Businesses are shifting to online platforms and almost everyone is shopping online due to the convenience attached. A case in point is the recent Black Friday sale that saw billions of dollars earned in revenue and the majority of the products were sold online. This means that starting an eCommerce business or an online store is one of the best ventures you can do right now. However, the eCommerce industry is so vast and knowing what business is worth pursuing can pose a real challenge. Today, we take a look at various eCommerce business ideas that you can start in 2020.
How to Launch an eCommerce Store
First, before you venture into your online business, you need a platform through which you’ll advertise and sell your products or services. This can be achieved in two ways – building a store yourself (self-hosted) or renting a pre-built store (hosted). For financial reasons and ease of operation, the second option is better since everything is simplified and streamlined. Take Shopify for instance. You can rent it and start your business right away. Plus, it has a low maintenance cost of around $30 per month. The process is pretty simple and straight forward – create an account, pick your store look, add your products and you're good to go! The real hassle, however, is knowing what to sell. Thing is, to be successful, you must look for products or services that will always be on demand and haven’t already flooded the marketplace. Go to social selling sites like Pinterest, Instagram or Etsy to find out what your friends, family or coworkers are interested in. There are several eCommerce platforms to choose from, depending on your needs, goals, and preferences. These include:
Now, armed with a few basics about starting your own online store, here are some eCommerce business ideas to get you started:
Event Ticket Sales
Entertainment is a lucrative industry with billions of dollars in earnings. With so many shows happening around, from comedy shows to music shows to movie premiers, you can start selling entry tickets online at a discount. People love the convenience of buying a movie ticket right from their phones or laptops and this can turn out to be a real business venture for you.
Online Service for DIY Products
If you follow social media closely, you must have realized how popular DIY videos are. People love unique and useful items, and if you can show them how to create these products from the comfort of their homes, you're sure to attract a huge audience. If you have beautiful DIY ideas, you can create an eCommerce store and monetize those ideas by selling them with well-detailed and clear videos. The challenge is to offer your client base really unique products using creative ways that haven’t been tried elsewhere.
Plus-size clothing fashion is yet to be exploited fully. People still have a hard time finding clothes that fit them. Most stores sell apparel for specific body types and this can be a great opportunity to tap into. Recently, there have callouts for inclusion and diversity for clothing collections. Opting to sell plus size clothing as a niche allows you to target plus sized audience making it easier for them to find the right size. With good optimization strategies, you can reach a wider audience. Additionally, you can use other marketing platforms like Facebook and Instagram to skyrocket your page’s following and engagement.
With over 800,000 monthly searches for the keyword “Meditation”, this is one of the leading business ideas in 2020. Due to its wellness benefits, mediation is growing in popularity and more people are embracing it as a way of healthy living. You can start a profitable meditation blog, create a meditation app, or sell meditation products. This is a massive field with plenty of products or services to offer, including ebooks and creating a YouTube channel teaching useful mindfulness tips. For such a business venture, content is king. You want people to understand what meditation is, how it works, and how it benefits them. In return, those people become your clients and you can start offering them ebooks or other useful products.
Pet sites have a huge following. You can create your own unique website and offer unique content, products or services that no one else offers. From viral dog/cat videos to pet accessories to pet apparel, there are so many ways to kick start your pet store. You can create content on dog training or blogs about specific dog breeds and which ones are the best in performing certain tasks. These informative pieces will make it easy for dog owners to choose the best dog breed and learn how to train them.
Dash Cam Store
Dash Cams (dashboard cameras) have gained huge popularity, especially with insurance companies who use the footage as evidence after an accident. Since you can't create your own dash cam, you can dropship from a variety of products on Orbelo. To get your audience interested, you need to create content showing how dash cams can be beneficial. Additionally, look for dash cam clips and post them on your blog. However, remember to ask for permission from the person who recorded the clip before uploading it to your site.
Smart Devices Online Store
In 2020, we expect more innovative smart gadgets to hit the market. This is a promising niche that you can use to provide solutions to problems that people face every day. From smart devices like lightbulbs, security cameras, thermostats, doorbells, and hot water heaters to speakers and kitchen appliances, the list is endless. Home automation is becoming popular by the day and if you can fulfill the demands of this vast market, you can have a successful eCommerce business.
These are just a few examples of eCommerce business ideas that you can start right now. While some may require a huge amount of investment, others allow you to start right away on a budget. That said, you can start any business by dropshipping products from well-established brands. This eliminates the need to have a warehouse and other hassles like packaging and delivery. The important thing to consider is starting a business that suits you the most. Do thorough research in terms of availability of the product and the cost of running that business. Remember, the aim of starting any business is to make profits.
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