Are you looking to start an eCommerce business, but not sure what you want to sell?
You're not alone. eCommerce is growing at an exponential rate and there's a lot of money to be made. But there are so many options to choose from.
eCommerce Ideas: Best eCommerce Businesses to Start
With so many types of eCommerce businesses available to you, it can be hard to decide what to choose. The best business ideas are sustainable and expect to see growth over the next few years.
Here are seven:
- Online clothing store. All you need to start a clothing line these days are some design ideas. The actual production and fulfillment process can be outsourced. Your store can even be automatically linked so orders are immediately passed along when they're placed and you just take the money with an eCommerce payment gateway.
- Dropshipping. We've advocated for this model before and for good reason. Dropshipping lets you start a business with very little cash on-hand. You'll be reselling another company's goods while they handle fulfillment. So, you can focus on building a storefront and work on your B2B marketing or DTC marketing plan.
- Thrift reselling. Second-hand stores have benefited in recent years from a market shift toward sustainable goods. Businesses that sell recycled/upcycled goods are booming and have huge margins. All you have to do is comb through local thrift stores, invest in an eCommerce platform or digital storefront, and sell what you've found.
- Affiliate marketing. Here, you recommend another business' products or services in return for a commission each time a sale is made. This business model has seen continued growth every year and many major businesses are participating in it. Essentially, you can run a blog that generates passive income. Many online eCommerce platforms and marketplaces have their own affiliate programs. You'd be amazed how writing content can build your revenue so much that you have to invest in eCommerce accounting software.
- App and website development. If you're tech-savvy, building apps and websites can be a very lucrative business. More businesses are looking to build an online presence every day, but many don't have the skills to do it themselves. This B2B business model offers a lot of upside for someone with the right capabilities.
- Podcasting. With a microphone, a few pieces of recording software, and a topic you're passionate about, you can monetize your own voice. More than half of Americans say they've listened to podcasts at least once. Successful podcasters can even get advertising deals, affiliate traffic, and more.
- Subscription boxes. Another fast-growing model, more than 18.5 million people subscribed to at least one subscription box in 2019. You can sell single product types, themed boxes, or something like a monthly coffee subscription. You can even use the BlueCart Food Subscription Platform to grow your sales quickly and easily.
Most Profitable eCommerce Business Ideas
Not all eCommerce businesses are as profitable as others. In 2020 there are a few niche and startup businesses that are showing strong profits.
Here are ten:
- Smart home products. Smart thermostats, home speakers, doorbells, and more are likely to see a strong increase in sales next year. In 2019 alone, more than 40% of millennials used a smart home speaker with more adopting the technology every day. Just remember to pick up some eCommerce business insurance to protect that valuable inventory.
- Jewelry stores. Single-category eCommerce stores have remained strong this year and jewelry is no exception. You can create your own or resell from a wholesale supplier with a good markup. This category is unlikely to go away any time soon.
- 3D assets. If you know how to create 3D digital assets, you can have an in-demand business. Many video game and AR/VR companies are turning to premade assets from third-parties to save time and money. You can even offer monthly or yearly subscriptions to your asset library.
- Online grocery and foods. 2020 saw the rapid growth of food and grocery delivery services. This trend looks to continue through next year and you don't even have to build your own site. Use the BlueCart Digital Storefront to sell B2B wholesale, direct to consumers, or both.
- Face masks. Though common in Asian markets for some time, in 2020 the Western world was forced to adopt these protection devices. This will continue to be the case for some time and high-quality, fashionable masks are a viable business.
- Online fitness coaching. With gyms closed and people working at home, online fitness coaching has taken off. Private tutoring and guided classes are highly profitable and easily marketable. If you're fit and have the skills to teach others, you can make a lot of money.
- Online learning platforms. Like fitness coaching, online education has seen rapid growth in 2020. Unfortunately, many of the existing education portals are not well-designed or easy-to-use. Education, vocational training, and other niche learning fields are open for competition.
- Enamel pins. Even more niche than other jewelry, enamel lapel pins have become a big business in the past few years. Creating custom pins, sports pins, and niche markets like television shows or films are a great way to build profits. You'll need to look for a new bank account for eCommerce business once you have a popular pin in your inventory.
- Digital marketing. Marketing always needs to adapt to technology, but many businesses don't. If you have skills related to SEO or paid advertising there's a large market in need of your services. Acquiring a few long-term clients can grow your profits sustainably.
- Baby clothing. Clothes sales are always a good choice, but the baby market can be very profitable. Design a few rompers and work with a quality manufacturer and you can grow quickly in this market. You can even expand to maternity clothing or matching family clothes.
Eureka, It's eCommerce!
There are many viable options for a profitable eCommerce business. Whether you choose a B2b or a direct to consumer business model, it's easier than ever to create and grow a business.If you pick the one that matches your skills and put in the effort you can carve out your own corner of the internet and grow an audience. Once you've chosen, make sure to get an eCommerce business license so you can operate without worry.
Keep an eye on trends and changing technologies to see your business through the ever-shifting internet market. You can keep up-to-date on the latest technologies and trends by picking up some of the best eCommerce books or reading an eCommerce blog.