It is not a secret that eCommerce is one of the most profitable and fastest-growing areas of business worldwide. It should come as no surprise considering that almost 25% of the world population buys things online. That is a really large market, you have to agree. However, with the market that large, there is also a large competition as well as many different areas to focus on. With all that being said, it’s reasonable to be uncertain about which business idea to pursue.
We are here today to try and help you overcome those doubts and hopefully point you in the right direction as far as business ideas go. Since we’re firm believers in the old business saying that time is money, we’re not going to waste any more of yours and get straight to the point.
1. Health and Beauty Products
Fortunately, or not, whatever your views on this issue may be, we live in an era where a lot of our time is spent on trying to look as beautiful as possible. That has created an enormous market for beauty and health products, with the emphasis on the prior. Naturally, both of those things go hand in hand, but it’s safe to say that looking beautiful takes precedence nowadays. With this in mind, dealing with these kinds of products can be really lucrative in this day and age.
One thing to remember, a lot of it depends on the marketing. If you’re considering entering this field it should be your priority. Convince people that your products are the best, that they’re going to make a significant change in their life and consider reaching out to Instagram influencers for partnerships of sorts. They can make a lot of noise for you in this game.
2. Second-hand products
Second-hand shops have always been popular and now more than ever. With fashion being as important as ever, people tend to shop at second-hand shops more than ever, mainly to save money. As long as your clothes or whatever you’re selling is of high quality and in good condition, you’re golden. The great thing about this is, if you manage to find a bulk supplier, which is possible, you can make a lot of profit for yourself. Buying bulks of clothes comes with a significant discount that can allow you to set prices low but still make good net profits.
You don’t have to limit yourself to clothes – there is a market for second-hand jewellery and even furniture. You can find a good piece of furniture that requires a bit of work at a steep price. Fix it up a little bit and put it up for sale. It’s good to try this locally first, see how it goes and then decide whether you want to spread out or not.
3. Online courses
We’re sure you’ve seen numerous ads for online classes, master classes and all sorts of knowledge-sharing events. You can set up a shop where those people can share their knowledge with the other and make a profit off of it. There are so many fields nowadays, there are at least a dozen people online offering their tutoring services for each and every sub-category of those fields. It’s an expanding market and it can be exploited.
If you’re maybe planning on having some live courses, or group classes that require a lot of people online at the same time on your website, don’t forget to optimize it properly so your users have a pleasant experience. It’s not just us saying that stuff, experts on eCommerce business such as Optimum 7 often highlight the value of a properly optimized site and how much it contributes to your success.
4. Selling services
It’s not just products that can be sold as we’ve seen in the previous paragraph, you can sell knowledge. Sometimes, some people don’t want to learn and others don’t want to teach, but they still want the job done. Someone wants something done and you’re the one that can do it, so why not get paid for it? It doesn’t matter what you do, whether you’re a designer, a music producer, a sculptor or a content writer, there’s a time and place for anyone. Start small, gain some good reviews and then build from that.
5. Smartwatches (and everything else for that matter)
Smartwatches have been around for some time now, but just recently they’ve crossed the line from being the gadget only tech enthusiasts want to a desirable piece for an average Joe. It’s estimated that the smartwatch sales will eclipse over 40 billion dollars worldwide by the end of 2023. If you can get yourself a piece of that pie, that’s more than good. It’s not only a statement piece having a smartwatch nowadays, to be fair, but they’re also far less expensive than their analogue predecessors, it’s the fact that they’ve become a very useful thing that has propelled them into a mainstream thing. You essentially have a miniature version of a smartphone on your wrist that can measure your heart rate, keep your calendar or alert you when you have an e-mail, call or a text message. Sure, the phone does all those things, but sometimes it’s more convenient, for example on a crowded bus or in a meeting.
However, smartwatches aren’t the only ‘smart’ thing you can sell these days. You can essentially find any home appliance with a ‘brain’ nowadays. From garage doors, air conditioners, refrigerators to night lamps – there’s something just so pleasant and convenient when you can control all those devices from your phone.
6. VR/AR equipment
Virtual or augmented reality is still in its developing phase. Yes, there are a few generations of VR/AR devices out there, there are several games and apps, but the field hasn’t taken over yet. There haven’t been any major breakthroughs that would shake the world, but, they are coming. It’s already evident how much of our lives have gone digital and device-dependent, so, it’s only a matter of time before those experiences become even more immersive. So, it might not hurt to get ahead of the game while it’s still possible. VR/AR could be the next greatest thing and you could be there from the start.
Of course, none of these are a given success, nor they are the only ideas out there. When it’s all said and done, what is crucial is that you work hard and smart and the results will come. What we hope is that this article would serve as a nudge in the right direction, everything else is up to you. Good luck!