Divide and conquer
The obvious answer is, to not try and tackle it all. The size of the health and beauty market can actually work to your advantage as it’s made up of so many “sub-markets” you can target. By focusing your dropship business on a smaller market, specific to a particular product or type of treatment, there’s going to be less competition; which will make it easier for your to get a foothold and sell your dropship products.
And these smaller sub-markets don’t mean smaller profit potential either. For example, the natural health and beauty market is forecast to be worth $14billion by 2014, so if you just concentrated on this niche, there would still be plenty of demand for your dropship business.
You might decide to look at the home fitness and body improvement market. Every year, people spend billions on products and equipment to help improve their fitness, the way they look, or ease a particular ailment. Breaking it down even further, you could concentrate on the market for home stress relief, or massage products – there’s really no end to the number if niches you could choose for your new dropship enterprise, all giving you the chance to compete, and make money.
Become the expert
Once you’ve chosen the markets for your dropship business, one of the best ways to establish yourself is to become the specialist, or expert in those markets. Of course, there are benefits to providing a range of dropship products across several different types of sub-markets in the health and beauty niche, a kind of “one-stop-shop” for everything your customers might need. But a better approach for most dropshippers, would be to concentrate on each market individually.
If you build a dropshipping business around one specific product type or focus on solutions for a particular ailment, your customers will come to see you as the specialist in that area, and people always like to buy from a merchant who looks like they know their market, and what the customers want. You could even provide free advice, downloadable guides, or “how to” videos on your site, to support your expert status. Existing customers will keep coming back for information and to buy more, and they will recommend you to there friends and families who are also looking for the dropship products you are selling.
Reliable supplier with the right dropship products
The health and beauty market is a great example of where customers are happy to pay a little bit more for products that they have confidence in, which can be bought from a reliable retailer who is looking to help them solve their problem. By choosing a Dropship Supplier who has the best quality products, presenting them in a way that shows the buyer you understand their needs and how your products will benefit them, more customers will trust you. In markets like health and beauty, buyers need to trust in the product they’re purchasing, and the dropshippers who sell them – if you can achieve this, customers are more likely to buy from you.
The size of the Health and Beauty market, and the number of competitors, might put a lot of dropshippers off, but if you approach it right, you could find a niche that offers even the smallest and newest dropship business, great profit potential. Health and beauty products are always in demand, and customers in this market spend a lot of money. If you build your business up using these tips, you’ll soon have a loyal customer base, who’ll buy from you time and time again.