Offering products without carrying physical stock can seem like a dream come true for an eCommerce store. If done correctly and in line with customer expectations, eCommerce stockless selling (sometimes known as drop shipping) could prove beneficial for your eCommerce store – read on to explore this topic further!
What is the potential of eCommerce stockless selling?
Let us look at some amazing instances of multinational companies:
- Uber, for example, is the largest taxi service in the world, yet the firm does not physically own the cars.
- Facebook is the most popular and well-known media platform globally, although the business does not create or own the content.
- Despite being the world’s most profitable rental company, Airbnb does not create or own real estate.
- Alibaba is an online retail platform considered one of the top ten most valuable and largest corporations in the world – despite this, the firm does not maintain any stocks.
What can we infer from this? It is feasible to sell things online without keeping any inventory on hand, and it will be a legitimate business, not a scam. The most important thing is to select the correct company model: one decision may launch you to heights you never imagined.
eCommerce stockless selling: 4 methods that work
The easiest and by far most effective solution to selling while stockless is BackOrder. This app allows your customers to keep making purchases once inventory has run out. While customers await for their back-ordered items to arrive, your store can keep making revenue while having time to prepare for the next restock!
BackOrder is not for every situation, especially if your eCommerce store is unable to fulfill customers’ orders beyond a threshold. Even though you can set up a BackOrder threshold on the application, stores must determine for themselves the level of confidence when enabling BackOrder.
2. Sell Print on Demand
Websites such as Zazzle and CafePress allow you to design your own products. However, there are individuals who have a natural talent for creating these virtual-to-real presents, and those who have no idea where to begin. This is the place to be if you enjoy design, particularly making garments and items such as notebooks and other office supplies.
Because they are printed on demand, you will not require an inventory. Instead, you may set up shop directly on the internet, and anyone who purchases your goods will have it dispatched directly to them.
3. Third-party fulfillment centers
All of your company’s logistical needs will be handled for you by third-party fulfillment centers. Your items can be stocked and sent using 3PL logistics. For instance, you can utilize a third-party fulfillment center if you make things by hand and want to sell them without having the inventory take up room in your house.
Alternatively, you may place your orders directly with the manufacturer and have the third-party fulfillment center package and ship the items to your customers.
4. Drop Shipping
Although drop shipping may resemble third-party fulfillment, it differs slightly from the eCommerce stockless selling method.
Turning a key is all it takes to start profiting from the advantages of drop shipping, sometimes referred to as “turn-key.” Turning the key here refers to accepting orders on your website and earning a commission; you don’t really do it.
If you decide to dropship, you’ll probably work with a business that offers support. Customers will place orders when you choose what to sell on your website. Orders are transmitted to the business, which will dispatch them.
There are certain considerations that need to be made when it comes to selling without stocking up on inventory. Not only do you have to source the product from elsewhere, but you must also carefully weigh if your customers will value this alternative option offered by your business. With an experienced expert in eCommerce stockless selling, we own key skills and tools to help you with this kind of business, contact us today!