After the recent economic meltdown forced by global pandemic, e-commerce is more booming than ever. From clothes to shoes, hardware, vehicles, and properties, everything is selling online. However, ecommerce newbies are still having a hard time deciding which e-commerce business idea to pursue. And, most importantly, what products to sell?
TechoSquare has gathered some of the hottest e-commerce business ideas to help entrepreneurs make a decision in 2020-21. Below are the most popular ecommerce business ideas to get started in the web realm:
According to a report by ThredUp, the global vintage clothing market was over US$24 billion in 2018 and is likely to hit $41 billion by 2022. If you have an eye for fashion, you can think of starting a vintage clothing online store with ease. Read our detailed guide on selling vintage clothing online
Another great idea (niche) for fashion enthusiasts to start their online business in fast fashion. The global value for fast fashion in 2019 was 36 billion US dollars and is likely to hit 2x in 2022. What can be better than this for your e-commerce business idea?!
In 2018, US retail ecommerce revenue from sales of footwear and accessories amounted to an estimated 102 billion dollars. These numbers are likely to hit 146 billion US dollars by 2023. Investing your money in this ecommerce niche is a great idea for your startup.
Hardware stores have still not gone mainstream online and this is an opportunity that's worth grabbing. Entrepreneurs who launch online hardware stores to cater to local or global audiences will earn big.
The value of global B2B e-commerce in 2018 was $21 trillion. The profits to be made in the B2B are literally humungous since the order quantity is big. Identify the B2B industry that you understand and plan to launch a platform to cater to it!
31% of first-time shoppers prefer to compare and buy from multi-vendor stores. Starting your own multi-seller platform will open your business to unique opportunities and increase your potential for accelerated business growth. Check out the most powerful multivendor store launcher of 2020
Online furniture shopping sales saw revenue reaching $190 billion in 2018 and is still gaining momentum across the globe. This is one of the biggest reasons why you should go with this niche for your online business. Selling a small collection of furniture through a nicely curated store is something thousands of entrepreneurs are doing right now.
From businesses to end-customers, everyone is purchasing gadgets online. Starting your online business with this niche is going to drive huge profits your way since gadgets are high margin. Choosing a particular gadget category like gaming and pre-owned devices can also be highly profitable.
Make your gadgets store multi-vendor to host multiple sellers and multiply profits. Here's everything you need to know about the multivendor business model
Health and wellness products store
Jewelry trading website
Artifacts and collectibles store
Education products and courses
Online grocery store
Fitness products store
Travel packages store
Above are some of the best ecommerce business ideas to make huge profits in 2020-21. If you know any ecommerce business idea that you are passionate about but that’s not on our list, we would love to hear it and help you make it a reality.
Email us at email@example.com to discuss your e-commerce goals.