Do you have a passion for fashion products and accessories or are just looking for a lucrative, yet affordable way to start a business? Well, Wholesalehandbags and fashion accessories are the way to go in 2022. Valued at USD 47.0 billion back in 2018, this industry has grown steadily over the years.
The Compound annual growth rate (CAGR) for this industry is projected to increase by 11.09% by the year 2015. Such projections make wholesale handbags and accessories some of the most lucrative market segments in fashion eCommerce
Those projections actually make bags and accessories one of the healthiest segments of eCommerce fashion, despite its absolute numbers being the smallest. As a beginner, it is highly advisable to start with such a predictable niche for your dropshipping business.
In this guide, we will take you through the six main steps you should take to establish a successful handbag dropshipping business.
目录
Step 1: Research the Wholesale Handbags Market Thoroughly
Having figured out what you want to sell on your eCommerce store, the next step is to try and learn important market metrics. To make the most out of the handbags and purse market, here are some of the things you should seek to understand:
What Are The Advantages of the Wholesale Handbags Market?
As a handbags retailer, sourcing your products in bulk has a lot of benefits to offer your business. To begin with, bulk buying attracts a lower “per-piece” price, almost always. This, in turn, offers you a better profit margin.
Additionally, it makes it possible for you to price your handbags below your competitors’ price points. When ordering in bulk, you will also be able to negotiate with the supplier for better terms and discounts.
Currently Trending Wholesale Handbags and Purses for Dropshipping
If you are just starting, it is advisable to focus your attention on items that are already in demand. To find the trending women’s handbag products, you need to consider such metrics as the number of orders in the recent past and customer reviews.
We strongly advise you to start with the cheaper, yet trendy handbags and purses. To help you get started, here are the in-demand products you should consider offering:
a.Geometric Tote Handbag 5Pc Set
As of 2018, Tote bags accounted for about 41.7% of the revenue generated by the sale of handbags and purses globally. The demand for such bags has increased since then as more women look for larger, yet elegant bags to carry their stuff.
Geometric Tote handbags come in different materials, ranging from recycled textiles to leather. The 5pcs set includes the Tote bag, a shoulder bag, a wallet, a crossbody bag, and a clutch bag. With these bags, you can offer your customers more storage space in a compact, versatile, and beautiful option.
b. Clutch Wallet and purse
The design of purses and wallets eliminates handles and straps, making them a preferred compact storage option. These come in multiple styles and configuration options, including traditional Pouches and clutches, Box Clutch, envelope clutches, Kiss Lock Clutch, wristlets, and bracelet bags.
This means that you can offer your customers a more diverse range of the same product.
c. 3D Unicorn Print Backpack Drawstring Bag
More consumers prefer this bag due to its large capacity, lightweight, and easy storage. It is also durable and reusable, making it the bag of choice for environmentally-conscious buyers. The bag comes in several color and print options.
With this handbag, you will have a choice of more than 11 bag colors and styles to offer on your online store.
d. Metal Chain Drawstring Shoulder Bag Evening Party Tote Bags for Women
This is a smaller and more precise version of the Tote bag. Most of these bags have a soft woolen outside and a bucket shape finish. Though smaller, an increasing number of consumers find it ideal for their daily activities.
This bag will make your customers cool when carrying it to work and on many other occasions.
e. Lady Shoulder Messenger Mini Bag
Ideal for women looking for a larger and more practical shoulder bag. Regardless of the brand, Messenger mini bags are big enough to fit a laptop alongside other personal effects. Despite the large capacity, you will find the bag to be slim and elegant for everyday use.
These bags are also availed in a myriad of material, color, and design options to suit different consumer preferences.
Step 2: Choosing a Reliable wholesale handbags Supplier
As a wholesale handbag drop shipper, you only need to list the handbags on your eCommerce store and market them effectively. It is your dropshipping supplier that handles the shipping and delivery end of your business. This being the case, your choice of a dropshipping supplier can affect the reputation and even the success of your online store.
Before making this critical choice, you need to consider such things as the suppliers’ reputation and reliability based on reviews left by their previous customers. You also need to consider the product quality, pricing, and delivery time.
Who are the Leading Handbag Wholesale Suppliers?
There is no denying that China is the leading manufacturer/supplier of many items, including handbags. As a matter of fact, about 99% of the handbags available globally are manufactured in China. This makes it a great place to shop for your merchandise. Handbags manufactured in China are in high demand in North America, Western Europe, the Middle East, and several other regions.
Consumers prefer these handbags as they offer the perfect blend of quality, durability, and affordability. Even so, you should only offer the products that are in high demand in your store.
With such considerations in mind, here are the top 20 dropshipping Sourcing and Fulfillment suppliers and companies for handbags and purses:
· Baggg.com
· BrandsGateway
· AzureGreen
· Tmart
· DHgate
· AliExpress
· SaleHoo
· Doba
· Oberlo
· Nordstorm
· Wholesale Central
· Selini New York
· Save the Girls
· Top Trenz
· FashionTIY
· Benjamin International
· BuyMerchant
· Jillian Distributors
Step 3: Build Your Online Wholesale Handbags Dropshipping Store
Now that you have decided on a niche market and have found a suitable supplier, you need a front to sell the handbags. To sell handbags and purses online, you need to open a store on one of the leading eCommerce platforms, such as Shopify.
Dropshipping on Shopify allows you to sell without having to buy and warehouse the inventory. The store is where you will be sending traffic, selling handbags, and accepting payments. Shopify has made it very easy for you to set up an online store.
Shopify will equip you with all the tools you need and guide you throughout the process. They even offer free themes that you can use to customize your store. With Shopify, you won’t need any developer skills to open and customize an eCommerce handbags store.
Step 4: Begin to Market Your Wholesale Handbags Dropshipping Store
One of the mistakes you can make as a drop shipper is to expect the handbags to market themselves. You need to find the most effective ways to draw potential customers to your store. The effectiveness of your marketing strategy will directly affect your sales and the overall success of the business.
Different methods may be used to advertise eCommerce products—all of which have varying degrees of success. Find the methods that work the best for your handbags business and reach the right audience. Some of the advertising methods that have been proven to work for dropshipping businesses include:
· Paid Advertisements (Both Google and Facebook ads)
· Content Marketing
· Influencer Marketing
You need to choose the best advertisement method(s) for your business—often depending on your location and target market. Just focus your attention on the methods that bring in more customers to your store. Thereafter, you need to invest more time and money to market your store and products.
The amount of effort spent marketing dropshipping products is often proportional to the sales—as long as you are using the right marketing strategies.
Step 5: Fulfill Your Orders Through Your Wholesale Handbags Suppliers
Once your customers have placed orders on your Shopify handbags store, it is your obligation to review the orders and deliver the items in the shortest period possible. In the world of dropshipping, this is referred to as order fulfillment.
Order fulfillment on Shopify often involves the following:
· Sourcing the ordered items on sites like AliExpress or ordering through a professional fulfillment agent
· Picking and packaging of the handbag(s)
· Labeling each of the products in readiness for shipment
· Shipping the products using the right carrier service
While a few suppliers on AliExpress can take care of these steps on your behalf, ordering through a third-party fulfillment agent will give you peace of mind. At a very low service fee, Best Fulfill dropshipping sourcing and fulfillment agents will get you what you need in time.
Our skilled and experienced agents will handle every step of the fulfillment process, right from sourcing and quality inspection to branding, package customization, and shipping. We are your representatives on the ground—to ensure that the handbags you ordered are precisely what the manufacturer claims them to be.
In this regard, we make your sourcing easier, faster, and satisfactory for you and your customers. To order handbags and purses through Best Fulfill, you only need to:
· Give us products specifications for the items your customers have ordered, including order quantity, quality, and shipping address(s).
· When ordering in bulk, you could connect your online handbags store to our ERP system through our innovative mobile app. Alternatively, you could just send us the order details in the form of a .XLSX or .CSV file.
We will then source the right products at the best price points on behalf of your business. We will then ship them to the provided customers shipping addresses on time.
Step 6: Analyze and Optimize Your Wholesale Handbags Dropshipping Store
After operating your handbag dropshipping business for a while, you need to look back and see whether your effort is paying off. In this regard, you need to understand which onsite strategies, offers, and campaigns produced the best results on your eCommerce store.
E-commerce store analysis should test your wholesale handbags dropshipping store performance in the recent past. The objective here is to improve customer experience, increase sales, and ultimately boost your revenue.
To begin with, you could use the Shopify Analytics platforms to analyze recent activities on your store. This platform will help you analyze shopper behavior, sales, and profit margins in your store. You may also use other tools to analyze your online store, such as Google Data Studio, session recording apps, and Heatmaps.
Your handbags dropshipping store analysis should focus on such metrics as:
· Scales
· Shopper behavior
· Profit margins
· Traffic exit rates
· Bounce rates
· The average order value (AOV)
As opposed to traditional eCommerce analytics, a comprehensive user-driven analysis of your store will give you the full picture. It will help you understand what you have been doing right and where you have been failing.
Based on the results you get, you need to make the appropriate changes and optimize your store. These will help better its performance and increase your revenue in the long run.
Conclusion
If you are committed to starting an online business, you should try dropshipping Wholesale handbags and purses. Provided you know how to go about it, you can establish an income stream selling handbags online without having to warehouse and manage the inventory.
Secondly, you should carry out thorough research of the market to gain a better understanding of the products, your customers, and your competitors. You should then proceed to find the most appropriate supplier for the handbags you wish to offer on your online store.
Once you are ready, open an online store—preferably on Shopify—and market your products effectively. Finally, you should take time to analyze the performance of your store every once in a while and optimize it accordingly.