The e-commerce industry is growing, which increases the demand for dropshipping services.
According to Globe Newswire, the Global Dropshipping Market is estimated to be worth $623 billion by 2028, growing at a 20.6% growth rate (CAGR) over the forecast period.
The data is based on the “Global Dropshipping Market Size, Share & Industry Trends Analysis Report By Product Type, By Regional Outlook and Forecast, 2022 – 2028.”
Increased smartphone penetration and rising consumer disposable income are two of these drivers. In addition, the global dropshipping industry is expected to grow significantly due to the growing adoption of online purchasing and the trend toward cross-border e-commerce trade.
The key market players, according to companies highlighted in the report, are:
- Shopify Inc.
- AliDropship LLC (Sunshine Group)
- Doba, Inc. (Focus Technology Co., Ltd.)
- Megagoods, Inc.
- Modalyst, Inc. (Wix.com Ltd.)
- Printify, Inc.
- SaleHoo Group Limited (Doubledot)
- Sunrise Wholesale Merchandise LLC
Dropshipping is an online retail fulfillment technique in which merchants sell goods to customers and then pass the sales order to a third-party supplier, who delivers the order directly to customers on the merchant’s behalf.
Because dropshipping companies lose some control over the consumer experience, having excellent customer service is critical for retaining customers.