Whether you want to quit your 9 to 5 job to pursue your entrepreneurial dreams. Or looking for a side job while working from home. Starting an online store is one of the most lucrative prospects today. By 2022, global e-commerce revenue is expected to grow to $6.54 trillion.
Demand isn’t the only thing that makes e-commerce so desirable. It is also the ease with which an online store can now be set up. The availability of options such as dropshipping means that anyone with an internet connection can become an e-seller. Because you do not have to keep your own inventory nor be responsible for packaging and delivery.
Now it’s time to decide which product(s) to sell. We looked at the trends for 2020 and the forecasts for 2021. Here are 8 product categories that are worth exploring.
Pet supplies
We love our pets just as we love our children. The demand for pet products is not only unchanging but also growing rapidly. The global pet care market is expected to grow to $358.62 billion by 2027. Companies offering pet products have quickly cashed in on this growth. Nearly every reputable pet care brand has extensive R&D teams working on various types of pet foods, training aids, toys, grooming and skincare, and apparel.
Pet parents want the best for their furry babies. As an online store, you can satisfy this urge. Buy products from the best brands. Educate your customers on how to meet the nutritional and other needs of their pets through content marketing.
Beauty products
The beauty industry is constantly growing. Even during the COVID-19 pandemic, it has shown resilience. Especially when the closing of salons forced people to take skin and hair care into their own hands. The industry is expected to reach more than $ 716 billion globally by 2025. The main reason for this growth is that the industry resonates with every demographic. Beauty products for men are just as popular as those for women. Almost every well-known beauty brand, such as Sephora, Ulta, and Loreal, has a wide range of products for men.
Afraid of becoming the umpteenth player in the online beauty industry? There are plenty of opportunities to find your niche. Vegan, all-natural and handmade are just a few that come to mind. The more limited your niche is, the more expensive your product can be. Even people buying lot of beauty products with amazon coupons
Fitness equipment
Fitness is not a fad. It is a need, a need that has become increasingly stronger during the COVID-19 pandemic. The closure of gyms and other facilities has not deterred enthusiasts. Even the previously non-enthusiasts have started purchasing gear. Think of things like dumbbells, resistance bands, and yoga mats to transform their homes into makeshift gyms. The global home fitness equipment market was expected to grow. From $6.76 billion in 2019 to $9.49 billion in 2020.
There is a huge opportunity for setting up and marketing an online fitness equipment store. For example, you can partner with local fitness and nutrition experts for cross-promotion campaigns such as giveaways, combo packs, and even a YouTube channel for home workouts. You won’t just own a thriving online business. But also have the chance to nurture a community of like-minded people with shared goals.
Bluetooth devices
Bluetooth technology has come a long way. Certainly since the original days of file sharing in the early 2000s. Fast forward to 2021 and we use Bluetooth devices for professional and personal interactions, to listen to music and podcasts on the go, to exercise, to communicate with virtual assistants like Alexa and Siri, to find personal belongings (including pets), and much more.
For budding entrepreneurs, the sector is promising and exciting. Especially now that the Internet of Things is fast becoming the world order. It is expected that the number of connected devices by the end of 2025 will grow to 41.6 billion worldwide.
Drones and accessories
Talking about ecommerce ideas for tech savvy entrepreneurs. While Bluetooth technology resonates with the masses, drone technology is also interesting. But then for a highly developed, passionate, and niche market that doesn’t care about the high price tag. People with aviation dreams want to experience what it feels like to fly a flying object. Photographers want to take their expertise to the next level. Nature and wildlife enthusiasts want to observe their objects up close.
Drones are also used for surveillance in defense, agriculture, real estate, construction and manufacturing industries, and science and technology. In a 2020 report, Business Insider predicted that the drone industry will grow to $63.6 billion by 2025.
eBooks and audiobooks
Avid readers will argue that nothing beats the charm of the good old paperback or hardcover. But there’s no denying that the rise of eBooks and audiobooks has encouraged more people to get into the habit of reading. Also in this era of declining print media. The revenue from the sale of eBooks will amount in 2021 to reach $ 15,635 million.
As an online seller of eBooks and audiobooks, you have the opportunity to sell books on everything under the sun. Or create a niche by selling specialized books. You can even set up an e-learning program that offers online courses and sells eBooks as course materials.
DIY products
When the pandemic kept us home-bound, many of us turned to DIYers for comfort. Others who considered themselves more art connoisseurs than artists turned to the internet or local stores to fill their homes and wardrobes with the others’ beautiful works of love. In the first 6 months of 2020, living and living was the most popular category on the arts and crafts e-commerce platform Etsy.
Have you discovered a hidden talent or passion this year? Why not make some money with it by starting a fun and quirky online store? Or, if your eye for art and ingenuity is better than the talent itself. Then you can get in touch with local artists for a joint store. You can target a niche audience that can afford to forgo big-box ecommerce stores in support of local, handcrafted products. You can even have a lot of fun marketing your store. By telling compelling stories about your creations or finds with beautiful photos on platforms such as Instagram, Facebook, and Pinterest.
Subscription boxes
In 2020, as COVID-19 raged around the world, there was one industry that thrived (aside from video conferencing): the subscription box. Food subscriptions in particular became very popular as the demand for high-quality products combined with exciting recipes delivered to your doorstep increased. In the US, Freshly delivered 5 million meals in March 2020 alone. Hello, Fresh meal boxes are quite popular in the Netherlands.
Food isn’t the only thing you can sell in subscription boxes. There are tons of categories to choose from, such as beauty products, cocktail packs, crafts, fitness and detox packs, and more. Not sure which category to choose? Mix it up by contacting your favorite brands and buying their products to put together a box of assorted trinkets.
The right domain name for your online store
It is your branding that plays the most crucial role in your success. Especially now that the online market is becoming very competitive. Small details like your company name and domain name become the main differentiators between you and your competitors, which is why you should think carefully before making a choice. Keep consistency in your branding. Think of your domain name in combination with your company name and try to keep the two the same or as similar as possible.
Your domain name is often the first point of contact between you and potential customers. Make it attractive and indicative by keeping it short and simple and using keywords that communicate what your company stands for.
