Are Shopify Stores Profitable In 2021

Are Shopify Stores Profitable in 2021 

There are hundreds and thousands of Shopify store owners that profit daily on Shopify.com

Shopify is a great platform and way to start your own online store. But, there are a lot of factors like your product, marketing, returns, refunds, that influence the profitability of your own Shopify store.

There are two ways to use Shopify Stores:

• Selling your own products:

People sell made by designers products or manufacture their own products.

This is a great way to earn money if you have a certain set of skills and using this method, you need to store the products in a warehouse and ship the products to the customers on your own. Which might get harder after a while. There is also a huge investment for the stock of products as well as a warehouse and even employees.

• Dropship and Retail Arbitrage:

Dropshipping is a way that most people earn money on Shopify, Amazon, or eBay.

Many online businesses make their profits by dropshipping and Retail Arbitrage.

Since dropshippers don’t list their items and hold the physical stock there is no need to worry about the shipping process, all you have to do is request the supplier to ship it to your customer and collect the profit.

Which One Should You Choose?

Dropshipping would the right choice for you unless you are an independent seller that sells their products.  

Several factors can influence the profit

Choose The Right Product:

The product that you are selling is the most important factor for a Profitable store and according to the products demand the sales will grow, learn what are the most popular products in the market and focus on them.

Marketing:

A lot of people use Facebook to generate traffic to their Shopify or eBay store,  which helps the store owners reach the products to potential customers, you can market your store on other social media platforms like Instagram, Youtube, Google, TikTok, Snapchat and more.

Pricing:

Has a huge effect on the profitability of your Shopify or eBay Store. After finding a profitable product, you must price it in the amount that makes you profit but also consider that if the price is too high, you might not have that any buyers.

Shipping Time:

Shipping time is the most important thing for users. Delivering your product faster is always appreciated by customers.

Customer Service:

Customer service is of great importance in any eCommerce store. 

People look for after-sales service, refund, replacement guarantees before they order from your store.

Make sure you specify all the services that you offer as a seller to that for avoiding legal claims.

Customer service is one the most important part of succeeding in this industry, most people would purchase from you over and over again.

So make sure you offer an amazing customer service and experience to make them keep on coming back to your online store.