Successful Tips for Launching Your ‘No Inventory’ Supplement Business With Dropshipping
According to a recent report provided by the U.S. Department of Commerce, e-commerce sales in 2020 grew more than 30% from 2019. The reasoning behind this spike in online retail usage is primarily due to the COVID-19 pandemic lockdowns that required many shoppers to rely on the internet for their shopping needs. Considering the pandemic is still looming and technology is becoming more advanced, the online buying trend is here to stay. The global dropshipping market size is expected to reach USD 557.9 billion by 2025, registering a CAGR of 28.8% over the forecast period. Since the market is anticipated to see continuous growth, there is a rise in demand for dropshipping services, especially in the supplement industry.
A Comprehensive Guide to Dropshipping Supplements
What Exactly is Dropshipping?
Dropshipping offers retailers a unique opportunity to sell products online without keeping an inventory of goods. Using a dropshipping platform such as HoneyComm allows you to brand and market your consumable products like Supplements, Pet, Skin Care, Sports Nutrition with fully customized labels without investing in inventory upfront.
So, what does that mean for your company? HoneyComm alleviates the need for pre-buying labels, stocking inventory, minimum orders, and design limitations. You can also upload any previously created design to HoneyComm, and we’ll drop ship it with your first customer order.
What Are The Benefits?
There are a few important dropshipping benefits to consider when developing your business model.
The primary advantage of using a private label with a dropship program essentially comes down to sales and profit. The production of your supplement costs less, therefore maximizing your company’s profit margin. From there, you can focus on increasing awareness of your brand and, in turn, growing your company’s outreach.
From a creative perspective, HoneyComm’s dropshipping fulfillment process gives you more control over the product quality attached to your brand. This ensures that you have the oversight and knowledge to market and sell the highest quality product for a minor financial investment.
Dropshipping allows business owners a greater sense of flexibility. With HoneyComm, you won’t have to be present for the storage and shipping process; it will already be done for you! This means that you will have the ability to travel and manage your time to work best for your business and personal lifestyle.
Are There Pitfalls to Dropshipping?
As long as you choose an efficient and capable manufacturer with high-quality products, dropshipping eliminates the uncertainty that comes with stocking and shipping your product. In saying this, carefully select your manufacturing partner. Research, contact, and compare companies that fit your niche, audience, and unique brand.
When you partner with a professional company like HoneyComm that utilizes drop shipping, your worries during the process should be significantly lower. Since they offer on-demand fulfillment that requires you to stock zero inventory upfront, you will be able to sell a product and then have it quickly produced and labeled. This saves your business time and money that can be spent for marketing purposes.
Here’s How to Choose The Right Manufacturer.
The key to the success of your supplement business greatly depends on the efficiency of your dropship partner. Since you are handing over a majority of the responsibility, both financially and legally, to a third-party service, you want to be sure that you can trust them. There are three questions you want to ask yourself when choosing to partner up with a manufacturer:
- Does Your Manufacturer Fit Your Brand’s Unique Style and Needs?
- Is Your Manufacturer Helpful and Trustworthy?
- Does Your Manufacturer Consistently Deliver Your Products Safely and Quickly?
With HoneyComm, the answer is YES!
U.S. E-commerce sales are significantly growing and will continue to grow over the next decade. Since shoppers are relying on online retailers more than ever, it’s essential to create a trustworthy and highly marketable brand. Partnering with a platform that removes the guesswork out of manufacturing and shipping will prove to be a crucial asset to your supplement company. The rise in demand for dropshipping creates a pathway to success for a savvy new brand opportunity. With low up-front costs and FDA regulations being taken care of by HoneyComm, you will be able to spend most of your time marketing and selling your products.