E-commerce business attracts many entrepreneurs ready to shift their focus from creating a physical store to starting an online business. The rise in digital retail sales (45.8% increase in 2 years) is due to the varied ventures possible in the e-commerce industry.
Though many business owners have the skills, money, and resources to plunge into the digital market, the only thing they can’t pinpoint is to finalize the e-commerce business idea that they wish to implement.
Read: B2B Vs. B2C e-Commerce: Understanding the Difference
When there are limited choices, it becomes an easy selection, but when there are innumerable choices for selection, the selection becomes a bit difficult since entrepreneurs are confused as to what to choose and how to commence.
● How do you decide which one is ideal?
● Should online advice be considered?
● Should I follow my passion and select?
● How do I checkout on the idea which will reap better profits?
There are hundreds of questions that come to the mind of an entrepreneur willing to set up his business.
The E-commerce industry has ample opportunities which you can consider to set up your business from any part of the world. Though the global pandemic (Covid-19) has affected the e-commerce sector too, certain businesses have bloomed in the pandemic, while some have been doomed.
Let me help you with some blooming e-commerce business ideas which you can try.
Profitable E-commerce Business Ideas
#1. Create a Niche Apparel Product
E-commerce niche can help you become rich if you choose the correct product. Multiple niches (unique segments of an industry left unexplored) like handmade crafts, pet food, beauty accessories, trendy apparel, or other trending products can be considered.
If you have a knack for apparel, you can easily set up an e-commerce website that offers niche apparel products or other branded merchandise to your customers.
They may include customized apparel, printed slogans on t-shirts based on demand, etc. Rather than spending on inventory, you can tie up with an apparel brand and be a partner. You can get orders, and your partner can create the apparel and ship it.
The apparel market is always growing, and hence you needn’t worry about the closure of the same. Consumer Market Outlook Statistics indicate that the global apparel market revenue is expected to rise from $1.46 trillion in 2020 to roughly $2.25 trillion by 2025.
#2. Sell Industrial B2B Products with Little Competition
Think out of the box to stand out in the digital world. Business owners usually focus on B2C (Business-to-Customer) for business, whereas you can shift your focus to B2B (Business-to-Business). Explore the B2B market for your new venture.
For a profitable start-up e-commerce venture, you can sell B2B products to varied companies as a part of your business. In short, the business happens between two companies rather than between a company and an individual.
#3. Growth in B2B Sales
The pandemic situation has led to a boost in B2B sales predicted by the Gartner Future of Sales 2025 Report, wherein 80% of the B2B interactions occur on digital platforms. Offering B2B products is less demanding since the B2B market is quite small, but it often reaps ample benefits.
#4. Do what Amazon Can’t
Scared of the e-commerce giants like Amazon, Flipkart, eBay, etc., and can’t dare to plunge into the e-commerce business?
Well, you should be because they have established a place for themselves in the heart of a mass audience with their budget-friendly product prices and quick customer service. So, if there is a competition between Amazon products and the products of your e-commerce store, the customer is bound to go for Amazon.
In a nutshell, never enter into direct competition with an established player. Try to think of offering something which Amazon does not offer.
The above images are some examples of personalized niche items that can be sold. You can offer:
● Personalized wedding items or gifts to be distributed on the wedding day or for other festive occasions
● Pet products
● Wooden engraves for hobbyists
● Memorial products
If you start exploring, you will come across multiple niche products that you can pursue as an entrepreneur and help your e-commerce start-up business. Specialize in the one which you choose, and customers will love to pay premium charges for your high-quality niche product.
#5. Sell Something that is Trending
Ever heard of Google Trends? Check it out to find out the latest market trends.
Path:
Go to Google Trends > Enter the keyword > Select the time frame > Analyse the results.
If you plan for different regions, enter multiple keyword suggestions on Google Trends, and you can view a bigger
picture.
Example:
In this pandemic situation, face masks came in demand and became highly popular. You can create unique ones and get your e-commerce business rolling.
Reasons to pick up something high in demand:
● When a product is in demand, customers rush to grab the same. Marketing becomes unessential, and advertisement expenses are also minimal, which is good for your start-up.
● Taking an instant decision to offer the trending product keeps you at an added advantage since it increases your profits, and reinvestment becomes easy.
#6. Dropship
Dropshipping is a retail business in which a seller takes an order from a customer and sends the order to the Dropshipping supplier, who prepares and ships the order to the customer directly.
The store doesn’t stock the product. Instead, it purchases the same from the supplier and asks the supplier to directly ship it to the customer.
The major advantage of dropshipping is that you save on the inventory costs since you need not stock up the same. Hence, the start-up cost is less, which is ideal for your e-commerce business.
Secondly, you can jump to diverse products as per current trends due to the non-storage of inventory.
Consider Print-on-Demand:
Print-on demand of niche products or dropship products can be a good e-commerce business start-up.
Example: Wedding items, home decor, memorial products, stationery, etc.
If you already have a customer base, print-on-demand works wonders since you can instantly monetize their demands. Low risk and good earnings can be fulfilled by implementing this e-commerce idea.
#7. Sell Online Courses:
Selling physical products is a bit different from selling digital products. The selling of online courses is quite in demand, ever since studying became online.
Students face a hectic routine, and hence online courses are quite convenient, offering flexibility and education right at your doorstep, irrespective of location.
Example: Create your online course keeping your target audience in mind, entice them with strong and focused content, and compel them to buy the same by stating its educational importance.
Whooping profit margins follow since you save on the manufacturing part, storage as well as on shipping.
Must Learn: How to Start an Online Ecommerce Store with WordPress
#8. Create Handmade Goods
One of the niche products can include handmade products if you are an artistic person. Let me brief you that there is a huge demand for handmade goods, and customers are willing to pay premium charges for the same. Imbibe your name on your maker goods and start your business.
Example:
Etsy Inc. is a wonderful example of offering vintage or handmade items. They have grown from a sales volume of $314 million (2010) to $10.28 billion (2020).
#9. Pursue Eco-Friendly Products
You may think of starting a business by offering eco-friendly products, but if you are confused about what product to offer, think of daily use products to get an idea. Make an ideal choice for your business.
Next is to think of ways to create an eco-friendly model from the same. Ensure that it is sustainable and enticing enough to attract an audience.
Wrapping Up
There are ample opportunities that help you commence your ecommerce store, as stated above.
How you pick up an idea, convert it into a business opportunity and sell the idea will solely depend on your presentation, content marketing skills, implementation process, and other strategies. Many entrepreneurs fail in the execution part, and the business is shut down. Ensure that your execution process is perfect for piling up profits.
Read: Keeping your E-Commerce Site Secure: A Guide
One more important factor is implementing SSL (Secure Socket Layer) encryption security to secure your e-commerce store from hackers and gain customer trust. You can install a cheap wildcard SSL certificate available with reliable online SSL providers such as SSL2BUY or ClickSSL to secure your main domain and first-level sub-domains instantly with a single certificate.
