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It involves selling products without holding inventory from "summary" of Dropshipping by Ralf Percy
Dropshipping is a unique retail fulfillment method where the seller does not keep the products it sells in stock. Instead, when a store sells a product using the dropshipping model, it purchases the item from a third party and has it shipped directly to the customer. This means that the seller never actually handles the product. This concept eliminates the need for a physical inventory, which can be a significant cost and logistical challenge for many businesses. By using dropshipping, sellers can offer a wide range of products without the need to invest in inventory upfront. This makes it an attractive option for entrepreneurs looking to start an online store with minimal risk. One of the key advantages of dropshipping is that it allows sellers to focus on marketing and customer service rather than dealing with the complexities of inventory management. This can lead to a more streamlined and efficient business model, freeing up time and resources to grow the business in other ways. Furthermore, dropshipping can also help sellers reduce the risk of overstocking or being stuck with unsold inventory. Since products are only purchased from suppliers once they have been sold to customers, there is no risk of being left with excess stock that needs to be discounted or liquidated.- Dropshipping offers a flexible and cost-effective way for sellers to offer a wide range of products without the burden of holding inventory. By leveraging this model, entrepreneurs can focus on what they do best – selling products and providing excellent customer service.
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