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HOW TO MAKE MONEY WITH HIGH TICKET E-COMMERCE
Selling high-ticket goods is the only way to achieve dropshipping. You will make more money as a result of this. Many drop shippers make the mistake of attempting to sell goods for less than $10 in the hopes of making a $3 profit.
You'll need to sell 1,000 pieces in a month to make $3,000 if you do this. Although some people will succeed, it is not a wise decision. Before you can hit that sales level, you must spend thousands of dollars on ads and devote a significant amount of time to marketing.
But how do you go about doing it? We're going to show you how to make money with high-ticket dropshipping today.
If you do this, you'll just need to sell a few things to make a lot of money. First, we'll go over what dropshipping is, and then we'll show you where to look for these things.
What Is The Concept Of Dropshipping?
Dropshipping is a common business model in which three parties are involved. The supplier, you, and your client are the three of them. Dropshipping is when you sell another person's product and retain the benefit.
What Exactly Is A High-ticket Item?
Although there is no specific description for high- and low-ticket products, a high-ticket product is typically defined as one that costs over $1,000. This is a little big for dropshipping; there aren't many legal dropshipping items that cost more than $1000.We'll concentrate on goods that cost more than $500 in this post. This is also much more costly than commonly-sold pieces for dropshipping. Since the recommended profit margin for high ticket items is about 35-40%, each $500 sale would net you at least $175-200 in profit - not bad for a single sale!
What Methods Do You Use To Locate High-priced Items?
Many people assume that high-ticket products cost at least $1,000 when they hear the word. This isn't correct. Thousands-of-dollar products, such as Louis Vuitton bags, are almost always labeled.
Customers would rather buy directly from the brand manufacturer than from you, so you can't sell products at this price.
We'll define high-ticket products as those that cost $200 or more at retail for the purposes of this tutorial. This means you can make a profit of at least $30 per object.
To benefit $3000, you only need to sell 100 units per month. To profit the same amount in low-ticket drop shipping, you must sell 1,000 units with the same effort and spend the same amount of money on advertising.
Here are the two best places to look for high-ticket items that you can dropship:
Both are methods for dropshipping suppliers. Before you can use them, you must first create an account. They have a list of suppliers all over the world that will send the goods directly to your customer as folders.
Spocket is a piece of software that you can use for your Shopify or WooCommerce shop. You can use this method to locate goods based on the supplier's position. This feature could make searching for items from specific countries much easier.
You can filter the items by price and category to make your quest easier. There is a price filter and a category filter, as seen in the screenshot below. These filters can help you find high-value items to sell.
After that, you can scroll down the page to find a product that you're interested in.
SaleHoo reminds me of Spocket. It has over 8,000 suppliers, all of whom have been approved by SaleHoo's management. When it comes to selecting vendors, the organization has high expectations because they want to ensure that both the drop shipper and the consumer have the best experience possible.