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Hello everyone, recently I’ve been looking into Dropshipping and noticed that it’s actually a very promising market (although a bit late?!) But perhaps it’s better late than never 
. With my limited knowledge, I may take a while to fully dive into this field, so I’d like to start a thread to discuss with everyone (at least in our MMO4ME community). It will be a place for newbies to learn and for pros to provide guidance. I really hope everyone will join the discussion enthusiastically.
First, what is DROPSHIPPING??
As shown in the image, you can see that we are the middleman between the customer and the supplier. Our job is to promote the product well, gain as many customers as possible, and bring in orders for the suppliers:
So where does our profit come from???
The essence of Dropshipping is buying goods at a lower price as a partner and selling them at the market price. The difference is usually around 25-60% depending on the item and can be higher depending on the supplier.
I will summarize the Dropshipping process again with the following steps:
These are the basic concepts of Dropshipping. I look forward to everyone’s contributions, and I’ll continue to update in the next post.
. With my limited knowledge, I may take a while to fully dive into this field, so I’d like to start a thread to discuss with everyone (at least in our MMO4ME community). It will be a place for newbies to learn and for pros to provide guidance. I really hope everyone will join the discussion enthusiastically.First, what is DROPSHIPPING??
As shown in the image, you can see that we are the middleman between the customer and the supplier. Our job is to promote the product well, gain as many customers as possible, and bring in orders for the suppliers:
- We do not need to produce the goods (the supplier handles that).
- We do not need to store the goods in our warehouse (the supplier keeps the stock).
- We do not deliver the goods directly to the customer (the supplier takes care of shipping the products to the customers according to the orders we bring in).
So where does our profit come from???
The essence of Dropshipping is buying goods at a lower price as a partner and selling them at the market price. The difference is usually around 25-60% depending on the item and can be higher depending on the supplier.
I will summarize the Dropshipping process again with the following steps:
- Choose a product to Dropship, find a supplier, and negotiate the price, shipping method, and delivery time. (Suppliers can be found on platforms like Aliexpress, Taobao...)
- Decide on a sales channel and promote your product. There are many e-commerce platforms widely used by many people such as eBay, Amazon, Bonanza, Etsy, or even Lazada or Shopee. Or you can create your own webstore and sell through Facebook Ads, Google Ads...
- Customers come to you to buy the product and proceed to pay at the price you’ve set (market price).
- You send the order details to the supplier and pay them the affiliate price.
- The supplier packs and ships the goods. You receive tracking information and monitor the order, as well as provide customer support (if needed).
These are the basic concepts of Dropshipping. I look forward to everyone’s contributions, and I’ll continue to update in the next post.
