The ecommerce business trend is growing rapidly. If we look at the Global statistics, the number of global digital buyers will be more than 2.14 billion by the end of 2021 (It is about 30% of the world's entire population).
As an entrepreneur, if you want to join the ecommerce market of Ukraine, this could be the right time for you. According to Ukrainworld.org. Ukrainians are increasingly willing to buy goods and services online. On Black Friday 2019, customers of PrivatBank, Ukraine's largest retail bank with 23 million clients, made 4.5 million purchases online worth UAH 1.3 billion (USD 46 million).
The lockdown of 2020, added to these stats and many people tried online shopping for the first time. With these stats, one thing is sure that Ukraine has a good number of people shopping online and they are in search of some high-quality products.
The success of your dropshipping store widely depends upon the products that you list on your web store. VidaXL has its own in-house production. Besides, it imports products from a large number of vendors, which means a complete access to more than 50,000 products.
Some of the high-selling products in Ukraine are:
· Living Room Furniture
· Home Décor Products
· Fitness Accessories
· Pet Supplies
· Sports Equipment
· Business and Industrial products
According to a survey in 2020, the contribution of Ukraine's E-commerce market into the global market was more than 29%. This figure is expected to rise by 14% by 2024, which indicates how good Ukrainian ecommerce is going to be in the coming years.
For entrepreneurs, opening a dropshipping store is one of the best choices. You can set up a dropshipping store with minimum upfront investment and expect huge profit margins. If you are yet not convinced, here are some sold reasons to start a dropshipping business in Ukraine:
With dropshipping, you do not have to bear the burden of manufacturing or maintaining inventory. Besides, you have the complete liberty to select the products and set your own profit margin. Follow a good marketing strategy, list popular and high-ticket products and you can expect some good returns.
Dropshipping in Ukraine could not have been easier than this. With access to smartphones and good-speed internet, you can dropship from any corner of Ukraine. There are trusted payment gateways, excellent shipping services, and best dropshipping providers.
For the success of your dropshipping store, it is very important to collaborate with the reliable dropshipping service provider. Availability of some of the top dropshipping service providers in Ukraine has made it easier to manage product listing and shipping.
Service providers like dropshippingXL make sure that you do not have to worry about intensive inventory management, warehousing, and order processing.
In the third quarter of last year, more than 33% of Ukrainian internet users shopped online and this percentage is about to increase by 42%. This means that if you are planning to start a dropshipping business in Ukraine, you are going to target more than 11 million people.
Price and trust are the two main determinants while focusing on the Ukrainian market. If you want to be successful, you will have to maintain trust among customers and list your products with genuine prices.
The consumers of Ukraine are very curious about products coming from western borders. Make sure you understand their requirements before formulating a strategy.