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Since the past year has encouraged all of us to spend more time indoors, generating income online from the comforts of our homes is now more popular than ever.
Millions of people are now living what once seemed like a distant fantasy. In the last few years, those of us who worked from home have had less explaining to do at the family events-the road to earning a meaningful income online has become a lot clearer.
Internet marketing isn’t just an online business channel. It’s a community hub, a marketing channel, and a sales channel all rolled into one. There are many creative ways to make money online outside of online surveys and selling used items on Craigslist.
In this guide, we’ll discuss some of the strengths and shortcomings of one of the best options for making money online.
Dropshipping
The rise of e-commerce was one such trend that experienced decades’ worth of acceleration last year. There are several ways to run an e-commerce business, some of which don’t require lots of inventory to be carried.
The Dropshipping business model means that you do not keep stocks of the products you sell. In contrast, when someone purchases something from your store, a third party fulfills and ships the order for you. Because startup costs are low, it’s an increasingly popular way to make money online for beginners and pros alike.
It is common for dropshippers to chase the latest trends. In addition to catching a trending product wave, there are also many categories of products that are steady and offer similar opportunities.
Check out our top performers in these categories regularly:
- Women’s clothing and accessories – The most popular category of Oberlo products is women’s clothing and accessories, which includes dresses, accessories, intimates, hoodies, socks, and hoseries, as well as rompers. Since these products have a big market, are bought frequently, and are successful at being sold through good marketing, they are consistently good performers for dropshipping.
- Jewelry- Dropshipping is a good business model for jewelry if you wish to turn it into a profitable business. You can sell fine jewelry, fashion jewelry, costume jewelry, and collectibles. Or you can sell jewelry made from stones, woods, textiles, or metals.
- Home and garden- Dropshipping the home and garden niche seems to always be trendy at the moment. People are always looking for new and unique ways to make their home feel cozy and warm, which makes it a desirable (and profitable) niche.
- Beauty Products- According to estimates, the beauty and personal care market will be worth $511.4 billion by the end of 2021. The beauty sector is thriving with younger generations entering the market and is strengthened by social media and e-commerce. You can also sell cosmetics, skincare, personal care, hair care, fragrances, and more in the beauty niche.
OK, sounds good! Although dropshipping is easy to start, there is a significant hurdle to overcome: you are selling an existing product. As a result, dropshipping businesses depend heavily on customer service. If you do that, you’re giving up a really valuable piece of leverage and need to understand that, to succeed, you need to outcompete your competitors with a well-chosen niche and creative marketing.
A project in action
Tze Hing Chan, a Malaysian entrepreneur, founded Subtle Asian Treats as a dropshipping company that specializes in cute plushies and cases for AirPods and iPhones.
In a recent interview with Oberlo, Tze explains, “I knew that the bubble tea trend was up and coming, especially in Asian communities, so I looked around for bubble tea stuff on AliExpress. I found phone cases, and that was my very first product.”
During his search for the perfect product, Tze tried several dropshipping companies – some earned him profits, while others flopped. Once he found the bubble tea plushie, though, his dream store finally came true. When he saw them, he imported them into his Shopify store and began running Facebook ads, getting customers all day long.
