Many people are subscribing to the dropshipping business model because of the wide range of products available for sale. Dropshippers can either choose to sell high-ticket products costing up to $1,000 or products worth pennies or several dollars. Many dropshippers avoid high-ticket dropshipping products as they think it's difficult to sell.
That is a common misconception because your success story could begin with high-ticket dropshipping products. On the contrary, a lot of dropshippers are making headlines with high-ticket products. This article is mainly to introduce high-ticket dropshipping in various aspects.
- Part 1: What Is High-Ticket Dropshipping?
- Benefits of High-Ticket Dropshipping
- Drawbacks of High-Ticket Dropshipping
- Part 2: 4 Proven Ways to Find the Best High-Ticket Dropshipping Products
- 1. 1. Find a trustworthy high-ticket dropshipping supplier
- 2. Focus on product quality
- 3. Do competitor analysis
- 4. Look for offers of premium shipping
- Part 3: 10 Best High-Ticket Dropshipping Niches 2020
- Part 4: 10 Best High-Ticket Dropshipping Items 2020
- Part 5: Conclusion
What Is High-Ticket Dropshipping?
A high-ticket product is mostly referred to as a product that costs more than a thousand dollars. While for dropshipping, this is a bit high there aren't several legitimate dropshipping products that are priced more than the $1,000 mark. The amount you're selling your items for doesn't matter because there is no official cut-off point where low-ticket dropshipping becomes high-ticket dropshipping.
High ticket dropshipping products are much more expensive than commonly sold items since the acceptable profit margin for high-ticket products is about 35-40%, each $500 sale will make you a profit of about $175-200, and it's not too weak for a single sale. Before considering high-ticket dropshipping, here are the benefits and drawbacks you need to know.
Benefits of High-Ticket Dropshipping
1. A more sustainable business model
The standard dropshipping usually involves jumping onto the latest and hottest trending dropshipping products 2020, making bank and then shifting onto the next product immediately the product becomes stale. High-ticket dropshipping usually involves selling less trendy or hot products (for instance, commercial restaurant equipment or electric bikes). People who dropship high-ticket items usually experience little competition and are less affected by trends. This helps them boost their business possibilities for a long time.
2. A lower volume of customer support
Having a small customer-base might be a blessing to high-ticket dropshippers. They tend to have minor support requests. This way, they save valuable and estimable time that can be spent on other areas of their business. High-ticket dropshippers can allocate lots of resources, care, concern, and attention to your high-paying customers.
3. Higher profit margins
Getting lots of profit is the top benefit of high-ticket dropshipping. More significant and more substantial profit margins provide a quality and reliable platform from which you can launch your growing business. Having a high-profit margin implies that you have enough money to invest back into the business later on.
Drawbacks of High-Ticket Dropshipping
1. Higher start-up costs
Although the start-up costs will still be low similarly to other several businesses, you'll require more cash reserves than when you are dropshipping low-ticket products. Since your products will be more costly, you'll have to invest more dollars in advertising, setting up your store, product photography, copywriting, etc. just to attract and get premium buyers.
2. Suited to more experienced dropshippers
High-ticket dropshipping isn't impossible if you're inexperienced in e-commerce. Still, experienced digital marketers with vast experience in advertising, sales funnels, and branding have a much better opportunity for great success. People don't just suddenly purchase an $800 inflatable fishing boat like they would buy a $10 fidget spinner, so experience in guiding and supervising customers through the buyer's journey is hugely beneficial.
4 Proven Ways to Find the Best High-Ticket Dropshipping Products
It is necessary to cooperate with top dropshipping suppliers, like GoTen Dropshipping Platform to source and sell high ticket dropshipping products 2020.
GoTen.com is a global dropshipping and wholesale platform, a subsidiary under ZongTeng Group. They provide global online sellers with quality dropshipping products of 20,000+ profitable SKUs and as quick as 2-day free and fast delivery from local US/UK/DE/FR warehouses. With the GoTen Dropshipping Platform, you can concentrate on making the best of your marketing and sales talents and allow them to fulfill the rest. This helps you save time and cost without worrying about any product, inventory, delivery, or after-sales problems.
2. Focus on product quality
The minute someone is releasing a large chunk of their hard-earned cash, you must ensure that they're getting an excellent value for their money. Order and carefully examine your selected product before opening your store to ensure that it's up to scratch.
Before you start selling a product, it's essential to scrutinize your competition. Make use of a tool like Salesource to see what other stores are presently selling your product immediately. Carefully examine what they're doing and think of a plan on how you're going to do better than them.
You'll obtain valuable sales data and better understand whether or not going ahead with the product is possible. Doing a proper Shopify product research on a high-ticket product is essential in other to be successful in this niche.
4. Look for offers of premium shipping
GoTen has been dedicated to making it easier for global sellers to launch and improve their online business. In comparison, other suppliers require you to pay about $200+ on a product and your customer expects to have to wait for about 25 days before their order can arrive.
The more significant profit margin you're making on the sale should enable you to include a premium and reliable shipping carriers, such as DHL or FedEx. GoTen works with DHL, FedEx, UPS, etc., for fast delivery. Working with GoTen allows your customers to get their product as quickly as possible with a functioning tracking code.
10 Best High-Ticket Dropshipping Niches 2020
Are you looking for the best high ticket items to sell 2020? Below are the 10 best high-ticket dropshipping niches in 2020 to help you easily discover high ticket items to sell on Shopify, and other ecommerce websites:
1. Lifestyle Niche
2. Power Tools
3. CNC Machines & Tables
4. Home Theater Seating
5. Outdoor Kitchens
6. Beauty and Health
7. Warehouse Shelving
8. Closet Organization Systems
9. Drone and Accessories
10. Billard Tables
10 Best High-Ticket Dropshipping Items 2020
If you're thinking of the best high-ticket dropshipping items in 2020, here are 10 of the top-selling high-ticket dropshipping products 2020 for you.
1. N95 Respirator Mask
2. Hand Sanitizer
3. RC Car
4. Ear Plugs
6. Portable Mini Air Conditioner
7. Wireless Charger
8. Car Phone Holders
9. Moon Lamp
10. Magnetic Charging Cable
We hope you now have a concrete understanding of everything about high ticket dropshipping products and high ticket niches. So, all you have to do now is to set up your dropshipping store and start promoting high-ticket products 2020 now.