Most of us have heard the term drop shipping, often, especially when it comes to e-commerce businesses and online websites. Dropshipping can be further classified into two simple categories. The first one is high ticket dropshipping, and the second one is low ticket drop shipping.
The two categories are not new in the market. However, many people do not know the true differences and which one is more profitable and lucrative. Therefore, today we will talk more about high ticket dropshipping VS low ticket dropshipping. We will also discuss which method is more lucrative or profitable.
High ticker dropshipping is similar to dropshipping as well. It only means that to sell expensive items and products by keeping a low-price margin. High ticker dropshipping can be beneficial in several ways for the dropshipping business owners and the customers as well.
However, the high ticket drop shipping cannot be managed by everyone especially the beginners drop shippers. Yet most of the people prefer to use the high ticket drop shipping due to more amount of profit earned per sale or product.
Low ticket dropshipping is quite different from high ticket dropshipping. Low ticket dropshipping means selling cheap products by keeping a high price margin. Low ticket dropshipping is easy to handle and is ideal for the new dropshipping businesses.
The low ticket dropshipping is not enough to earn a surplus amount of profit. However, you can earn more if you sell the items and products at a much faster rate. Many people who are new to dropshipping, use the low-ticket dropshipping method. It is because it is much easier to sell products by using the low ticket dropshipping by keeping a higher price margin.
Some several distinctive features and points can be highlighted to differentiate between high ticket dropshipping and low ticket drop shipping. To carry out a dropshipping business, it is not always easier to earn a good amount of money or profit from the very start.
It takes time to reach the level where you start earning an extra amount of money or bonus on your every selling product or item. However, it is much easier and less hectic as compared to owning a store of your own that is not online-based.
With the rising trend of dropshipping business, it has become simpler to stock those products that are needed. It also saves people from buying items either they are cheap or expensive products.
As mentioned earlier, the two extensive types or categories of dropshipping are high ticket dropshipping and low ticket drop shipping.
These two categories have their plus and negative points that help people to deduce which method is more lucrative.
Several factors can be used to identify the vital and highlighting elements from both types of dropshipping strategies. It is high ticket drop shipping and low ticket drop shipping. Hence, some of the most popular and effective comparisons of high ticket drop shipping and low ticket drop shipping are specified below.
· Buyers take much longer to buy
While shopping and scrolling through the dropshipping store, people often take much longer to buy expensive or high-ticket products.
It is because people want to know every little detail of the expensive product into which they are investing their money.
The other distinctive factor that plays a vital role in comparing two of the dropshipping is the quality of the products.
While using high ticket drop shipping, there are much more chances of getting high-end products that are of good quality.
Higher price margin
The essential and most important benefit that most dropshipping business owners get is the higher price margin. With high ticket drop shipping, you can get a higher price margin that is about 80-150%.
Higher risk and more results
It is known that high ticket drop shipping has more risks in the dropshipping business. But it has higher and much better results as well. The higher the risks are, the better and higher chances are to earn a surplus amount of profit.
Impulse buyers and do not take long
While with the low ticket dropshipping, the customers do not take much time to shop from the dropshipping store or online website.
The low prices of the products do not give them any second thoughts and therefore order more products as well.
The low-ticket products are cheap and often have low-quality products as well. The customers who buy and order their products from low-ticket dropshipping often receive low-standard items.
That is why a lot of customers and even dropshipping business owners do not use the low-ticket dropshipping method.
Low price margin
The low ticket dropshipping might have or offer inexpensive and low-quality products. But it does not offer much profit since the low ticker margin does not have a higher price margin. There is much less profit earned on most of the low-ticket drop shipping products when you use the low-ticket dropshipping method.
Fewer risks and lower profits
The low-ticket dropshipping method is associated with fewer risks as compared to the high ticket dropshipping. The prices of low ticket drop shipping are less. But it does not give any authentic guarantee of earning more profit. Hence, the amount of profit earned on the low ticket dropshipping is much less.
The high ticket dropshipping is mostly preferred by a lot of customers and even the dropshipping owners as well. It is because the high ticket drop shipping allows the dropshipping store owners to keep the price margin much higher. There are several advantages of keeping the price margin of the high-end and branded products much higher.
But be certain and mindful enough not to keep the prices of the products even if they are branded or top in quality very expensive and over the bar. It is because doing so might earn you profit but it would then be difficult for the customers to buy and purchase your stocked products. Keeping the price tags very high can also cause your customers to drift away as well.
This business method that is, high ticket drop shipping is much more profitable as compared to the low-ticket dropshipping business method. Yet it is quite difficult to sell high-end and branded products. The high-ticket dropshipping business method does not require starting the sale campaigns or other publicity stunts. Instead, you need to reach out to fewer people by following the right and effective marketing techniques.
It is because targeting even one of the loyal customers for high ticket dropshipping can earn you more profit as compared to 20 low tickets drop shipping customers. Hence, you need to reach the people and target every audience with the right business strategies.
With the use of high ticket drop shipping, there is no need of persuading your customers to buy from you now and then. It is because the high-quality products do satisfy the needs and requirements of the customers much easier and for a longer time.
When people buy or purchase any expensive items and products from your high ticket dropshipping store they take several days to examine their purchase. It is quite normal to expect such behavior from the customers since they are making an expensive purchase. Such a factor can be one reason to expect your customers to change their minds. Therefore, if you fear that your customers might drift away or will not make any expensive purchase quickly then make sure to insert the plus points of that product.
It can be done by answering the basic and important questions regarding high-end and top-quality products. Try to answer their questions on time so that they clear any doubts regarding their expensive purchase. This can be achieved by creating a customer service platform and by providing customer support on the website 24/7.
There are several advantages of high ticket dropshipping. Thereby, some of the most crucial and popular benefits that high ticket drop shipping has to offer are specified below.
You will not have a lot of competitors when you opt for high ticket dropshipping. Therefore, it will be much easier to do your business and sell high-end items as per your price margin.
The dropshipping business does not require you to invest money or stock up your whole inventory. Likewise, a similar rule applies to high ticket drop shipping as well.
You do not have to sell hundred or several products on the daily basis. One expensive purchase can earn you enough profit in the long run.
The above-specified points deduce that high ticket drop shipping is more lucrative than low ticket drop shipping. You can go through the above-specified points to learn more about high-ticket and low-ticket dropshipping business strategies.
Doba.com is a place that you must visit to gather more information about the dropshipping business. You will find all you need to scale your business to new heights from Doba.