Shopify Dropshipping updates in 2023 to look out forMar 24, 2023
Shopify is currently making numerous significant changes that could potentially alter the outlook of how we perceive e-commerce and dropshipping indefinitely. If you fail to keep up with these changes happening in 2023, you run the risk of putting your business in danger of failing or not seeing the desired results. Therefore, today I want to discuss these changes and share my strategy on how I plan to overcome and stay ahead of the trends. My goal is to remain profitable with my dropshipping and e-commerce stores and continue to experience growth while the other 99 percent may fall behind.
Update #1 : Shopify prices are shooting up
Shopify, recently announced that they will be increasing their prices starting in April. With the basic plan going up from $29 to $39 per month, the medium plan from $79 to $105, and the advanced plan from $299 to $399. This means that dropshipping will become more challenging for the average person, as barriers to entry increase. Shopify is responsible for 10% of all e-commerce, giving them significant leverage.
To compensate for the price increase, Shopify is launching a one-page checkout to improve conversion rates. This service yields a 72% increase in conversions above a typical checkout and a 91% increase on mobile. The one-page checkout was previously only available on Shopify's plus plan, which costs $2,000 per month, but it is now available to all merchants for free. Implementing the one-page checkout could increase your store's conversion rate from 3% to 5%, which is a game-changer.
The price increase and the introduction of the one-page checkout are significant changes that could permanently alter the outlook on e-commerce and dropshipping. It's important to stay ahead of these changes and use the right strategies to remain profitable and see continued growth.
Update #2 : TikTok may be breathing its last breaths
The second major change that I'm observing in the e-commerce industry is the potential ban of TikTok. As you may already know, I have had some issues with TikTok in the past and was banned from the platform. However, I still recognize it as a great marketing tool because it has the ability to grab the attention of a large audience. Recently, the US government has classified TikTok as a national security threat. As a result, several states such as Texas, Florida, New Jersey, and Georgia have banned TikTok on government-issued devices. Although this has not yet impacted consumers directly, there is a possibility that it may be banned on everyday devices that the average American uses.
Therefore, my advice would be to take advantage of TikTok while you still can. It can serve as a viable alternative to Facebook, especially during the iOS 14 updates and changes. However, TikTok's future is not looking promising in the US. Hence, it would be best to build your social profiles and get as much social proof and data as you can at a low cost. This way, when TikTok is eventually banned, you would have already established a customer base and data to build a sustainable business on the back end. Therefore, it is essential to act now and make the most of TikTok before it's too late.
Update #3 : AI is taking over the world
The last major change that I see making an impact on the Drop Shipping e-commerce industry is AI. A few weeks ago, I experimented with AI tools like Dally and Chat GPT, and now, many people are starting agencies that use AI for copywriting and filling out web designs. Chat GPT is doing well for many people, and it's important to familiarize yourself with AI and how it can benefit your business. By using AI, you can alleviate a lot of startup stress and delegate tasks that would have otherwise gone to yourself or a virtual assistant. Instead, AI can get things done in just five minutes. This helps you to be more efficient in your Drop Shipping business and get results faster. Remember, speed is everything!
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