How to Make Money on Shopify: 5 Amazing Ideas for 2024 Success

In the ever-expanding realm of eCommerce, Shopify stands out as a beacon of opportunity for aspiring entrepreneurs.

With its robust platform and plethora of tools and resources, Shopify provides the perfect launchpad for individuals looking to carve out their niche and thrive in the digital marketplace.

In this guide, we'll explore various methods to help you understand how to make money on Shopify.

5 Ways to Make Money on Shopify

1. Establish a Shopify Store

Building an online store is the classic approach to making money on Shopify. You can source your own products, manage inventory, and handle fulfillment. Shopify empowers you to build a branded online storefront and cultivate a loyal customer base. Compared to Shopify alternatives, Shopify is the best platform for selling online and making money.

Shopify isn't just a platform for selling; it's a tool for creating captivating online stores. With its extensive theme store offering beautiful and customizable options, you can design a unique look that perfectly reflects your brand. Dive deeper into Shopify's free and paid theme library to find the perfect fit for your store.

Source: Shopify

But that's not all Shopify has to offer. With a vast array of Shopify apps available, you have limitless opportunities to grow your professional store. Navigating through the multitude of available apps can be overwhelming and time-consuming. To assist you on your Shopify-building journey, we've compiled a list of trustworthy apps that are essential for building and developing a successful store:

• Foxify Smart Page Builder: Foxify is an essential Shopify app for creating storefronts that prioritize conversions. With a range of specialized features dedicated to maximizing conversions, this app enables you to enhance your storefront experience and increase your revenue. Learn more about Foxify.

Source: Shopify

• FoxKit- All-in-One Sales Boost App: FoxKit is a comprehensive sales enhancement solution crafted to elevate your store's conversion rate (CR) and average order value (AOV) to new heights. By utilizing FoxKit, you can seamlessly incorporate coveted upsell and cross-sell functionalities into your store, converting casual browsers into eager shoppers and transforming hesitant customers into frequent spenders with ease. Learn more about FoxKit.

Source: Shopify

• Judge.me Review App: Judge.me is the top choice for customer reviews, offering a fast-loading, highly versatile review application available in 38 languages on Shopify. Learn more about Judge.me.

Source: Shopify

• UpPromote - Affiliate marketing: UpPromote is a crucial marketing tool and an indispensable Shopify app engineered to aid you in creating, monitoring, and attaining success with your affiliate marketing endeavors. Learn more about UpPromote.

Source: Shopify

Find out more about other Shopify apps to increase your sales.

Before embarking on your online business journey, it's essential to seek inspiration from other brands for your store. Let's explore some brands that leave a great impression on us:

Missoma

Missoma, a leading Shopify jewelry boutique, merges innovation with enduring sophistication. Celebrated for its unique designs, it creates pieces that go beyond fleeting trends, providing contemporary elegance for those in search of refined, adaptable accessories.

Missoma introduces impressive banner grids, enhancing visual storytelling from the moment visitors land on your homepage.

Source: Missoma

Banner grids exhibit captivating visuals and seamlessly incorporate compelling CTAs, enticing visitors to delve deeper into the store and amplifying their interaction.

Maguire

Maguire stands out as a distinctive Shopify apparel brand, offering a diverse selection of footwear products, and is dedicated to fostering quality, transparency, and fair pricing within the realm of women's shoes.

A notable feature of the Maguire brand is its user-friendly product search function. As customers begin typing, a list of items is promptly suggested, simplifying their browsing experience.

Source: Maguire

Within the product card of these suggestions, customers will find essential details such as available shoe sizes. This intuitive search feature ensures that customers easily find their desired items, facilitating a smooth and efficient shopping journey.

Roughly 30% of shoppers on eCommerce sites use the internal site search function, and individuals who utilize this feature are 2-3 times more likely to make a purchase.

Michael Aram

Renowned as one of the premier Shopify art boutiques, Michael Aram celebrates the fusion of nature and opulence. Founded by the namesake designer, Michael Aram, the brand is esteemed for its exquisite array of home decor, gift selections, and jewelry. Each piece is meticulously handcrafted and infused with whimsical charm.

Source: Michael Aram

Discover the brand's distinctive product quick view feature, providing a delightful user experience. Simply hovering over images on product pages unveils the intricate details of the item without navigating away from the page. This feature enables shoppers to immediately preview key product details and add items to their cart as desired, simplifying the shopping journey.

Explore other successful Shopify stores for further inspiration.

2. Start a Dropshipping Business on Shopify

You can make money on Shopify by dropshipping various products, as it allows you to sell items without holding physical inventory. You partner with a dropshipping supplier who stores, packages, and ships products to your customers directly. This frees up your time and resources to focus on marketing and customer service.

Source: FoxEcom

Dropshipping offers a compelling entry point into the world of eCommerce. But before diving in, it's crucial to equip yourself with the right strategies. Here are 3 actionable tips to jumpstart your dropshipping journey:

• Target a Profitable Niche

To effectively make money on Shopify with dropshipping, it's crucial to target a profitable niche. Don't just chase trends – conduct thorough market research to identify a niche with healthy profit margins. Look for niches with a passionate customer base and a willingness to spend.

Tools like Google Trends and social media listening can reveal trending topics and consumer interests. Explore established dropshipping marketplaces like Spocket to see what products are generating consistent sales. Remember, a niche with high competition might be saturated, so consider striking a balance between profitability and room for growth.

• Start Lean, Scale Smart

Launching a successful dropshipping store to make money on Shopify doesn't require hundreds of products. Begin with a curated selection of high-potential dropshipping products within your chosen niche. This allows you to focus your marketing efforts and resources on a smaller group of items while gauging customer response.

As you gain traction and gather data, you can strategically expand your product offering based on what resonates with your audience. Remember, quality over quantity is key. Choose products that offer a good profit margin and align with your brand identity.

• Partner with Reliable Suppliers

The success of your dropshipping business hinges on reliable dropshipping suppliers. Here's how to spot potential red flags and choose partners who support your growth:

• Shipping Times and Costs: Transparency in shipping is vital. Choose suppliers with clear communication about shipping timelines and costs. Ideally, find suppliers who offer competitive shipping rates and a variety of shipping options to cater to different customer needs.
• Order Processing Speed: A prompt supplier translates to happy customers. Look for suppliers with efficient order processing times to minimize delays between your customer placing an order and receiving it. Consider requesting a test order to gauge their processing speed firsthand.
• Product Quality Control: You may not physically hold the inventory, but your brand reputation hinges on product quality. Look for suppliers with a proven track record of delivering high-quality products. Consider requesting product samples to assess quality before committing to a supplier.
• Communication and Customer Service: A responsive and helpful supplier is invaluable. Choose suppliers who are easily reachable and offer excellent customer service to address any issues that may arise.

3. Engage in Shopify Affiliate Marketing

Engaging in Shopify Affiliate Marketing is an excellent way to use Shopify to make money. The Shopify Affiliate Program encompasses a diverse community of entrepreneurs, educators, influencers, and content creators who inspire and educate their audience on entrepreneurship through Shopify.

Membership in the program is completely free, providing you with the opportunity to monetize your audience and earn commissions for each new Shopify merchant referral.

Source: Shopify

What criteria must you fulfill to submit your application?

To apply, you must:

• Operate and maintain an active website
• Possess a well-established audience
• Produce original content, including online courses, workshops, blog entries, or videos
• Demonstrate familiarity with Shopify or other eCommerce platforms
• Confirm that you have read and consented to the terms of the Shopify Partner Program Agreement

How to promote Shopify’s products and services as a Shopify affiliate

This guide empowers you to effectively promote Shopify's products and services as an affiliate partner, maximizing your earning potential. Here's your roadmap to success:

• Cultivate Your Audience

Attract potential entrepreneurs by creating content on platforms like blogs, YouTube channels, or social media. Target individuals interested in eCommerce, entrepreneurship, or online business.

• Content Creation is Key

Produce valuable content such as blog posts, informative videos, social media updates, or email newsletters that highlight Shopify's value proposition. Showcase how Shopify enables users to build and expand their online businesses.

• Master the Art of Promotion

Seamlessly integrate your unique affiliate link within your content and emphasize the benefits of Shopify in building and growing online ventures.

Bonus Tip: Extend Your Reach (for a fee): Explore paid advertising platforms like Google Ads, Facebook Ads, or Instagram Ads to reach your targeted audience and promote Shopify using your affiliate link, enabling you to monitor conversions and earnings.

• Monitor Your Performance & Scale Up Your Efforts

Use Shopify's affiliate dashboard to track clicks, conversions, and earnings. This data provides valuable insights into your audience's preferences and guides future strategies.

Expand your efforts as your affiliate income grows by creating more valuable content, reaching a wider audience, or strategically implementing additional paid advertising. Remember to continually track and optimize your approach based on data for sustained growth.

4. Offer Print On Demand Products

Selling print-on-demand products is also a popular way to make money on Shopify. This method allows you to sell custom-designed products like t-shirts, mugs, or phone cases without managing inventory. Partner with a print-on-demand service that handles production and fulfillment, letting you focus on design and marketing.

The worldwide print-on-demand market reached a worth of USD 6.5 Billion in 2022 and is forecasted to attain a value of USD 43.4 Billion by 2030, with a Compound Annual Growth Rate (CAGR) of 26.8% from 2023 to 2030.

Explore further to prepare for your print-on-demand (POD) journey:

• Discover the top POD apps
• Launch your own jewelry POD store

Before embarking on your POD venture, it's crucial to begin with research, particularly into trending products for POD. In this section, we'll highlight the top 5 trendy POD products on which you can make money on Shopify. Let's get started!

Apparel POD products

Apparel, particularly clothing, has remained a cornerstone of the print-on-demand market since its inception. The future outlook for apparel is optimistic due to the continuous expansion of demand for these products.

Source: Wander Prints

The increasing prevalence of personalized trends within the fashion industry stands out as the primary driver shaping the growth of the global print-on-demand market. Businesses are increasingly turning to personalized t-shirts as a strategic branding tool for their products and services. This approach is particularly favored by startups aiming to boost brand awareness and attract potential customers.

By incorporating their logo or company name onto t-shirts, businesses can effortlessly convey their brand message. Wherever the wearer goes, the brand displayed on the t-shirt captures valuable attention, effectively enhancing the company's brand visibility.

Pet POD products

It's remarkable that in 2022, people in the US dedicated a staggering $136.8 billion to their pets, as reported by APPA. This represents a $13 billion increase compared to the previous year. With the pet market experiencing rapid growth, now is an opportune time to launch print-on-demand campaigns catering to pet owners.

Source: Printy Pets

Consider exploring popular pet POD products for 2024, such as pet beds, collars and tags, pet blankets, harnesses, and leashes. These items are in high demand and present promising opportunities for success in the print-on-demand market.

Home Decor POD products

Based on research from the Global Online Home Decor industry, it is projected that this market will experience a Compound Annual Growth Rate (CAGR) of 21.2%, reaching a value of $612.5 billion by 2030. In the realm of print-on-demand, consumers show a preference for premium products like home textiles, flooring, wall decor, and lighting.

Source: Gifts Shack

Various niches within this market present significant opportunities for entrepreneurs. These niches can include coffee mugs, canvases and posters, wall art, prints, candles, and pillows and blankets. Exploring these niches can lead to promising ventures in the print-on-demand sector.

Tech Accessories POD products

Analysts predict that the worldwide market for mobile phone accessories could expand from $85 billion in 2022 to $120.4 billion by 2028, as reported by Imarc. Consider exploring opportunities to sell print-on-demand tech accessories, such as phone cases, AirPod cases, laptop accessories, and mousepads.

Source: Turned Yellow

Jewelry POD products

In 2023, the global jewelry market is estimated to be valued at $298.4 billion, according to Statista. It is projected that 88% of sales in this market will be from non-luxury items. The increasing popularity of personalization trends, combined with the widespread availability of print-on-demand services, suggests a shift towards affordable and accessible offerings dominating the market.

Source: Wander Prints

Consider focusing on bracelets and necklaces as excellent options for offering jewelry POD products.

5. Develop Shopify Applications

If you possess coding skills, consider developing and selling apps on the Shopify App Store. These apps can cater to a variety of needs, from marketing automation to inventory management, providing valuable solutions to other Shopify merchants.

Source: Shopify

If you're keen on delving into Shopify app development as a strategy to make money on Shopify, here are some steps you can follow:

• Master the Shopify API

As the backbone of Shopify app development, understanding the Shopify API is essential. Dive into the plethora of resources provided by Shopify, including tutorials, documentation, and sample code. Familiarize yourself with its intricacies to lay a solid foundation for your app-building endeavor.

• Choose your Development Environment

Shopify caters to a diverse range of development environments, from Ruby on Rails to Node.js and PHP. Select an environment that aligns with your skillset and offers robust support for Shopify app development. This choice will greatly influence the ease and efficiency of your development process.

• Craft your Masterpiece

With your development environment set up, it's time to bring your app to life. Leverage the wealth of resources provided by Shopify, including tutorials, documentation, and sample code, to guide you through the development process. Whether you're creating a game-changing eCommerce tool or a seamless integration, let your creativity and expertise shine.

• Test and Launch with Confidence

Before unleashing your app into the world, ensure it's polished to perfection. Thoroughly test every aspect to guarantee functionality and reliability. Utilize Shopify's resources to streamline this process:

• Shopify Academy: This comprehensive learning platform offers courses specifically designed to guide aspiring app developers. Learn best practices for building Shopify apps, explore the Shopify App architecture, and gain valuable insights from industry experts.
• Shopify Resources: The Shopify developer documentation is a treasure trove of information. Find detailed guides, code examples, and troubleshooting tips to address any technical challenges you encounter during development.
• Shopify Community: Connect with a vibrant community of Shopify developers and experts. Engage in discussions, ask questions, and gain valuable feedback on your app before submitting it to the App Store.

Wrapping up

Shopify presents a world of opportunities and offers a solid foundation for aspiring entrepreneurs to make money in the eCommerce landscape.

From establishing a Shopify store, engaging in dropshipping, participating in affiliate marketing, to offering print-on-demand products, and even developing applications, there are multiple ways to use Shopify to make money. By leveraging these strategies and continually adapting to market trends, entrepreneurs can unlock their full potential and thrive in the dynamic digital marketplace.

Whether you're a seasoned entrepreneur or just starting out, Shopify provides the tools and support needed to turn your business dreams into reality. So, dive in, explore, and embark on your journey to success with Shopify today!