If we take away nothing else from this pandemic, let it be confirmation that like it or not, the whole world can be conducted online.
Spending 24/7 with your family may have you pulling your hair out, but the truth is told, the current situation could very quickly become the new normal.
Sure, you miss hanging with your friends, hugging family you don’t live with, and the ability to go to the grocery store without feeling like you are entering a war zone.
The reality, however, is that e-commerce is the way of the future.
With no constraints on distance or time, when executed correctly, it has the potential to be established as a highly successful business venture.
A few things to keep in mind when determining what product or service your e-comm site should offer.
Think profitability-competition-price point-easy shipping-durability-sellability and seasonality.
After endless hours of research, we have compiled a list of e-commerce business ideas that are not only trending but highly lucrative for you to consider and help you begin making money online.
Health & Wellness Industry
Offer rewards or incentives to those willing to leave reviews. Use social channels to tout your product or service, and provide trust and transparency with your customers.
This sector attracts a specific audience, so tap into their empathetic nature and nurture your clientele while expanding your brand.
By cultivating advocacy and promoting engagement, people will be more likely to be loyal to your site and the goods or services you offer. When determining what to sell, consider the following suggestions:
1. Face Masks
if you were not a medical professional or worked in an environment riddled with pollutants, little thought was given to owning, much less purchasing face masks.
But now-well-best of luck ducking and weaving the price gougers if you can get your hands on this hot commodity at all.
People will be slow to believe they are safe and that life has returned to ‘normal,’ suggesting that now is the ideal time to capitalize on this market.
Currently, medical face masks-nay masks for that matter-are retrieving top retail dollars and are being sold online for as much as $7-$70/mask.
Life after COVID-19 will see the price return to its original state-or close to it-which is typically a markup of 100%-200% as per this publication.
2. Medical Gloves
Medical gloves will reportedly hold a market value of $13.5 billion by 2016, with a CAGR of 10.5%-17.8% as per this publication.
Increasingly necessary in reducing contamination and potential allergens from touching human skin combined with a growing number of infectious and contagious diseases, significant market growth is forecast to continue to drive the growth of this industry.
Wholesale medical gloves can be purchased for 0.05-0.06/glove. Retail the same item for around .24-.37 through your e-commerce website, and you are looking at a hefty ROI.
3. On-line Health Service
The healthcare industry in the United States is worth an estimated $3,504 trillion and continues to see momentous growth.
This influx of consumer demand has created an increased need for online and on-demand health service centers.
Align with revered professionals to build a superior platform providing reliable services and state of the art technology.
Privately owned, your online platform can become established as the ‘go-to’ for online healthcare in your community.
Whether you opt to provide medicine, check-ups, or services such as ambulance, patient transfer transportation, or pharmaceutical deliveries, providing a ‘telemedicine’ style business allowing Americans to access physicians and medical services online is flourishing.
This article offers ten of the best online doctor and medical systems to examine to get a better understanding of what is involved with this undertaking.
Whey protein powder fits the e-commerce bill perfectly. Lightweight, easy to package/ ship, and plenty of scalabilities suggests that this market is a top contender for earning you money.
Wholesale options are in abundance with sites such as drinkiconic, aeglenutrition, and full scripts.
The markup on protein powder is approximately 100%. With numerous flavors and brands to choose from, you can offer your customers a variety of options.
This post provides step-by-step instructions on how to implement and be successful with this endeavor.
4.Vitamins & Supplements
Americans live harried lifestyles. Unfortunately, as a result, nutrition tends to fall by the wayside.
More people are becoming health-conscious and informed about the importance of taking vitamins to fill in the gaps left by their not so fantastic diets.
With copious amounts of options from daily multi-vitamins to performance-enhancing supplements, this $33.1 billion industry offers an abundance of potential.
Retail markup on vitamins and supplements is typically between 30%-50%, but be sure to adhere to FDA standards and list all ingredients on your site.
Wholesale retailers the vitamin shop and bulk supplements offer reasonable rates and free shipping on most orders.
5.Fitness Trackers
HIIT-Tabata-interval training. All popular forms of exercise and all appear to be withstanding the test of time. The commonality?
They each require fitness or time trackers to maximize workouts and monitor heart rates.
While it is true there are numerous downloadable APPs, for many fitness fans, the tracker remains essential.
Wearable technology is a $95 billion industry. With multiple options, styles, and types of fitness trackers available, you have the luxury of offering your customers numerous choices and price points.
From wristbands to T-shirts and heart rate monitors, wholesalers like dhgate, ec21.com, and wholesale point are ideal candidates to get the best value for the dollar.
The average markup on this style of equipment is around 40%. Consider adding vitamins, recovery/performance supplements, and additional inventory to your site and become a ‘one-stop-shop.’
Fashion
Globally the fashion market is worth approximately $1.5 trillion . People love to shop. The best part is because of the diversity of this industry, your price points can fluctuate from discount barn to haute couture depending on your identified target market.
Determine your niche and establish a unique online shopping experience for your customers that offers value.
Listed below are our top seller picks that are hot right now and fit the e-commerce business ideas MO.
6.Costumes
$3.2 billion+ is spent on costumes in the United States every year. People enjoy dressing up and not just at Halloween. Think Mardi Gras, period costume parties, kids parties, the list is endless.
7.Luxury Fashion
By opting to sell high-end fashion items, you have identified your target market and ideal client base.
Individuals in search of luxury fashion expect quality and are willing to pay premium prices if your products are on point.
What you the seller needs to understand is that purchasing high-end fashion pieces over bargain-basement selections is a process primarily evoked by emotion.
Your job is to make the consumer feel like this product was designed specifically for them, their unique style, and tastes.
8. Shapewear
Granted, no one openly admits or discusses their Spanx, but this $5.6 million market is projected to see an online growth of 9% in 2020.
With the potential for markups between 40%-70% selling shapewear and compression clothing online is not only strategic but incredibly profitable.
One of the most trending e-commerce business ideas to consider, wholesale purchases can be made through sites like American shapewear, feel foxy, and orange shine.
This evergreen niche continues to skyrocket and remains one of the top contenders.
Digital
The world is digital. With over 245 million internet users in the United States and over 2 trillion Google searches per day worldwide, this is not rocket science people.
Establishing an online presence is not only lucrative but will ultimately be the best way to garnish success in business.
Of course, there will always be brick and mortar businesses, but at some level, they too will need to devise a digital platform if they hope to stay afloat in an increasingly competitive market.
Here are a few of the best e-commerce business ideas embracing the digital realm and assisting business owners while generating significant profits as compensation for your efforts.
9. Social Media Consultant
Social media is the linchpin in building your brand, connecting with customers, and increasing sales.
But what platform? What type of campaign?
For many business owners, the world of social media is like living in a foreign country where you don’t speak the language.
With more than 3 billion people utilizing social media globally, why not consider an e-commerce platform connecting business owners to social media consultants to assist them in launching their campaigns?
You are providing a solution to a problem and invaluable service and expertise. Charge a user fee for clients and a surcharge for consultants who list on your site.
Create a platform where potential clients can connect with consultants directly and book services as needed.
10. DIY Online Store Builder
There is no denying that setting up and building your e-commerce store requires time and effort. For the less tech-savvy folks, it can be nothing less than a nightmare.
By offering a DIY online store builder, you design a platform where you guide other up and coming entrepreneurs to create their online platforms.
Either via videos, PDF downloads, or live tutorials, this is an invaluable service for more people than you think.
Add in software application options as an upsell or consider the premier package of doing the work for them for a hefty price tag of course.
Source: ippei
