When it was introduced, eCommerce was limited to only several large vendors. However, the situation has changed dramatically in the meantime. Almost anyone can now sell products online, which means that the competition is fiercer than ever. That is why many vendors opt for the concept of dropshipping, thus trying to reduce their costs and resources to offer lower prices. The concept is quite simple: instead of keeping products on stock, companies simply take orders from customers and then have manufacturers or wholesalers ship the product to the buyers. This eliminates the need to have warehouses and pay people to man them, which is a very convenient and efficient way of keeping the operating costs low. The profit is made by offering the product at a price slightly higher than the one offered by manufacturers and wholesalers.
With the competition growing stronger each day, it’s vital that those interested in entering the world of eCommerce and those struggling to survive in it consider making themselves stand out. One of the ways is definitely the option to accept Bitcoin. When you receive Bitcoin from your customer purchase on your dropshipping website, you can initiate dropshipping orders off your credit card or with cash. This is also a great way to earn Bitcoin without buying it directly.
Advantages and disadvantages
It should be stated that apart from the obvious advantages, such as saving a sizeable amount of money annually by avoiding transactions and other fees linked with traditional payment processing and banks, there are some challenges that you need to be aware of. To begin with, you should know that Bitcoin, just like other cryptocurrencies, is still rather volatile. Also, not everyone is happy to use cryptocurrencies, because they are still a relatively new concept. Still, no business can be run without a certain risk, so you need to approach it carefully, but try to take it in your stride. To help you, we’ve prepared the following list of items that are commonly sold online and whose buyers are generally open to the idea of using Bitcoin.
Let’s start with the most obvious one. With the demand for electronics higher than ever, dropshipping is one of the solutions offered. The niche is filled with a wide range of popular products and if you can correctly predict which ones will see the most short- and long-term growth will help you earn a ton of Bitcoin. Among the most popular electronic products bought online are the items related to wireless audio and wearables. Their increasing functionality has made them popular all over the world and if you accept Bitcoin and start dropshipping, you’ll most likely succeed in your effort to grow a lucrative business.
Reusable shopping bags
People are trying to lower the number of plastic bags used since they have proven to be one of the greatest threats to our planet. The most popular alternative to them is most definitely reusable bags. However, in order to sell them and make a profit, you need to make sure that the quality is great and that the design is something people will find attractive and appealing. After all, such items are something that every person needs and it’s your job to have as many people as possible choose the items you offer. We will be seeing single-use bags in the future, but the trend is quite favorable for reusable ones and you should explore the option of including them in your offer.
While electronics and reusable bags are items that people buy occasionally, cosmetics and beauty products are an ongoing purchase. This means that if your customers are satisfied with the product they’ve bought from you, they’ll be very likely to return and that would establish a great pool or returning customers, who will also be happy to recommend your offer to their friends and family members. The key is to offer a great variety of products because buyers have become extremely picky when it comes to this type of product. Also, it’s very convenient for everyone, regardless of whether they want to spend the cryptocurrencies earned by Bitcoin mining or regular cash, to get all the products in one place.
Another type of products in constant demand are pet products. Actually, this is one of the safest industries to sell in, since you can rely on a consistent audience for your dropshipping store. Just make sure you offer pet food and other products intended for pets, as well as pet-themed accessories and gifts if you want to establish a long-term relationship with your customers.
Fitness and sports apparel
The secret is to find a niche where the demand never ceases to exist, and exercising is one of them. Fitness has become a major aspect of many lives and, as people are becoming more aware of the importance of staying fit, it is expected that the market will continue its rapid growth. Amateurs and professionals alike will always be in need of durable, affordable athletic gear, which makes it the perfect item for dropshipping.
Arts and crafts
Finally, one more interest with seemingly unlimited popularity and appeal. These types of products will probably never go out of style or become passe. With artists of all types, experience levels, and goals, there is an extremely wide range of products that you could offer, provided they are of the highest standards. Basically, there are buyers for art supplies, but you have to find the right products and offer them at the right price.
These are just some of the most attractive when it comes to dropshipping and accepting Bitcoin. The future of eCommerce looks quite promising and it’s probably only a matter of time before cryptocurrencies are globally accepted, which means that those who have recognized the opportunity at an early stage will have much better chances of succeeding.
Author’s Bio: Jolene Rutherford is a marketing specialist – turned blogger, currently writing for technivorz.com. Interested in digital marketing and new technology trends. Love sharing content that can help and inform people.