Drop surfing is a relatively new concept in ecommerce that involves monitoring the prices of products across various online marketplaces and then listing them for sale on your own online store at a higher price. The goal of drop surfing is to make a profit on the difference between the purchase price and the selling price.
The term “drop surfing” comes from the practice of dropshipping, which is when a retailer sells products without keeping them in stock. Instead, the retailer purchases the products from a third-party supplier who then ships them directly to the customer. Drop surfing takes this concept a step further by sourcing products from multiple suppliers and monitoring prices to find the best deals.
To start drop surfing, an ecommerce store owner must first identify popular products that are in demand. They then source these products from various suppliers and list them for sale on their website at a higher price than what they paid. The goal is to find a sweet spot where the price is low enough to make a profit, but not too high that it drives customers away.
One of the advantages of drop surfing is that it allows ecommerce store owners to offer a wider variety of products without having to invest in inventory. Additionally, drop surfing allows store owners to adapt quickly to changing market conditions and adjust their pricing accordingly.
However, there are some risks associated with drop surfing. Since the success of the business relies on finding the best deals, there is always the risk of being undercut by other sellers who are also drop surfing. Additionally, relying too heavily on drop surfing can make it difficult to build a loyal customer base since the focus is on finding the best deals rather than providing a unique value proposition.
In conclusion, drop surfing is a relatively new concept in ecommerce that involves sourcing products from multiple suppliers and monitoring prices to find the best deals. While it has the potential to be profitable, it is important to be aware of the risks and ensure that your business model is sustainable in the long term.