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One of the unspoken rules in business calls for always staying on top of your expenses and constantly regulating your products' prices and keeping an eye on online price competitors. After all, if you don’t closely monitor the financial situation of your dropshipping business, you expose yourself to great risks and inconveniences that can easily lead to your store’s doom. In order to avoid undergoing such issues, it’s crucial to make time to establish the markup and margin of your products, taking into account the fact that they play a significant role in controlling your dropshipping store’s current and future incomes and helping you in increasing your sales.  Despite being used with a similar purpose, the product markup and margin are two completely different business measurements many entrepreneurs, especially beginners in retail, often mix up and can’t get a grasp on what is what. In order to put an end to all of that confusion, we’ve taken the initiative to create a comparison of these two terms that’ll assist you in clearly distinguishing between them. In the following paragraphs, you’ll have the opportunity to read about comprehensive definitions, learn about calculating methods, and inform yourself about the importance of setting up the markups and margins of your merchandise.

As the eCommerce industry has been taking over the globe at full speed, billions of businesses have been following in its footsteps, switching from executing functions while being physically present at their workplace to a convenient online work mode. The reasons behind this unanticipated fast change are numerous, to which we can add the vast development of the digital world, causing things in the eCommerce retail section to really start evolving abruptly without any warning. You can learn further about this by checking out these dropshipping statistics. Once modifications started taking place, entrepreneurs quickly began altering their business plans so that they’d allow them to do their jobs remotely while still enabling them to accomplish their tasks and reach their targets efficiently. One such business model that has been turning heads for quite some time now is the dropshipping method, both the traditional and reverse dropshipping form. Despite the excellent reputation dropshipping is enjoying, there’s still one question that has made people feel suspicious and insecure about launching a dropshipping store: is dropshipping worth it? So, in order to put your minds to rest, we’ve gathered a few facts that illustrate this model’s profitability and have supplied you with a couple of statistics to support our points of view, as well as a detailed clarification of what is dropshipping. 

“Being properly prepared is one of the biggest assets in business,’’ claims Keeth Smith, words that’ll keep on ringing true for eternity. In the eCommerce industry, such as the dropshipping sector, this motivational quote particularly highlights the importance of organizing your next steps and managing your store in an efficient way. However, in order to successfully accomplish this, there are a few things dropshippers and other eCommerce owners are bound to pay attention to. This article focuses on two acronyms many are likely to have heard about but up until now couldn't wrap their heads around their purpose and meaning. We are talking about the terms SKU and UPC. Most sellers are aware that these two names have a massive role in product tracking but only a handful of them truly understand why are they so significant for their businesses. In the following sections, we’ll be “dissecting’’ this subject thoroughly, delivering you rigorous definitions and accurate examples, and bestowing you with simple clarifications on why you need to use them in your dropshipping store.