Ecommerce can be tough if you have zero idea about how this vast marketplace works, but with the right mindset and analogy you can succeed and earn enormously high profits within the first six months!
The changing working norms are growing in popularity and also promoting maximum working industries to have virtual business setups. All the new entrants in selling services and products online need to research the potential target market thoroughly.
For starters, you need to have patience and an attitude to thrive and learn from your mistakes to survive in this competitive online business industry for long time. Let us begin with the three most important rules for ecommerce: you must have an undying thirst for success, a vast skillset for business and marketing, lastly – most importantly – sell the most sought-after products.
Too many product ideas can cause confusion, but this article has enlisted the most profitable items for you already.
Just read along and get going!
Before finding products, do some research to see which industry is growing in popularity, what is the competition like? Gather some data on your competitors, any suppliers, or manufacturers you might need, and make up a rough image of what your costs will be like.
Find a niche that has low competition and know its price points so that you can begin selling products online at lowest price and then make your way to the higher prices – the loss leader approach.
Now, the products.
Clothes are that one thing for which the demand is never going down, in fact, new trends and fashion styles have only uplifted this gigantic industry. According to Statista, the online clothing industry is expected to reach USD 872 billion by 2023. From shapewear and athleisure to formal and semi-formal clothes everything is in-demand.
However, the industry is fairly competitive, and it might be difficult to find a spot as a new entrant. But worry not, there is always a buyer for a product. Keep studying market trends, your target buyer’s choice and preferences, their purchasing power and all other important aspects that can help you list the best products on your online selling store.
- Teeth whitening products
You might have noticed the sudden surge in the endorsement of teeth whitening kits; this industry is expected to reach 7.4 billion USD by 2024. The plus point is, you do not even have to heavily market it, it is already in-demand by so many consumers, much thanks to sponsored posts by influencers and celebrities on social media. As the beauty industry is growing all the affiliated industries are also getting a bigger market share in their businesses. The consumers for teeth care-products are increasing prodigiously. Now is the time to start investing in these products and get most benefit out of this opportunity.
- Technology gear
With the rise in technology and increasing usage of the internet, tech gear is high in-demand. These products are not age specific, almost every age group is in excessive use of such tech gear items in some way of their life. But the products that are not suitable for kids, their specific age versions are also available in the market and are selling like hot cake. From smart watches and tablets to wireless speakers and Bluetooth devices, everything is in-demand. Gaming laptops, computers, Cell phone and car accessories, like pop socket, phone cases, portable chargers and trackers for car are a very profitable niche in this industry. Especially for those looking for drop shipping in ecommerce.
- Digital Products
Internet and technology have surely paved the way for tech gear, but it has also created a new industry for digital products. From software, online streaming services, games to digital art, eBooks, and online courses – which are even higher in demand due to CoVID-19. Although you do need a specific skillset for entering this industry, but there are so many online resources available for you to learn from and create a product to sell online.
- Medical and Personal Protective Equipment (PPE)
The global pandemic has boosted the medical and PPE industry, and expect to reach USD 85.72 billion by 2026. More and more people are entering in online business for medical supplies. From thermometers, pulse oximeters, nebulizers, face masks, sanitizers, medicines, everything is crucially high in-demand right now.
- Baby and Maternity items
It is for sure that items for babies and maternal care are never going out of demand, just like clothes. All the parents get so excited for their child even if he’s not the first one, so be sure, the market demand for your items is always the sky-high. And perhaps due to this, the industry is pretty saturated now, but still profitable for newcomers who want to dropship items to their customers. There is a rise in “mommy bloggers” and many are looking to promote your products at very low prices. As a content marketer, you can surely benefit from these.
- Vegan, Cruelty-free and Organic
Many consumers are switching to more eco-friendly items, thanks to veganism, the Minimalism movement, and the increasing awareness about climate change. Fashion bloggers and lifestyle influencers are promoting ethical and sustainable fashion brands, trend for thrifting is increasing, organic food items, cleaning supplies, skin care and beauty products are also popular.
The global market size for this type of industry was USD 12.9 billion in 2017, and it is expected to increase, so it would be a good investment. For example, cruelty-free beauty products, plastic-free containers, as well as ethically sourced jewellery and clothes. You can start your online business of beauty products on StoresGo that is offering free marketing and listing services to all the sellers.
- Pet Industry
Just like the baby items industry, pet accessories are forever in-demand. According to AVMA, 63.8% households in the USA own either a cat, dog, or both. With this high percentage, there is no dropping of the demand for pet food, litter boxes, flea repellents, grooming products, toys etc.
In fact, the industry in America alone, was estimated at $72 billion near the end of 2019. The target audience for pet items are millennials, and they are high in population in the entire world, so you have customers ready, just begin selling!
- LED Light
I am pretty sure you have seen those Tik Tok videos of influencers showing off their rooms decorated with colourful LED light strips and how they got those online stores at cheap rates. Well, LED lights are among the trending items for millennials and Generation Z consumers, but if you plan on investing in this market, go big!
Try to sell LED lights not just for indoors, but for outdoors, maybe for cars too. No wonder this industry was estimated at USD 54 billion in 2019 and is expected to rise 13.4% in the current decade.
In 2018, the global stationery industry had a value of USD 90.6 billion and it was estimated to grow by 5% each year, following 2018. There is also a rise in online communities like the Studyblr, or the Bullet Journal Community; they thrive on stationery items and art supplies. With a large social media following, marketing for such products will be relatively easy too – influencers and artists are always looking for sponsorship deals.
Ecommerce business may not be a piece of cake, but it is surely a profiting industry. The search volume for your preferred industry and its competitive niches, products, should be high. You also want to think about your preferred ecommerce method, whether you are looking for business to consumer, business to business, direct to consumer, wholesaling or drop shipping.
You need to calculate all costs before actually setting up your ecommerce store. If you want to create a new product, think of the design, bring new product ideas, get a prototype built by a manufacturer and then look for potential investors, and get going. If this is costing you too much, go for drop shipping.
There are so many options available for you to begin your online business, all you have to do is start thinking, and StoresGo will take care of the rest. Since it is a relatively new ecommerce business platform, there is not much competition and you can conduct your business rather smoothly. StoresGo provides best SEO and marketing tools to attract your target audience and generate maximum customers for you. There is no registration fee and you can start your business without any hassle!