Drop Shipping: The Latest Trend To Take Florida-Based Small Businesses By Storm
While not everyone may agree with the policies of President Trump, the fact of the matter is that the United States economy seems to be performing well. In fact, recent figures highlighted the fact that the jobless rate is now at a 49-year low of only 3.9 percent.
While this is great news for the economy as a whole, we still need to keep in mind that many Florida-based small businesses are facing a number of challenges. It is important to appreciate how technology is influencing the marketplace and why one particular method known as drop shipping is set to make waves in the coming year. Let us take a closer look.
What is Drop Shipping and What Are its Advantages?
Businesses face a number of logistical hurdles; particularly those which have only recently gone active. One daunting task is successfully managing inventory and shipping while on a limited budget. There are many times when Florida businesses simply do not have the manpower or the experience to tackle such concerns. As a result, efficiency is sacrificed and customers could be driven away into the arms of local competitors. Drop shipping aims to address these situations in an entirely unique manner.
Drop shipping involves the use of a middleman in between the seller and the final buyer. For example, a customer will confirm an online order. Once this order has been verified, it is sent to a third-party supplier. This supplier physically possesses the product within its inventory. This product is then shipped to the original buyer. Succinctly, the seller no longer has to be concerned about inventory or tracking shipments. This frees up a significant amount of time so that other key areas such as product marketing and client engagement can take place; helping to ensure brand loyalty.
However, the advantages associated with third-party drop shipping do not end here. There are many times when the supplier is able to provide products at a lower retail cost. This helps to boost profits and attract even more potential customers. It is possible to monitor shipments within a real-time scenario, so the buyer can be made aware of when his or her purchase is expected to arrive. In the event of a question or a problem, the seller is provided with a number of intuitive tools. After all, keeping clients happy is one of the best ways to guarantee success.
While the concepts behind drop shipping are clear, it is equally as important to appreciate how this method could very well be set to transform digital businesses throughout Florida.
The End of the Physical Retail Store?
One of the issues which has raised a handful of eyebrows is whether or not the online business community is set to outpace and conquer the physical retail store. Are brick-and-mortar franchises set to go the way of the dinosaur in the near future? Will there come a time when all purchases are completed within the digital community? Such doom-and-gloom scenarios have been circulating for years. Is there any truth behind their predictions?
The short answer is no. While it is indeed a fact that the e-commerce sector is growing in leaps and bounds, it will never completely overtake traditional methods of purchasing goods and services.
Having said this, it is likely that certain trends will gain ground. Many Florida businesses will choose to incorporate a digital presence within their retail sales strategies. This can be thought of as “adding another string to the bow”. This enables them to target audience that would have been all but impossible to reach in the past; perhaps even those across state borders. The fact that digital marketplaces are also easy to maintain and cost very little to operate certainly strengthens this trend.
The main takeaway point is that the online e-commerce community is beginning to blur physical and geographical borders. With the help of innovative methods such as drop shipping, businesses can enjoy an even higher return on investment while still strengthening their consumer base. This is great news for anyone who is willing to fully examine the potential benefits associated with online transactions. Of course, extra sources of income will likewise benefit the Florida economy; welcome news for Floridians who are still trying to make ends meet.
2019 looks to be a promising year on both a national and a state level. Regardless of where the nation’s economy may be headed, the fact of the matter is that the world of e-commerce is here to stay. Florida business owners have a wealth of opportunities at their immediate disposal and it will be interesting to see what the coming months have in store.
Source: South Florida Reporter