Understanding Dropshipping business model with CroV

Dropshipping is a business model that allows entrepreneurs to start an online business and sell products to their buyers without ever actually stocking the items themselves. Instead, when a dropshipping store sells a product, it purchases the item from a third party and has it shipped directly to the customer.

WHAT IS DROPSHIPPING?
Dropshipping is a type of business model which enables a company to operate without maintaining inventory, owning a warehouse to store their products, or even having to ship their products to their customers themselves. How it works is that the retailer partners up with a dropship supplier that manufactures and/or warehouses products, packages the products, and ships them directly to the retailer’s customer, on the retailer’s behalf.

In simpler terms, this is how dropshipping works:

The customer places an order for a product on the retailer’s online store.
The retailer automatically or manually forwards the order and customer details to the dropship supplier.
The dropship supplier packages and ships the order directly to the customer in the retailer’s name.
This kind of business model is extremely attractive as it eliminates the need for the store owner to have a physical business location such as an office space or warehouse—instead, all they need is a laptop and an internet connection.
Note: Many businesses that do own physical spaces (offices or warehouses) of their own also use drop shipping for some of their goods as it helps free up resources and space for other products.

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