Dropshipping News Weekly Update Vol 21.
This week we prepared five dropshipping news for you to catch up with.
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1. Shopify launches an ERP program to help merchants simplify e-commerce platform management.
E-commerce company Shopify has launched its Shopify Global ERP program, which allows selected enterprise resource planning (ERP) partners to integrate directly into the Shopify app store, according to foreign media reports.
By installing applications certified and accredited by the Global ERP Program, merchants can ensure that proprietary data will flow seamlessly and securely directly between their Shopify backend and their ERP, without the need to connect with a third party, Shopify officials said. In addition, businesses will also be able to save time and money. By integrating directly with a certified ERP partner, merchants can avoid the time and money spent implementing administrative customization.
2. Are gift cards a holiday rescue in Europe and the US due to the supply chain crisis?
Faced with severe shortages, retailers are considering gift cards as an alternative to holiday gifts.
Because of the supply chain, some large companies choose to charter ships to ship goods or start promotional campaigns early, but for most companies, such methods are too costly to be feasible.
The National Retail Federation says gift cards have been the most popular gift for nearly 15 years. Gift cards have become even more important this holiday season because of shipping delays and labor shortages, according to industry associations and service providers. As part of the solution, retailers are increasingly looking at offering gift cards on their websites, as well as personalized services to replace out-of-stock gifts.
3. US holiday spending survey out, 75% of consumers worried about out of stock.
Auditing giant Deloitte released its 2021 Survey of American holiday spending.
Based on a survey of 4,315 consumers and 30 retail executives, Mr. Delle predicts average holiday spending will rise 5 percent from last year to $1,463. On average, gifts are expected to cost $501, non-gifts $426, and experiences $536. When it comes to categories, apparel and accessories topped the list at $304. It was followed by electronics and gift cards, food and beverage, home kitchens, toys, health and pet products.
The shortage of stock has aroused public concern this year. This year, 75 percent of consumers are worried about shortages, particularly of electronics and toys, Mr. Deller said. Mr. Deller points to a shortage of chips to make electronics as the reason behind low inventory levels. Second, supply chain interference factors, such as transport problems or weather problems.
4. TikTok’s American shopping cart is coming!
TikTok Shopping’s Shopping cart feature, which TikTok partnered with Shopify to launch in the US, is finally coming to the market, according to sources.
TikTok first announced its partnership with Shopify in October 2020, and the two platforms announced a further step forward in August, testing new features in select Shopify merchants in the US, UK, and Canada.
To apply for the shopping cart in the US, merchants need to open a TikTok AD account first, and then apply for the US advertising qualification. Merchants need to provide relevant information such as business license and Shopify independent website account when applying for qualification. Currently, other self-built website platforms are not supported.
Merchants will be able to attach a front-end TikTok account to Shopify’s back end once they pass the verification process. When linked, the TikTok account will feature a short video trailer and a window display.
5. The out-of-stock rate in the US increased 172% year on year! The clothing category is the most out of stock.
The out-of-stock rate in the US increased 172% year on year! The clothing category is the most out of stock.
According to new data from Adobe Analytics, out-of-stock messages on the Internet are expected to increase 172 percent this holiday season compared to 2020, and 360 percent on a two-year basis. Adobe said it expected the highest levels of shortages in the clothing category, followed by sporting goods, baby products, and electronics.
Despite the supply difficulties, consumer demand is expected to remain strong in the New Year. Online sales are surging even as more people return to shopping malls.
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𝐃𝐫𝐨𝐩𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐈𝐬 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞…. 𝐃𝐨 𝐓𝐡𝐢𝐬 𝐓𝐨 𝐁𝐞 𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥.
Most people fail with their dropshipping store because they are not unique.
There are so many people starting with dropshipping right now, it’s no longer the secret way of making money online but has become very mainstream.
Everyone wants a piece of it because so many of these “gurus” advertised it as an easy way to earn money online.
But do you know what the sad thing is?
Most of them don’t put any effort into their dropshipping store.
They open their store, import some products without changing anything, and start advertising.
This means that a lot of people that are dropshipping are selling the same products with the same information they got from maybe even the same dropshipping suppliers.
Of course, having the same product is not a bad thing yet, but to also have the same images, descriptions, and so on will definitely not help you!
So you might be asking yourself “HOW DO I SUCCEED WITH DROPSHIPPING THEN”
Here are a few tips to help you out:
𝟏 - 𝐁𝐞 𝐔𝐧𝐢𝐪𝐮𝐞
Don’t try to copy everything to save some time! I see people literally copy and paste descriptions from aliexpress suppliers, take content from other stores and copy/paste it on their store and then wonder why they are not getting sales.
It’s because you are stealing content from other unsuccessful stores, you need to be unique and different and make everything on your store specific to your brand and at the same time personalise it to your customers and buyer persona.
Some key areas to focus on and unique at with your store are:
Product Images - Product Descriptions - Site Design - Brand Persona etc
𝟐 - 𝐒𝐨𝐜𝐢𝐚𝐥 𝐏𝐫𝐨𝐨𝐟
Here’s a sales secret for you, people always buy what others are buying and what that shows us is people look at other customers' opinions and experience before deciding if they should buy your product or not.
In order to win here, you need to have product reviews and ratings.
A study found that 88% of consumers trust online reviews as much as personal recommendations, and 72% of consumers say positive reviews make them trust businesses more.
Millennials, in particular, trust user-generated content 50% more than other media.
This should be enough reason for you to understand how important reviews are and if you want to build a successful store, you need to have reviews.
𝟑 - 𝐈𝐦𝐩𝐫𝐨𝐯𝐢𝐬𝐞 & 𝐒𝐭𝐚𝐧𝐝 𝐎𝐮𝐭
Look at what your competition is doing, what is working for other people, what other stores lack and then improve your store based on your findings.
This is an easy way to dominate any market and in relation to a dropshipping store, here are a few examples of what I mean:
- If your competitor doesn’t offer PayPal for checking out, then offer PayPal.
- If your competitor doesn’t have trust badges, then add trust badges.
- If your competitor doesn’t have the basic pages like a refund policy, then add those pages (note: you should always have these pages).
And there are many more examples!
I hope you get my point.
Those were 3 of many tips on how to succeed with dropshipping despite it becoming more and more competitive.
Hope this helps you, if you have any questions leave them in the comments below and i’d be happy to answer them.
Wish you all the best.
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