Spocket The Smart Wallet

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There are several factors to consider when you’re running a dropshipping business. You always need to make sure your product has good quality and at the same time make sure that they can be delivered on time. You must also keep track of all orders, adhere to your brand’s identity and develop a marketing strategy.

Whatever dropshipping model you’re following, you need to be sure you have the right resources to keep everything up and running. But suppose you want to optimize your business. You will need to reduce your lead time and shipping times, and make sure your products are high quality. Although it may seem difficult, it is possible.

That’s what Spocket is planning to solve. How is Spocket different from other platforms? Here, you’ll find all the answers you need. We’ll look into its features, prices, and pros and cons. Spocket may be right for you.

Not an avid reader? We got you covered! This video by Knowledge by Marcus on YouTube also explores Spocket’s features. Spocket is a great tool for sharing information.

If you prefer to read, let’s get to it!

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Spocket: A brief overview Spocket The Smart Wallet

Let’s take a look at Spocket before we get into the many features. Spocket is a dropshipping platform launched In 2017. Spocket is a dropshipping platform that was launched in 2017.

Although it is very popular in the USA and Europe, it can be used anywhere. Anyone from anywhere can use this tool to elevate your business. Moreover, it can help you cut down your shipment’s ETA.

But why is it so popular, and how different is it from other platforms?

Spocket allows entrepreneurs to easily collect information with suppliers and customers. With a few clicks, they can sort their list of orders and send it to their fulfillment centers, which is one of the most complex and most complicated aspects of eCommerce.

You can find numerous suppliers on this platform. If you’re not sure about their quality, Spocket allows you to ask for a sample first to check the quality of the product. Some suppliers offer discounts if you purchase a certain amount.

However, not every platform is fit for every type of business. We’re glad you are here to learn if Spocket is right for your business. To help you, let’s look into the key areas Spocket helps your business in the next section.

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How can Spocket help you?

Spocket offers many features. While their services may vary depending on which plan you choose, the starter pack will help you get started with dropshipping.

In the next section, we’ll discuss the features that you can use for each pricing plan. For now, we’ll go over their highlights.

Automated Services

Virtually everything is being digitized. Not only is that more convenient, but it also has less room for error. Spocket provides automated services to assist you not only with your sale, but also with nearly every step of the process. That means your pricing, checkout, fulfillment, and even shipping are all automated!

It is a core function and perhaps the most prominent feature of their products. Why? Because it’s the feature that will make or break your business.

Like any dropshipping platform, they allow you to customize the procedure. They make sure everything is streamlined. Everything is also automated, including order shipping, tracking and coordination of the supplier’s location to fulfillment center.

Don’t worry about losing track of them if you have tons of orders. You will receive an email notification from them when your order has been received by the supplier.

Also, customers are updated and notified as soon as the suppliers release their orders until they are delivered to their doorstep.

Spocket also allows you to define your standard profit rate. Spocket also offers a Mark-Up tool, which allows you to calculate your profit using certain metrics.

Cataloged Products

It can be hard to find the products that you want to market. If you sell multiple products, it can be frustrating to go through each one manually.

Spocket offers a dashboard that makes it easy to order products in just a few clicks.

They also have an expanding product database. Currently, there are already a ton of different products you can sell through this platform. But, they’ve mentioned that they’re still planning to expand. Everything’s categorized, so you won’t have trouble finding what you’re looking for.

However, you should note that most of their products are within the US or Europe. These regions account for approximately 60% of suppliers. If your customers are mainly based in other areas, this may be one of its negative aspects. Although you can still ship them to other countries, your shipping processes and order fulfillment may not be smooth.

However, if your market is within these regions, you’re in luck. There’s a big chance that your customers live nearby those fulfillment centers. This will allow you to track everything between customers and suppliers, while reducing the parcel’s delivery time.

Qualified Suppliers

It can be frustrating to sell a product that doesn’t hold up to its quality. It may look nice in the photo but very different when the customer receives it. Spocket is a difficult process for suppliers.

It is not possible for everyone to just sell their products online. It can be a lengthy process for merchants. So, if you don’t qualify with Spocket’s standards, then you’re out!

First, if you plan to become a supplier on this platform, you have to establish yourself as one. Only legitimate companies can sign-up for this. If you are one, that doesn’t mean you already passed. There’s a lot of verification during the application.

They will be back and forth many times with you. They need to make sure that you meet all of their requirements. They will check your credentials, products’ pricing and quality, their availability, and your supplying capabilities. It’s a lengthy process, but that just means they make sure their marketplace isn’t selling dodgy products.

If you’re a merchant, this should help you feel more confident with their quality. They also included a step to increase merchant security: product samples.

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Product Samples

Buying in blind is risky, despite having a credible supplier. Sometimes, the products they sell are good, but just not what you were expecting. Spocket makes it easy to request a sample from potential suppliers before you make big orders.

Integrations

Spocket has everything you need to manage your dropshipping business. But, not all entrepreneurs want to take it to the next level. Spocket may not allow you to do some things. Or it could be you want to use an additional platform to support your business. Below are the platforms that you can integrate.

  • Shopify
  • Alibaba
  • Wix
  • KMO Shops
  • BigCommerce
  • WooCommerce
  • AliExpress
  • Squarespace
  • Felex
  • Square
  • Ecwid

What is the profit margin?

Drop shipping margins can be anywhere from 15% to 45%. These rates are offered by many companies. Spocket has a 30%-60% profit margin if you want to maximize your revenue. You’ll earn more income every time you place an order as a retailer.

What is the cost?

Sprocket currently offers four pricing plans: The Free Trial (Starter, Pro, or Empire). Let’s take a look at the differences between each plan.

Free Trial

Are you unsure if Spocket is the right fit for your needs? Then you should start off with their 14-day free trial before you commit to a plan. If you are looking to cut costs, it’s a great option. Those free 14 days can come in handy!

Spocket offers a 14-day free trial that allows you to try their standard, enterprise, and pro features. You can use their 24/7 chat support and the AliExpress Dropshipping feature.

Starter

If you are looking to increase your sales, the Starter Plan may be a good choice. At $24.99, you can use 25 products from Spocket and email support.

One of the perks of using this plan is that it allows you to import up to 25 Spocket products. Moreover, you’ll have 24/7 customer support and be subject to complete product orders.

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Pro

If you want to sell beyond 25 products to your eCommerce store, you should upgrade to the Pro plan. You can import up to 250 products into your eCommerce store for as low as $49.99.

You can also get real-time inventory updates and tracking numbers. There are also global pricing rules. They also allow for branded invoices.

Empire

The Empire plan may be the right choice for you if 250 import products are too small for your company. This plan allows you to have as many as 10,000 premium, unique products. This plan is a huge leap from 250 and it’s why it costs $99.99. This is the most expensive option, allowing you to expand your business.

Summary: The Pros and the Cons

Let’s now look at Spocket’s Pros and Cons and see if it’s the right platform for you dropshipping business.

Pros

  • Spocket offers a 14-day free trial.
  • It integrates seamlessly with other platforms
  • Profit margins of 30% to 60%
  • Enables you to request product samples from potential suppliers.
  • Most suppliers are located in Europe and the US.
  • The products are converted into the currency of your store.
  • You can have your own branded invoice
  • Supplier onboarding is rigorous and involves extensive background checks and verification.
  • Updated inventory levels.
  • Provide real-time notifications
  • Through updated inventory management, it will help you sell discontinued products or out-of-stock items.

Cons

  • Shipping outside Europe and the US can take more time and cost more
  • Integration can be limited. Some eCommerce platforms aren’t supported.
  • Product branding and packaging cannot be customized.
  • Suppliers can only be contacted through Spocket.
  • Taxes and duties from customs are not included in the final price.

Is Spocket Right for You? – The Final Verdict

Spocket is an excellent platform for dropshipping businesses. Spocket is ideal for European and American markets. If most of your customers are elsewhere, then there would be other options you can choose from. Spocket The Smart Wallet

Moreover, the integrations are limited. If you’re not using those, you might end up having a hard time. You might have to make some changes. Spocket The Smart Wallet

Spocket is reliable and convenient, even if you consider all the other aspects. Not only that, it has a user-friendly interface. You have access to the tools you need to grow your business.

The best part about Spocket is that they are strict with their suppliers. This means that anyone who has submitted an application can be trusted. Apart from that, you can also ask for suppliers’ samples to make sure their quality is up to par with what they claim.

Spocket is a great choice, especially for dropshipping. Spocket can be integrated with other platforms to make dropshipping easier.

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FAQ Spocket The Smart Wallet

Are there bulk export options?

Yes. Export all orders to a CSV file. You can upload it to your preferred shipping platform.

Are Spocket orders sent directly to my Spocket account or do they go through the other channels?

Yes. They will be sent directly to your account. Every time an order is received by Spocket, you will receive an email notification.

Can I cancel my Spocket account?

It is possible to cancel your subscription at any time. Spocket subscriptions are not subject to monthly contracts.

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