Shopify is home to hundreds of app entrepreneurs who are also working on their business. HulkApps is a platform that aims to connect merchants with Shopify. We offer seamless support for any Shopify App, so you don’t have to fight alone.
Our Shopify experts can help you configure the Beardsy Hair Care Dropshipper to your Shopify store. Shopify’s team of experts can create new apps and set up existing apps to help you make your website a machine.
Install app safely
Shopify themes can be integrated
Configurations and setup
Troubleshoot and Fix Problems
Support provided by a dedicated team
What is not included
Beardsy: Dropshipper Cost for Hair Care
HulkApps experts can help you find a solution that works for you, and also provides value to your customers. It can be challenging to add or expand functionality to Shopify stores. However, HulkApps experts can help you make it happen according to your needs.
Dropship hair extensions: Why? Is the Hair Extension Niche Worth It?
Research shows that the global market for hair extensions and wigs was $5.96 billion in 2017. It is projected to grow at a rate of 9% over the next decade, reaching $10 billion by 2023. This is due to the increasing hair loss rates and the rising popularity of personal beauty products. The growing awareness of harmful hair chemical. Hair wigs and extensions are a profitable and long-lasting dropshipping niche.
More specifically, studies have shown that 40% people experience visible hair loss between the ages of 35 and 40. This percentage rises to more than 65% by the time you reach 60. A further 47% of people suffering from hair loss are prepared to risk their lives savings to get a full head of natural hair.
Hair products are the second-largest industry in personal beauty, after skincare. They account for 21% the total shared revenue.
The global market for hair extensions and wigs was 63% in 2020 thanks to dropshipping and online eCommerce.
COVID-19 also makes it more difficult for people to get their hair done. This increases the demand for hair extensions and wigs.
Another interesting statistic is the constant 165,000 monthly search volume for “hair extensions” in the US, which further shows the high demand for dropshipping.
How much can you make dropshipping hair extensions?
It’s time to answer the most important question before you jump into dropshipping hair extensions.
Let’s start by looking at Luxy hair, a highly successful eCommerce and dropshipping company that sells hair extensions.
The owners claim that they make seven figures annually from organic traffic to only their YouTube channel, which was launched in 2010 and has more than 3 million subscribers. The products are carefully sourced from Amazon and other top-quality suppliers.
Let’s now look at some concrete numbers.
An average retail order for hair extensions is $195. The general ROI (Return on Investment) is between 50% to 100% . This means that you can earn anywhere from $65 to $97.5 per sale.
Let’s say you have 100,000 monthly visitors to your store. The conversion rate is 1%. Your monthly profit would equal 100,000 * 1% * [$65, $97.5] = [$65,000 to $975,000]. Thus, you could make $780,000-$1,170,000/year.
It’s possible to make millions by drop shipping in the hair extensions niche, as you can see.
Dropshipping Hair Extensions: Advantages and Disadvantages
Here are some benefits to selling hair extensions
- Highly Profitable: The hair extension market is large and has a high profit margin, as we have seen in this article.
- It’s easy to promote: Facebook, Pinterest, Instagram and TikTok all have large, active niche audiences. You can also target a variety of ad interests that are related to hair extension for your advertising campaigns.
- It’s easy to cross-sell or upsell hair extensions.
There are also drawbacks to dropshipping:
- Super competitive: There’s always money and there’s always competition.
- High Return Rates They are very likely to return the products.
- Problems with Payment Processors: Hair extensions are a high-risk payment service because of their high return rates and vulnerability for fraud.
- Troubles with Customer Service: You would struggle to respond to customer inquiries if you didn’t know much about the topic.