The world has no shortage of business ideas for ecommerce stores. But which ones are worth pursuing and which ones are not? It can be hard to tell. And with over 1.92 billion people buying things online, an ecommerce store has a lot of potential buyers. This makes it a worthwhile endeavour for those wishing to find a good source of income.
So if you are wondering which ecommerce business ideas are worth a try, keep reading on.
But First – How to Build an Online Store?
Building an online shop has never been easier in this day and age. All you need is a domain name, website hosting, and some sort of ecommerce website builder. Even if you don’t have any design and coding skills and experience, you can have one up and running within minutes.
This is thanks to what is known as website builders, and there are plenty of them available. The most popular website builders require no coding or website building experience. However, they tend to cost a good deal.
Alternatively, you can design an online shop for free with WordPress and use a plugin like WooCommerce to handle the ecommerce side of things. It’s a great cost-effective solution, compared to monthly charged conventional website builders.
8 Ecommerce Business Ideas to Try
On top of providing you with a large customer base, there are plenty of reasons why having an ecommerce store makes sense. For example, it is estimated that by 2024, 21.8% of all retail sales will come from ecommerce sales. Figures like these show that ecommerce is becoming a major player in the global commerce game. So without further ado, here are eight of the best ecommerce business ideas that you can try in 2020.
1. Beauty and Health Products
The beauty and health industries are some of the biggest in the world. Even today, with all these online business ideas available, it still remains extremely profitable. This idea is especially good for young people with great ecommerce marketing skills. As long as you are able to communicate the importance of the products you’re selling in people’s lives, your chances of success are high.
Check out the most profitable Amazon product categories.
2. Selling Second Hand Products
People don’t mind using second-hand products as long as they are quality products and are in good condition. All you have to do is start collecting those second-hand items, such as clothes, jewellery, furniture, and posting them on your ecommerce website. You also need to make sure that you are offering them at reasonable prices. You can start by testing how well this idea does locally before expanding your reach.
3. Smart Watches
Smart wear is all the rage these days, and people want more than just analogue and digital watches. People use smartwatches for a number of reasons, such as fitness and planning their entire day. They have become so popular that their sales are expected to reach $53.2 billion in 2019. This makes them one of the top ecommerce business ideas to try.
4. Smart Home Products
The Internet of Things (IoT) has come a long way. People love connecting all their devices so that they can talk to each other and anticipate their needs. For example, coming home from work and opening the garage door should signal the air conditioner to turn on. At the same time, it should signal the smart speaker to play some relaxing music if you are stressed. The stress levels can be ascertained from the mood tracker app on your smartphone.
As you can see, IoT allows you to create a smart home. Despite the potential of IoT and how people love this technology, not many people are selling these devices online. In the end, this is one of the best online retailing business ideas. It creates an opportunity for you to sell these products and make a profit.
5. Online Educational Courses
There are many successful entrepreneurs and teachers that have valuable knowledge to share across the globe. And you can build online shops where these people can create and sell courses to people. While there may be a lot of on platforms that sell courses, the demand is quite high. There are so many fields, niches, and vocations, that one platform can not provide them all. This is your chance to provide people with educational content not found anywhere else.
6. Selling eBooks
Gone are the days where you needed a publisher to start selling books. That’s why selling eBooks is one of the best ecommerce business ideas of 2019. You can write the books yourself or get someone to ghostwrite them for you. As long as you can write something of value on any trending educational topic, you will have a chance to sell a good number of copies.
7. Content Writing
Content writing is a valuable service, and it keeps getting more valuable as time goes on. If you are good at content writing, you can create an online store where you can sell your services. (You can even pre-write the content and put it up for sale). Of course, you might want to make yourself more affordable and available at the start. But once the business takes off, you can increase your prices and set your times.
8. Kids Toys and Games
With video games, smartphones and tablets, it seems that kids don’t value traditional toys and games anymore. However, this is not true – this is evidenced by the fact that toy companies keep making them. Kids still play with their dolls and action figures, and there is a market for them. Start with a small investment to figure out which toys are popular and grow your selection from there.
Plenty of ecommerce business ideas exist in the world today. Some are worth pursuing and others are not. It is up to the prudent entrepreneur to research and find out which ones to try. Check out some of these great ecommerce podcasts for inspirational stories and ideas.
As you can see, you can sell plenty of things online (almost anything), from health and beauty products to toys and games for children. Being able to open an online store is one of the great joys and benefits of living in the internet age, and you stand to make a handsome profit.