Are you the owner of a successful dropshipping business? Or you looking to start one?
Whether you’re a well-seasoned seller or new to the venture, there’s one common issue that you will be growing increasingly aware of: storage.
As online shopping surges, and customer expectations rise, you need the facilities to store all the products that your audience demands. And with a shortage of warehouses across the UK, what is the solution?
One simple remedy is provided by companies like Western Industrial.
They supply mezzanine flooring for warehouses looking to expand their storage capabilities. Instead of expanding the physical building, think about maximising the space you already have by thinking about expanding upwards. An industrial mezzanine is usually free standing, can be removed or relocated and offers a great solution to storage problems.
Why the need for expansion?
The covid-19 crisis coined many new phrases that became part of our vocabulary: pandemic fatigue, “you’re on mute” at the staple introduction comment, unprecedented. Another phrase that was coined was the more positive, “lockdown entrepreneur”. Furloughs, cutbacks, and redundancies left many people without a job and for quite few, the necessity to make money from home sparked genius. One successful dropshipping businessman encouraged others considering the same path: “Never give up… it can happen overnight and change your life.”
With success stories like these, the rise of the self -made businesspeople began. And there was definitely the market to meet the increase.
One study found that in the early days of the crisis, online sales for stores that had an online presence shot up by 52%. Across the globe, and in the UK particularly, consumers gratefully embraced online shopping as way to fight boredom and frustration. Those who kept their jobs found they enjoyed the drop in expenses too which gave them more disposable income to spend on the necessities, and unessential items, that would help them get through the endless days of lockdown. This trend has become a habit, and figures for online shopping continue to remain high. If you’re a dropshipper, or looking to become one, this is good news for you!
Of course, the pandemic also brought some struggles for the industry too. The competition is tough and breaks in the supply chain, due to restrictions and staff shortages, eventually have a knock-on effect on dropshipping businesses. There are various strategies available to help you navigate these uncertain times:
- Embrace technology that will help you.
There are various technological tools that will help you to retain customers, and just a 5% increase in customer retention gives you a profit boost of up to 95%! It’s worth the effort when retaining your customers brings so much more into your business.
- Invest in marking and advertising.
The competition is heating up, so you need to invest in advertising that will make you stand out from the crowd. It might be tempting to continue running the business on a zero budget, but the more you put into marketing, the more you will get out of it. You don’t have to spend a fortune and some companies even provide grants to help get you started.
- Stay on trend.
Keep on the lookout for new products and suppliers. If your current source is experiencing serious delays, look elsewhere. Do some research and find a supplier that will give you the best quality for your money.
The pandemic killed off a lot of industries, but dropshipping isn’t one of them. The market is only expected to grow, so it you’re ready to learn, adapt and progress as a dropshipping entrepreneur, you’re going to thrive, not just survive, as a business in this post-pandemic world.
