Is Dropshipping Worth It in 2023?

As the pandemic-powered ecommerce boom has slowed and consumers have partially returned to brick-and-mortar shops, making money online isn’t such a hot topic anymore. But we’re here to tell you that dropshipping is’t dead, and the data supports it. ??

?? Growth rate and projections

The dropshipping market share has been growing at a steady rate since 2015, and it’s nowhere near slowing down. A report from Grand View Research indicates that by 2025, the dropshipping market will reach $557.9B. ??

In fact, the world of ecommerce has been flourishing for years now, with transaction value reaching $5.4 trillion in 2022. Digital commerce is projected to grow even more and to reach an astounding transaction value of $8.98 trillion by 2027.

But it’s not just about market growth. There’s also continued interest from online users on the topic. Based on Google Trends data, the general trend for the word “dropshipping” is upward. Meaning, consumers are consistently searching for the term, most likely to learn more about it.

?? Advantages of the dropshipping model

1?? You don’t need to spend money on inventory until the customer places an order 

2?? You won’t get stuck with unsold items because orders are handled on demand by your supplier

3?? Operational costs are low since you’re relying on a third-party supplier who handles the logistics

4?? You can easily integrate your dropshipping service with popular ecommerce platforms (depending on the supplier you use) 

5?? You can choose from a variety of unique white-label products that are customizable (depending on the supplier you use)

6?? The only thing you have to focus on is the interesting bits of your business, like marketing, creating designs, and building your brand 

?? Possible downsides to dropshipping

Even though the market is thriving and consumer interest is there, dropshippers still face certain challenges. 

Is there too much competition?

• Data shows that the ecommerce market is continuously growing, so more and more retailers will be needed to meet that demand. But there’s still the matter of standing out from the competition. All you need is to choose the right niche for your business and then do some solid research. Learn about the best products in your niche and a potential audience for those products, but also your competitors. 

Are all the best niches already taken?

• New niches are emerging every day due to changes in demand. In the online universe, innovative ideas are always cropping up, and anything can create the latest product niche—new social media trends, a TikTok video, or an influencer talking about something cool. If you spot a movement happening online, jump on it, and be one of the first to offer new, relevant products. 

How can you make good product choices?

• The most important part is simply thinking about your customers: what do they need, what is valuable to them, and how can you make their lives easier? Don’t focus on the sales as much as keeping your customers happy. That’s how you create a long-lasting relationship and a great brand name. 

?? Is Printful right for your dropshipping business?

At Printful, we offer a range of dropshipping products and services, as well as online store setup services, photo, video, and design services, and even customer support for your clients. Our products are 100% white-label and customizable, and we offer a wide variety to choose from. 

Plus, our integrations work with all the most popular online stores, including Shopify, Etsy, WooCommerce, PrestaShop, BigCommerce, and many more. We’ll guide you step by step through the setup process, and give you all the tools and information you need to be successful.

Now, simply go ahead and get started! The best time for dropshipping businesses is still ahead of us, so don’t waste a minute ?? get started now!