Press release
Dropshipping Market Size To Grow At A CAGR Of 24.70% In The Forecast Period Of 2024-2032
Dropshipping is a retail fulfilment method where stores don't stock the products they sell. Instead, when a store sells a product using the drop-shipping model, it purchases the item from a third party, typically a manufacturer or wholesaler and has it shipped directly to the customer. This strategy minimises risk, reduces overhead, and offers a plethora of product choices without the need for substantial upfront investment.
The swelling inclination towards e-commerce is significantly boosting the global dropshipping market growth. As more consumers opt for online shopping due to its convenience and variety, retailers are seeking methods to optimise their supply chains, reduce overheads, and provide a broad product range. Dropshipping addresses all these needs, making it an increasingly popular business model among budding entrepreneurs and established businesses alike.
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Moreover, the digitisation wave and easy access to technology have democratised entrepreneurship. As per the dropshipping market analysis, platforms like Shopify, WooCommerce, and BigCommerce have lowered the entry barriers for many aspiring entrepreneurs. These platforms integrate seamlessly with dropshipping solutions, allowing even those with minimal technical expertise to set up and run online stores. This democratisation, combined with the desire to tap into the e-commerce boom, has significantly contributed to the explosion of the market.
Another pivotal factor propelling the dropshipping market demand is the increasing emphasis on cost optimization among retailers. Maintaining inventory, especially for new or niche products, can be a costly affair and ties up capital. Dropshipping eliminates the need for retailers to commit significant funds to inventory, freeing up capital for other investments or operational costs.
Additionally, the rise of social media influencers and the integration of shopping features on platforms like Instagram and Facebook have created a new avenue for dropshipping. Influencers, who previously limited themselves to product promotions, are now launching their online stores without the need to manage inventory, leveraging dropshipping to capitalise on their vast follower base and further contributing to the dropshipping market size.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/dropshipping-market
Market Segmentation
The market can be divided based on product, destination, and region.
Market Breakup by Product
• Toys, Hobby, and DIY
• Furniture and Appliances
• Food and Personal Care
• Electronics and Media
• Fashion
• Others
Market Breakup by Destination
• Domestic
• International
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global dropshipping market. Some of the major players explored in the report by Expert Market Research are as follows:
• DropCommerce
• Sunrise Wholesale Merchandise
• Worldwide Brands
• Spocket
• Wholesale2b
• Doba Inc.
• Alibaba Group Holding Limited
• DropshipZone
• Modalyst Inc
• SaleHoo Group Limited
• Others
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