What Is High Ticket Dropshipping?
High ticket dropshipping is an online business. It's a way to enter the ecommerce space without a ton of start-up capital. Dropshippers don't need to own or store inventory. Instead, the business model uses third-party suppliers to take care of product quality, packaging, shipping, and delivery of high-end goods directly to the consumer.
Research suggests that the global drop shipping market will reach $243.42 in 2023. But unlike traditional dropshipping, the focus with high tickets is on luxury items. For example, things that cost more than $1000, like saunas and expensive furniture. As a result, dropshippers have fewer customers but can earn bigger profit margins.
High ticket dropshipping as an adjective:
High ticket dropshipping items have the most significant profit margins for an ecommerce expert.
The use of high ticket drop shipping as a noun:
Wayfair sells multiple high ticket dropshipping products under its brand.
High ticket dropshipping used as a verb:
Her business makes remarkable earnings by selling high ticket dropshipping products.
A straightforward definition of high ticket dropshipping is a retail business model that uses third-party suppliers to package and ship products directly to a consumer. Drop shipping is legal, and in 2024, it's a chance to make money online.
Other High Ticket Dropshipping Terms & FAQs
High Ticket Dropshipping Suppliers
High ticket dropshipping suppliers are third-party companies like Brandsgateway, Spocket, and BigBuy who package and ship products directly to customers. A high ticket dropshipping supplier takes care of all order fulfillment. As a result, dropshippers don't need to handle items. Their only job is to provide a high quality product and stellar customer service.
High Ticket Dropshipping Niches
High ticket dropshipping niches sell expensive and luxury items. In 2024 a high ticket dropshipping store in niches like furniture and outdoor equipment can result in successful ecommerce businesses. Another profitable niche is garden and lawn equipment, electronics, and jewelry. The goal is to choose a niche that offers a high ticket item. Then you can make a ton of high ticket sales.
High Ticket Dropshipping Products
High ticket dropshipping products are items that have considerable value. They cost more but are beneficial to the people who buy them. Unlike low-ticket dropshipping products that are purchased on a regular basis, people only buy high ticket dropshipped items when they want them or for a special event.
Is High Ticket Dropshipping Profitable?
Yes, high ticket dropshipping can be very profitable. The key is to find the best products. Things that people want to buy. Then secure a reliable dropshipping supplier who can guarantee high-quality stock and fast shipping times.
High Ticket Vs. Low Ticket Dropshipping
High ticket dropshipping focuses on selling products with a higher price tag (between $1000-$5000+), like luxury furniture or electronics. The high ticket dropshipping model has a higher profit margin but more risk. It gives you more leverage for paid ads. But customer expectations are higher.
On the other hand, low-ticket Shopify dropshipping sells low-end items that are often impulse buys. They include things with a minimal cost, such as toys, sunglasses, or small kitchen appliances.
High Ticket Dropshipping Course
A high ticket dropshipping course like Dropship Lifestyle, eComm Elites, or Shopify Ninja Masterclass is an ultimate guide and a way to learn the business model from an industry expert. You want a coach who is an active dropshipper and offers ongoing support and up-to-date training. They need to be current on trends and be able to show you what mistakes to avoid. How to find the best products, how to set up your dropshipping store, and where to locate reliable suppliers.
What Is Dropshipping?
Dropshipping is a low-cost order fulfillment business model. It's also a chance to own an online business without a lot of capital. True List suggests that ecommerce is said to grow by 17% yearly. But this also means growth for drop shipping. Dropshippers don't own or house inventory.
Instead, they're like a liaison between a potential customer and a third-party wholesaler. A customer orders a product. Then the supplier handles the heavy lifting of packaging, shipping, order fulfillment, and delivery. As a result, the only role of a dropshipper is to sell products people want to buy right now. Provide stellar customer service. Then offer your customers a better shopping experience than the competition.
What Is High Ticket?
A high ticket is something that's expensive. Items with a high price tag and cost a ton of money to purchase. But they're valuable to the people buying them. A high ticket product or service is typically purchased infrequently, like an all-inclusive vacation, a high-end coaching program, or a new car.
What Products Are High Ticket Sales?
High ticket products that things that cost between $1000-$5000. Nerd Wallet reports that 30% of dropshipped goods are electronics. But other popular high ticket products to consider in 2024 include:
Because the price tag is higher, people will comparison shop. They want to make sure they get the best deal. The secret is to build trust. Offer the best customer journey. Don't get into a price war. That's a fast way to the bottom and will limit your margins. Instead, sell a hyper-quality high ticket dropshipping product. Then share social proof and offer buy-now: pay-later or payment options, and you can make money online with your dropshipping business.
How To Find High Ticket Dropshipping Products
To find high-ticket dropshipping products:
- Go to Google Shopping
- Check out Amazon's Best Sellers List
- Look in Facebook Marketplace
- Use a B2B platform like Syncee
1. Go to Google Shopping:
Check out a Google Ad, scroll down to sellers, and search for suppliers. Go on the business owners' websites and find suppliers that offer the best-selling products. Contact them via email and close them on a drop shipping deal.
2. Use Amazon's Best Sellers List:
See what companies supply top products. Do they offer drop shipping? Contact them and ask if you can dropship their products. Then set up a deal and sell the items in your online store.
3. Facebook Marketplace is another channel to source high-ticket products:
Find independent retailers who support drop shipping and cater to the niche and market you want to sell to.
4. Use a site with a product marketplace:
Connect with platforms like SalesSource, SaleHoo, or AutoDS.
Do product research and look for things you can sell for a high profit margin (80%-90%) with an average order value of at least $1000+.
What Are The Best Niches For High Ticket Dropshipping Products?
The best niches for high ticket drop shipping products are consumer electronics, gym equipment, and luxury furniture. Other popular niches in 2024 include:
Target niches with a variety of products. Pick ones that don't have any brand loyalty. Don't choose a niche dominated by big-name players like tablets or iPhones. Then focus on a general target demographic with an upper-middle-class income. Because this demographic is used to spending money online in your price range, it takes less preselling. (As opposed to selling uber-expensive things to the elite or the ultra-rich).
Is High-Ticket Dropshipping Suitable For Beginners?
Yes, high-ticket drop shipping is suitable for beginners if you take the time to learn the business model. Google Trends says searches for the term drop shipping increased 156% from January 2022 to January 2023. Have a $2000-$4000 budget to build a profitable high ticket dropshipping store, and pick your niche wisely. But don't try to sell products to please every person. Instead, do product research. What people are buying now? Is there a luxury item you can dropship that is similar?
Find an expensive product and build a one-page premium store. Locate an independent high-ticket dropshipping supplier. Data states that 84% of ecommerce retailers say the biggest obstacle to starting a drop shipping business is finding a reliable supplier. Use Google Ads or Google Shopping Ads and check out competitors. What keywords they're using? How are they designing a winning ad? Model your paid ad after the top sellers. Then learn everything you can about your ideal customer.
How To Start A High Ticket Dropshipping Business In 2024
- Decide on the niche selection & product for your high ticket drop shipping store
- Find a reliable high-ticket drop shipping supplier
- Choose your ideal high-ticket drop shipping target market
- Design & brand a high-ticket drop shipping store
- Develop a high-ticket drop shipping marketing strategy to advertise your online business
Start with market research and gauge search interest. Use a platform like Google Trend, People Also Ask, or Amazon's Best Sellers list. Go to social shopping sites like Pinterest and Groupon, or Etsy. Or use third-party software like Ahrefs and SEMRush. Check out what's popular. For example;
Next, find products with price points between $2000-$6000. But don't rule out B2B or think you can only focus on B2C products or niches. The key is to avoid a seasonal niche. Instead, find one that's evergreen. Choose a niche that has products that will sell year-round. Look for items with a high order value and low competition (less than 10 other stores selling the same product).
Then focus on quality. With high ticket drop shipping, there's more legwork because the price tag is higher. People have more questions. High-ticket products also mean higher customer expectations. But the higher costs give you leverage to use more paid ads. Then you can get in front of the right people and not dip into your margins.
Before you build your high-ticket dropshipping business, choose your target market. Learn everything you can about their likes and dislikes. What problems do they have? What is their economic status? Where do they live? What do they like to do in their spare time?
The more you know about your ideal customer, the better store you can create and the more succinct you can be in your brand message. Understand their wants and desires. Then tap into buyer psychology and give them value. Show them why your product is the best and how it can make their life better.
To find reliable high-ticket drop shipping suppliers, check out Google Shopping, Wayfair, or Amazon and see where the products listed are manufactured. Reach out to the business and ask if they dropship. You're looking for direct companies that manufacture the products. The goal is to find at least 10-30 suppliers or brands in your niche.
They don't have to sell the same product. But you want them to offer a variation of the product you want to sell. Then you have a ton of variety for product options (a similar item but with various features). But this gives you security in numbers. You don't risk not being able to get products or have issues with supply chain breakdowns. You can also use supplier directories like Spocket, US Direct, and DSers.
Then vet each one. Do they have warehouses in the USA? Are they located in the USA and a US dropshipping supplier? Can they promise fast shipping times? Your high-ticket drop shipping supplier should be able to deliver high-quality merchandise with a decent refund policy and multiple channels for communication.
Your high-ticket drop shipping store needs to look like a legit business. Use professional images and video content to bring your product to life. Keep your color theme simple and congruent. DesignPowers says that 80% is how much color improves brand recognition. Write compelling product descriptions and have a clear call to action. Add social proof like reviews and testimonials. Include self-service options or AI tools like chatbots for ease of use.
Include secure payment gateways and things like after-pay. Then provide a seamless shopping experience for your customer and exceed their expectations. But be consistent. Stay true to your brand on every channel you share your link. Brandly says brand visibility is 3.5Xs higher for consistently presented brands than those without a consistent brand presentation.
To reach the right people advertise on the right channels. Focus on the customer. Develop a marketing strategy that gets in front of a ton of eyeballs. For example, are there online communities you could leverage? What social media platforms does your target audience frequent? Where do they spend their time online?
Share valuable content like FAQs and tutorials on the right social media platforms. Become consumer-centric and lead with value. Post videos on YouTube or TikTok that add value to a person's life. Data reports that 84% of consumers are convinced to buy a product after watching a brand's video. Use paid ads like Google Shopping or Facebook ads to get a few quick wins.
Leverage retargeting methods like email marketing, forms, or popups to entice more subscribers. Studies show that retargeted visitors have a 70% better chance of becoming paying customers. Use FOMO and scarcity tactics. Run a contest or giveaway. Share reviews and social proof on your website and social media profiles. Put the needs of your customer first. Then people trust your drop shipping business and will be more inclined to buy your high ticket products.
What Are The Pros & Risks Of High Ticket Dropshipping?
The Pros Of High Ticket Dropshipping
A pro of high-ticket drop shipping is that it is more niche-specific. So you don't need to be an ecommerce expert to design an effective marketing approach.
Another pro of high-ticket drop shipping is that it's easier to sell one person a higher-priced item than sell cheap items to hundreds of people. You make fewer sales but the same or better profit margins.
A pro of high-ticket drop shipping is that it's less competitive than drop shipping with a low ticket product because it's a more complex business model.
The Risks Of High Ticket Dropshipping
A risk of high-ticket drop shipping is that it can be challenging for beginners, which is one reason why dropshipping is a bad idea if you start with high-ticket products and haven't taken the time to learn and understand the business model.
Another risk of high-ticket drop shipping is higher costs because you need to build a premium website with AI or self-service options.
A risk of high-ticket drop shipping is that you still have no control over fundamental aspects of your business. You're just a liaison between the manufacturer and the consumer.
Why Do So Many People Fail At Dropshipping?
So many people fail at drop shipping because they don't understand marketing or the importance of giving the consumer the best shopping experience possible. Research suggests that only 10%-20% of drop shipping businesses will start generating profits in the first year. People fail at dropshipping because they pick the wrong niche or don't do enough market research. Other reasons people fail at drop shipping include the following:
Check out the top competitors. What are dropshippers using Amazon dropshipping doing? What marketing tactics are other dropshippers in your niche using to get results? Don't copy them. Instead, see what's working. Then access where they're lacking? What can you do better?
What angle or deal can you offer that is more attractive than what is on offer? Focus on being a consumer-centric business. Provide the best customer journey and build an online reputation. Then you have a greater chance at success with high ticket dropshipping in 2024.
3 Tips For Increasing Profits With High Ticket Dropshipping In 2024
Build trust with a potential customer. Every aspect of your website should share a clear message about who you are and what you sell. From your home page and product descriptions to your about and contact page. How your business communicates its message to buyers and the kind of content you share on other channels needs to be consistent.
Keep your message the same. Then focus on the benefits of your product. Share videos and social proof. But be transparent. Research suggests that 94% of people are loyal to a transparent brand. 39% will even change brands in pursuit of brand transparency.
In 2024, it's all about the customer experience. The key is to focus on personalization. Exploding Topics suggests that 60% of consumers will become repeat customers after a personalized shopping experience. Optimize your high ticket store with things like:
Build customer loyalty and consumer trust. 46% of U.S. consumers admit they will pay more for a brand name they trust. So go the extra mile. Follow up with consumers and give them the best customer service. Offer multiple channels of communication. When you put the customer's needs first, people feel heard.
Then they want to buy from your store because they feel valued as a consumer. Add a human touch. Foster emotional connections. SaleForce reveals that 64% of consumers felt an emotional connection to their favorite brands.
Know where your people are spending their time online. 99Firms states that 73% of consumers prefer using multiple channels during their online shopping process. So promote your high ticket store on the right channels. For example, don't waste money on Google Shopping Ads if they're not looking on Google. And don't spend dollars on Facebook ads if your audience doesn't use Facebook.
People who buy high ticket drop shipping products look at more than the price tag. They consider the overall value of the item you're selling. So again, to get their attention, you need to focus on the benefits. Show them how your product can make their life better. But in 2024, high ticket drop shipping is less competitive than low ticket drop shipping. You don't need to undercut the competition to get the sale. But you do need to be ready to test and retest each campaign. See what works and where you need to shift gears.
How Does Local Lead Generation Compare To High Ticket Dropshipping?
High ticket drop shipping and local lead generation are both online business models. They're both a way to make money online without owning inventory or storing physical products. Instead, you're a liaison between a supplier and the consumer. But with high ticket drop shipping, you rely entirely on your supplier. So you have zero control over key aspects of your business. The local lead generation business model gives you full control over every part of your business. You build and rank websites that you own. The idea is to create a website in the right location and offer the right service.
But you own the website, the tracking number, and the leads. Get your sites to the top of the search engines, and they produce leads that you can sell to a local business owner for profits as high as 85%-90%. Because the focus is on the local market, your websites get to the top of the SERPs in as little as 6 weeks - 6 months. Now you own valuable digital real estate in front of people searching for your service. Lead generation is a learned skill set, so there's less competition. But once you understand the process, it's easy to scale and earn a passive income.
