Iceland is located in the westernmost part of Europe, and this is one such country that doesn't share borders with any country. Surrounding it are the Atlantic and the Greenland sea. As the country is located in the midday between North America and Europe, there are plenty of opportunities for trade and business.
The Icelandic economy is diversified into the manufacturing and service industries. With a revenue of US$262 million in 2020, there is a large market for ecommerce Furthermore, the Icelandic ecommerce market contributed to the worldwide growth rate of 29% in 2020.
With such a favorable marketing condition, there cannot be a better time to invest in the ecommerce market of Iceland, especially the dropshipping business. The online penetration of Iceland is more than 57%, which means more and more people are opting for online shopping every day. Some other reasons why you should start a dropshipping business in Iceland are:
Over the years, Iceland has made some noticeable improvements in the eCommerce business. The Icelandic population is in search of better and quality products and that’s why dropshipping business models has a good scope here.
The business environment of Iceland is so favorable that investors from all across the globe are excited about the unlimited business opportunities. The efficiency within the European legislative Framework makes it more advantageous for new dropshippers. No long waits associated with paper-work approvals and the personnels will be more than willing to help you start the business.
For dropshipping entrepreneurs, there isn't a better place than Iceland. The availability of some of the best dropshipping service providers like dropshippingXL makes it super easy to work in Iceland. If you are setting up a dropshipping store in Iceland, you do not have to worry about product availability and shipping in distant corners of the country.
The government of Iceland has been effective in making sure that the business environment is efficient, fair, and competitive. Most of the new direct investment projects are eligible for the regional incentive also. The Icelandic government has kept the corporate taxes subtle in order to gather more foreign investment. The corporate tax is 24%, which is not as high as in some other countries in Europe.
Iceland is a country with an extremely cold climate. So, when you start a dropshipping store, keep the weather aspect in mind. dropshippingXL by vidaXL has a wide range of products to suit the specific requirements of Icelandic consumers. Some of the top-selling products in Iceland are:
⦁ Electric Fireplaces
⦁ Electric Barbeque Grill
⦁ Pet and animal supplies
⦁ hardware accessories
⦁ Home decoration products
⦁ Sporting Goods
⦁ Industrial supplies
For those who are looking forward to starting a dropshipping business in Iceland, dropshippingXL is their one-stop solution. Along with the access of over 50,000 products, you also get 24*7 customer service. Besides, you do not have to worry about intensive inventory management, order processing, warehousing, and free shipping.