Are Shopify Stores Profitable In 2021

Are Shopify Stores Profitable In 2021

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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.

 

dropshipping suppliers

How To Profit With Shopify As A Dropshipper in 2021? 

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How to Make Money on Shopify in 2021? 

Shopify is one of the most popular e-commerce platforms. It takes part in 20% of the market with over $100 billion in total sales.

Online sellers can easily set up and manage their own online stores using the Shopify platform.

According to Shopify’s information, there are over 1 million active stores in over 175 countries.

Here are some good ways how to profit from Shopify in 2021.

Shopify is an e-commerce seller’s platform. It adds value because of the reach features and the average price.

The Shopify platform is simple. You don’t need to be an expert to have your own store.

Their basic plan starts in the amount of $29 with many. It includes available customize.

In the Shopify app, you can find applications that can add features to your store and improve it. those applications can help you and make the experience better.

enhancing user experience, helping you become more profitable, and optimizing your store. Many of these apps are free or low-cost.

This ability to integrate your Shopify store with many tools make this all process simpler

remember the meaning of Shopify is profit, that why Shopify gives all of the tools to her costumer to succeed,

as an online seller one of the most important, this is how to manage your online store.

from sett the prices to servicing your customers.

Shopify calculator helps you make the most write data to make decisions that are writ to your business.

learn which areas of your store need to be improved and focus to optimize your profitability.

Dropshipping with Shopify

As a dropshipper, you simply need to market, acquire the customer and provide customer support, while the supplier will ship the product directly to your customer.

Benefits of Dropshipping:

Low cash flow problems, as a dropshipper you only pay the supplier after the customer has paid you for the product. And there is no need to hold a physical stock.

There are no shipping fees or logistical payments, thus the fees are low.

Low risk as a supplier, most of the time the supplier is dealing with the returns process,

The dropshipper is responsible for customer acquisition with marketing and customer support.

As a dropshipper you must pay attention to the source reliable suppliers as product quality, delivery reliability, and returns policy, that’s can make or break your reputation as an online store owner.

One risk of being a dropshipper is that your profit can below if you don’t set the right pricing strategy.

Remember to your profit as part of the process to succeed and profit more as a dropshipper.

 

Automated Dropshipping Shopify

How To Profit With Shopify?

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What is Shopify?

let’s get to know Shopify in detail. Shopify is one of the popular eCommerce platforms, Shopify has 

1.9 million users around the world.

Shopify has become a great marketplace for drop shippers all around the world.

success does not happen by luck, for any Successful business, you must work hard.

Learn what are the advantages of Shopify.

Every business needs its tools to be more successful, depending on the business type.

those are the advantages of Shopify:
 easy Set-up: 

Shopify has made an easy start to your online store. 

With a free or paid plan, all you have to do is to make some small actions and that’s all.

Even if you don’t have any products to sell, Shopify has the solution. 

You can find great products to dropship.

companies from all sizes using Shopify service. 

that means Shopify is with you from the very beginning.

All you need to do is to select the best plan that’s fits your business on Shopify, 

 start your online adventure.

Smart Addons:

Shopify provides a simple eCommerce store. 

Then, you can enrich your store with 3rd party apps according to your needs. 

Shopify has large marketplaces for the seller.

Shopify App Store, there are over 4,500 apps for eCommerce solutions that can fit your online business.

like mobile app builders, customer loyalty, and more services that can help your business.

Large Community: Shopify has big a community platform that includes more than 70K peoples.

This community includes owners stores, eCommerce technologies developers, eCommerce agencies, and more.

 In this platform, you can find answers to almost any eCommerce question or problem. 

Maintenance-

Shopify is a cloud service, that is means that as a seller you don’t have any maintenance costs. 

Also, you do not need uptimes or performance. It has an uptime ratio of 99.99% and with a high speed all around the world. Regardless of business or product types.

How To profit from Using Shopify?
Become a Shopify Affiliate to earn money with Shopify:

the way to gain money with Shopify is to become a Shopify Affiliate. Shopify has an established affiliate program which many people create a passive income.

It is an easy program, all you have to do is to sign up, once you get your affiliate link you can earn up to $2000.

B. Start your own eCommerce business :

Opening a basic online store with Shopify does not mean that as a seller you are going to profit.

There are many missions to do to gain the main target- profit.

the First thing that a seller must do is to:

  •  create a business plan-

value your business idea before you start your online business.

  • Define your clients and find your eCommerce niche.

Create a communication strategy and a reason for clients to buy from your online store.

  • choose your digital channels that you will promote your brand and products.
  • Define your return, payment, shipping.
  • create an affiliate program. 
  • Start your online store with a specific design and always continue with this line of design.

 

Dropshipping cart

Facebook Marketplace

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Learn How to sell on Facebook Marketplace

Facebook Marketplace has in 2016, quickly proved itself for buyers and sellers alike.

Facebook’s marketplace is an online shopping platform that came in perfect timing. users in Facebook were already creating and joining buy and sell groups on Facebook. Facebook just made this platform official.

On Facebook Marketplace, you can buy and sell within your community, there a specific niche that the seller and buyer can use. 

If you’re a U.S.A seller can only sell across the continental United States.

Facebook Marketplace provides public profiles and rates for sellers and buyers. 

The ratings provide buyers and sellers confidence about their transactions.

Through Facebook Messenger, you can chat with customers. Facebook makes the complete process easier using the most popular social media.

with Facebook marketplace the payment process is easy, you are free to use other platforms of payments such as cash and PayPal.

You can sell everything on Facebook Marketplace, from ranting a house, salle care or sell a TV,

new or used.

And because Facebook is a free platform and that’s why the seller does not get fees charge.

it’s good to start to get into the e-commerce world

How do I sell things on Facebook Marketplace?

The first step is to create a listing for the item you’re selling. 

Select Facebook Marketplace in the main menu and click on the Sell button at the top of the Marketplace menu.

you will need to choose between four types of listings: 

  • Items
  • Vehicles
  • House for sale or rent
  • Jobs

Next, upload the product picture, price, title, condition category, location, description, and more information that you have decided on.

Once you have provided the necessary information, click Next.

Publish to make your listing.

It will be available to everyone on Facebook.

let’s understand what are the four sales categories on Facebook Marketplace

Facebook Marketplace categories

Learn what is allowed and prohibited in each sales category.

Items:

All items must be physical products.

the product that allowed are:

  •  Clothing
  • Accessories electronics entertainment hobbies
  • Home and garden
  • Selles
products that are Prohibited to sell on Facebook Marketplace: 
  • Weapons ammunition
  • Animals
  • Drugs
  • Tobacco
  • Dietary supplements adult products and services
  • Real or fake currency
  • Healthcare products, a product with a before and after photo attached, Recalled products
The Advantages and Disadvantages of selling on Facebook Marketplace
Advantages – 

Facebook has more than 2 billion active users. 

75% are checking their Facebook account every day.

Thanks to Facebook’s sophisticated algorithms, people in the physical area will see your products that are up to sell.

with the Facebook marketplace, it is very easy to share products on your Facebook groups and sell platforms

Strong customer-

 Since the seller can talk with buyers with the Messenger platform, the buyer can see the seller Facebook profile, 

that’s gives the customer trusts to buy the products

Quick and easy listing process.

 The more professional and esthetics your listing looks, your sales will grow

It is easy to polish your products-

 for example by upload several photos, up to 10 at a time the main reason is that buyers can look at the pictures and be more secure to pay for the products

Convenient shipping. 

as a seller, you can make the next decision, who will pay for shipping. 

creating and printing shipping labels facebook marketplace it is easy and inexpensive for buyers.

If the seller 

pays, the shipping cost is automatically part of the amount

Disadvantages – 
Limitations on volume sales-

If you have some variation of the same product, you must create an individual listing for each item that sells. 

Selling multiple quantities of an item is allowed if you post from a business page, but some sellers have reported issues even then.

Sparse notifications-

Facebook has a system that will email you updates about your listing,

you may or may not receive phone notifications

Facebook Marketplace rules-

Besides uploading products and selling items, the other main rule for selling on Facebook Marketplace is to ship items in a timeline that has been determined.

If you are a seller on Facebook Marketplace, you must ship the product in three days from the day you have made the sale. the Delivery must be after 10 days of the sale.

There are no rules about negotiating with buyers

How to negotiate with buyers on the Facebook marketplace-

Commonly, buyers are trying to negotiate on price the main thing is to avoid doing so on Messenger. Buyers will often hold off on the next seller instead of lowering their offer.

With items that you are shipping, it is up to the seller if negotiate on the price. 

For personal transactions, a straight exchange for cash or a check is better

How much does it cost to sell on Facebook Marketplace?

there are no costs for an individuals seller to sell on Facebook Marketplace.

moreover, there is no fee to join Facebook or Facebook Marketplace.

If you operate on Facebook Marketplace as a merchant, you must pay a 5% fee on any transactions, with a minimum charge of $0.40.

pay attention, you can only sell items priced between $5 and $500. 

 if you sell an item for $5, you will pay $.40 on that transaction even if the 5% fee is $.25.

 

Is selling on eBay better than Facebook Marketplace

Is selling on eBay better than Facebook Marketplace?

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This is a yes and no answer for both sellers and buyers. The answer depends on the item.

eBay has more audience it is a global platform the has grown in the last few years, while the Facebook marketplace is more local and didn’t arrive at global sales.

Facebook marketplace is faster but possibly less money to sell. 

On the other hand, it’s better for buyers, more accessible.

eBay, may take longer delivery, the products you’ll get the exact price you want as a seller it a buyer.

eBay has more options and variations, while on Facebook you won’t find the exact product you are looking for.

Facebook has no fees, while eBay charges a fee for selling and PayPal charges a transaction fee.

Again it all depends if you are a seller or a buyer and what is the specific item.

Facebook has the largest audience than amazon.

Facebook is the platform that has the largest audience more than amazon. The problem is that the Facebook marketplace is very hard to sell because many Facebook users don’t use the marketplace platform and prefer to buy on Amazon or eBay. So the best idea is to sell on multiple platforms. In Triplemars platform you can sell the same products in multiple destinations, and now you can gain more audience that watches your products. And you don’t take any risk because if your store got blocked you have other stores on other platforms. Therefore this is a win-win situation so we recommend to every Triplemars customer is to keep their business in multiple destinations to minimize risk and to be a bigger seller

Last important point, we talked about Facebook marketplace speed. Very easy to use and fast another thing that makes Facebook marketplace so special is the money that you pay to them every month, cheaper than eBay and Amazon, so selling fees estimate to be cheaper

Best Automated Dropshipping Software for Ebay

Shopify Or eBay? On Which Platform Should I Dropship?

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Shopify and eBay are two of the biggest names in the online selling industry. But which, the platform is more profitable and will grow your online business.

Shopify or eBay:  

Both platforms enable small online business owners to sell products with varied and renewable inventory, to sell those products online.

this is the only thing that is similar to those platforms.

How Does eBay Works? 

eBay is one of the oldest online marketplaces.

eBay is the first online auction platform. 

there some sellers that use eBay to list some antiques, secondhand products, and other products, on the other hand, there are sellers that sell some new products and original items. 

As a dropshipper, you can open your own eBay store, upload products, and sell them online, as a dropshipper you don’t need to have physical stock, the idea behind it is to be a mediator, upload some products from one marketplace to another and profit from the pricing gap. 

Either way, online marketplaces like eBay are the best platform for online business. hobbyists, or business.

It is another platform to gain money.

How Does Shopify Work: 

Shopify is one of the most popular online marketplaces for online businesses, on Shopify, the seller builds his own web. 

Rather than simply auctioning off your items, as you would with eBay, when you opt for selling on Shopify you’re opting to have full control and management over your store, product fulfillment, and customer relationship management.

The most valuable thing in Shopify is your Shopify store, there is access to the Shopify App Store, as a seller, you can download thousands of compatible apps that can help you as a seller to provide the most important things on your online store and optimize your Shopify store, for example, marketing apps, store design apps, order, shipping, customer service, retention, inventory management and more.

Pricing:

like all businesses, it takes money to make money, on both platforms.

 Here is the comparison between the costs fees and costs involved in opening a Shopify or eBay store

Shopify Pricing:

in Shopify, there are 3 programs.

services plans: 

  • The basic plan of Shopify
  • Shopify
  • Advanced Shopify

The Plans are different, every plan has different benefits, in available features, capabilities, Shopify Shipping discounts, and reduced rates through Shopify Payments. 

in every plan the seller can choose, to upload an unlimited list of products on the smaller site, also have an access to other features, check out on Shopify’s Pricing page.

Every plan have the access to the Shopify App Store

so if you are smaller on Shopify and your 

the plan doesn’t include some process, feature or tools, that you’re looking for, you can find it on thousands of Shopify-compatible apps.

Shopify Pricing- monthly payment: 

  • The basic plan of Shopify- $29 per month
  • Shopify- $79 per month
  • Advanced Shopify- $299 per month

Shopify’s has monthly fees become steep for the advanced plans, but as they’re stable fees, it is very easy to plan for in your own business budget.

Shopify offers 14 free days that are for every seller, so you can days take advantage of Shopify’s 14-day free plan and Make sure the platform is right for you.

Shopify offers to small or new businesses to use Shopify Lite, for $9 for a month. this plan enables selling on existing websites, blogs, or on Facebook and through an embeddable Buy Button. 

Businesses that have a lot of orders, can make the Shopify Plus plan, this plan provides selling solutions and prices for enterprises

eBay Pricing and Fees

If you’re a seller that u sell one-off items, then eBay won’t charge you for a monthly service, but eBay will charge several types of selling fees when you list your products on this platform, including:

Insertion fees

Final value fee 

final value fees on shipping

Payment processing fees 

Remember that if you open an eBay Store as a seller, you’ll have to pay for your salle plan, a monthly or yearly payments subscription. either a monthly or yearly subscription.

the plan pricing:

  • Starter: $7.95/month, or $4.95/year
  • Basic: $27.95/month, or $21.95/year
  • Premium: $74.95/month, or $59.95/year
  • Anchor: $349.95/month, or $299.95/year
  • Enterprise: $2,999.95/year

Now that you have all the necessary information about eBay and Shopify which platform will you use?

 

Best Automated Dropshipping Software for Ebay

eBay Managed Payments

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The meaning of the new eBay managed payments 

Managing payments improved the selling and buying experience on eBay, provides buyers with several ways to pay and several platforms for the seller to accept the profit. eBay has managed billions in payments for thousands of sellers with PayPal but with the new eBay managed payments eBay will require all sellers to register for eBay to manage payments in 2021.

The reason for the managed payments

this change has come for some reasons: 

It is more simple to sell –

With the new eBay managed payments it is easier for buyers to pay. And that is why the sales will grow, with these managed payments it is more flexible, with more payment options for buyers.

Low fees- 

With the new eBay managed payments the fees are lower, in that way you can save a lot of money and profit more. 

Pay lower fees and profit more.

Simpler to manage your online business-

All the information that requires to manage your online business in one place, reports, returns, claims, and disputes, all in one place.

Did you get a message from Payoneer?

When you have received a message from eBay that recommends is to register before the deadline. And avoid any interruption to your online business. This process consists of several simple steps. Once you have done the registration, eBay will send you some details about how to prepare your online business.  And take full control of a simpler approach to payments.

To complete the process, the seller and buyer have to open a Payoneer account. The managed payments allow buyers and sellers to lead global payments.

the new managed payments allow sellers to easily receive funds associated with their transactions on eBay.

This new partnership allows sellers to manage all their financial transactions on eBay. By streamlining the selling process, you can more easily manage profits.

If you have a Payoneer account you will be able to connect your account to your eBay account as part of the Changement to managed payments  

If you don’t have a Payoneer account, you will need to open a new account to complete the new managed payments process. Without this part you won’t be able to be a seller on eBay. 

Payoneer will request information for your registration, please provide this information to is complete the process.

As part of the registration process, the seller can choose to add any bank account.

Please make sure that the name, address, and business information on your bank account are the same as your eBay account.

eBay will work closely with sellers to make sure that the new payments experience provides a solution to all the seller’s needs.

Once you register, nothing should change until eBay will activate your account.

eBay will send you an e-mail that notifies you about the deadline date of your activation. This message will include information on the new managed payments.

 

Learn what are the benefits of the new eBay-managed payments?

 

 

Tripple Mars - Motive

The Benefits Of The New eBay Managed Payments

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The Benefits Of The New eBay Managed Payment.

Since its inception in 1995 eBay has capitalized on the obsession we have for online shopping and selling. But for those who run a business buying and selling items on eBay, reconciling accounts can get messy at the best of times. 

For eBay, all of the payments and purchases were previously worked with Paypal, all of the transactions across the two platforms took a lot of time-consuming, causing inaccuracies, challenges with 

refunds and payments. 

To resolve those issues, eBay transforms to the new Managed Payments.

What Are The New eBay Managed Payments?

After Paypal became an independent company, for the past 5 years, sellers and buyers still could use Paypal as part of eBay experience. 

However, that’s going to change.

eBay’s new Managed Payments, eBay has replaced Paypal with a new platform for sellers to manage their eBay business and for buyers to have the ability to pay in other options. 

According to eBay’s Managed Payments FAQ section: 

“Managed Payments is the new way to do business on eBay […] all sellers will eventually be required to have eBay manage their payments to keep selling on eBay”. 

Yes, As a seller, must use the new eBay Managed Payments. 

So, how will this effects seller on eBay? 

This change should make life easier with consolidated fees, customized reports, refunds and returns, labels, simplified protections, and tax documentation, all accessible through your eBay account.

How Does eBay Managed Payments Works?

In the interest of eBay is to keep all of your transactions within their platform. The idea behind this changmant is that eBay’s internal platform is more streamlined, saving sellers time and money. that’s means that sellers can sell and get paid all of the financial information in one place. 

Rather than funds being routed with Paypal and incurring additional fees, eBay manages the transactions between the seller and buyer. Sellers have access to their own ‘Seller Hub’ where you can track sales, obtain invoicing information, schedule payments, and more information.

The benefits of Using eBay Managed Payments:

Automatic funds transfer: in Contrast to the old platform of using PayPal and having to move funds to Paypal and then into your bank account. You can directly deposit your eBay balances into your bank account when using the eBay Managed Payments platform.

Payment options have increased:

  •  Credit cards
  • debit cards
  • gift cards
  • Paypal
  • Paypal Credit
  • Google Pay
  • Apple Pay 

are all accepted new and the buyer can easily pay. 

This can avoid a situation where the customer does not complete the transaction because of the fears of the buyer entering credit information in an unsafe manner

Better Seller Protection:

Paypal used to manage disputes as a third party, now sellers can manage those issues directly through eBay. This gives the seller more control in the complaints process. 

Fee:

There are lowers fees, using the new eBay Managed Payments. You’ll just pay a minimal 

the fee to eBay for each item sold and listed. 

Refunds And Returns:

With low fees lost to a third party, you can refund up to 100% of the purchase price on returns. These can be done simply with eBay. 

Easier Order Management:

Easily track your sales introduction of a single order number for each sale. This improves the seller’s ability to track stock levels. 

Great Shipping Options:

New eBay’s Managed Payments global shipping program ensures sellers can easily ship internationally.

Disadvantages of Using eBay Managed Payments.

Delay in finances:

The funds can 2-4 days for transferred from eBay to the bank account, some sellers have reported about 7 days for the transfer.

Additional Fees:

The transaction fee of $ 0.25 for each listing, now every order applies in addition to a payment fee of 2.7% of all the order value.

The coast of the new eBay Managed Payments As A Seller

The new eBay Managed Payments Fees are lower than before.

A fixed fee of 30 cents for every listing applies in addition to the standard post-sale fee.

Avoiding Paypal’s fees means that sellers will pay fewer fees for every deal that’s how sellers saving money and profit more compared to the pre-managed payment days.

So, Is eBay Managed Payments is better for sellers? 

The new eBay managed payments certainly have some details that are still missing, and there are as many good opinions as there are negative opinions about it.

As a seller this change is positive, eBay shared one seller’s perspective in detail 

The seller saves more than $ 1200 of Paypal fees compared to the old payments. 

It is easier to use the payments portal.

Easier Sales records numbers for tracking purchases.

The 30c saving 30 cents of each listing compared to the old system

funds transfer upload the sales, the buyer has more options to play safely.