Dropshipping is an ecommerce model that allows retailers to sell products without holding inventory. When a customer places an order, the retailer purchases the item from a supplier who ships it directly to the customer. This approach reduces operational costs and risks, making it appealing for new entrepreneurs. Dropshipping generates over $300 billion in annual sales, allowing individuals to focus on marketing and customer service while suppliers handle logistics.
To start a dropshipping business, one must choose a niche, research reliable suppliers, and build an online store using platforms like Shopify or WooCommerce. Marketing is crucial, with effective strategies including SEO, social media engagement, and email marketing. Popular niches include health and wellness, fashion, home goods, and tech gadgets. By leveraging the right tools and maintaining consistency in marketing efforts, aspiring entrepreneurs can successfully navigate the dropshipping landscape and create a profitable online business.