B2B Fashion Marketplace Starting Dropshipping

B2B fashion marketplace FashionGo will launch an automated payment service next year designed to help retailers speed up order processing and fulfillment.

As Tamebay reported on Monday (15 November), a service called FashionGo Dropshipping could integrate with users’ Shopify stores. It will be free to all new and registered buyers, and open to interested vendors.

“We are excited to expand our offering to include FashionGo Dropshipping, a service that will provide buyers and vendors both large and small [with] new opportunities in the fast-growing retail industry,” said Paul Lee, CEO of NHN Global, parent of FashionGo. “The need for a convenient and reliable dropshipping platform has never been clearer, and by leveraging our credible platform with state-of-the-art technology, we aim to create a frictionless environment for users.”

Due to launch in January 2022, FashionGo Dropshipping will join US vendors with inventory available and ready to process and ship within a week.

The company says that with its dropshipping service, shoppers won’t have to acquire, store, or manage product inventory, and they will have the leverage to scale their business and adapt to consumer trends in an age of late deliveries and low inventory counts.

Read more: B2B Fashion Marketplace Reaches New Sales With Virtual Trade Show

PYMNTS spoke with Lee earlier this year in a report on the B2B fashion sector and the rise of virtual trade shows. At the time, FashionGo had just hosted its second virtual FashionGo Week, where vendors and shoppers could connect directly online.

“Many retailers are switching and growing their online presence for obvious reasons and investing in their online sales,” said Lee. “And I would say some of our retailers that have online storefronts have only enjoyed record sales during the peak season since September 20.”

Speaking to Karen Webster of PYMNTS, Lee said there is room for a new hybrid model that turns a brick-and-mortar trade show into a virtual event. It provides a cost-effective and efficient way for 1,400 corporate brands or vendors and over 756,000 registered retailers to connect and do business.

“From a time commitment point of view, there are only so many vendors and brands you would promise [at a physical trade show], said Lee. “But the virtual options are basically limitless in terms of interactions to browse or buy merchandise.”