesser competition due to fewer dropshippers in the country, you can still increase your reach and profit potential by selling to countries with higher purchasing power in various parts of the world.
Easy to Setup and Start Selling: Setting up a dropshipping store is so easy. All you need is to choose your niche, setup a website, choose products to sell from your suppliers and start selling. You can setup and be in business in less than a week!
Faster/ Better Shipping Options: Thanks to the updated epacket shipping option available on Aliexpress which is the largest ecommerce supplier base, shipping to various countries have become faster. Previously it could take months to recieve a product from China, but now impatient customers can get their orders delivered in as early as 10 days or less. Plenty of suppliers also offer the Aliexpress free shipping option to its customers although this may take longer to arrive in Nigeria. Unfortunately, the faster epacket shipping option is not supported in Nigeria yet, but if you are selling to international markets that epacket is still good news for you.
Increasing Payment Gateways for Nigerians: A payment gateway enables an ecommerce retailer recieve payments made by customers and also make payments. Being able to recieve payments online on secure platforms like paypal has been a challenge for Nigerians previously. However, newer payment gateways like; Paystack, Dusupay and Stripe are making it easier for Nigerians to make money online in a secure platform. You can even use Paypal on your website if you follow the guidelines for opening a paypal account.
In conclusion, Ecommerce will continue to be a growing trend in the world of business. True experts will advice anyone to take the opportunity of going into ecommerce now. However, dropshipping just like any other business requires plenty of research, strategy, hardwork, diligence and commitment to become a success. If you are clueless on where to start your dropshipping journey then Alidropship will be the best bet for you. Alidropship provides an ecommerce platform that is highly affordable, easily customizable and all inclusive for newbie dropshippers just like you.
I hope this article has been able to answer your questions and inform you on the basics of dropshipping in Nigeria in 2020. Please leave any questions you may have in the comment section and I will try to answer them to the best of my abilities. All the best! on your dropshipping journey.