Dropshipping is totally profitable in 2023. The biggest factor to ones success however is the supplier that is used. Many started dropshipping with Aliexpress. There cheap pricing is enticing, but their slow delivery times may run you out of business before you even start. The important thing to do before you start is to make sure your supplier is reliable for your customers or you might see way more disputes than you would like. How many products should you sell? This is another important question. You want to make sure your profit margin gains you $10+ in profit or it is not really worth the hassle. Sell 1000 products per month at this margin and that’s gaining you $10,000 a month in revenue. Be sure to keep up on trending products and make sure what you are selling is searched on google by a ton of users. You do not want to sell a product only 5 people look at a month.
What Are Some Major Issues Dropshippers Face?
- Shipping delays
- Product damage
- Wrong orders received
- Refunds and returns
All in all dropshipping is far from dead, but due to oversaturation in the market it may be hard to get off the ground and will take some time with scaling and patience.