Ecommerce store playbook
Note: This blog on e-commerce business ideas has been updated for 2023 with the latest business insights. Happy reading!
After the recent economic meltdown forced by the global pandemic, e-commerce is more booming than ever. From clothes to shoes, hardware, vehicles, and properties, everything is selling online. However, e-commerce 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 2023. Below are the most popular niche online 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 is 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 niche e-commerce business idea?
In 2018, US retail e-commerce 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 e-commerce 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 2023
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 margins. 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
The online art market is 8.4% of the overall art market and the percentage keeps growing. So, if you are a painter, photographer, illustrator, or critic, there will be no better time to turn your expertise into a source of revenue with a beautifully designed art-selling and buying website. Launch a niche online art store or build the Amazon of the art world, that's your call but this niche e-commerce store idea has serious money-making potential.
Just make sure to choose a good online store builder for turning your online art business idea into a success.
Electric scooters, skateboards, and bikes are becoming mainstream not only among children but adults as well. According to a report, the global e-bike market will cross $35 billion by 2025. This growth of the electrical transportation segment can be tapped to launch a successful online store that hosts scooters, skateboards, and bikes with the E in them.
Entrepreneurs who are looking forward to starting an e-commerce business with a unique online store idea should definitely consider this one.
Another popular e-commerce business idea for the entrepreneurs of tomorrow! In the past 3 years, the subscription box industry has seen a whopping 800% growth. It makes clear that a lot of customers are looking for novelty, value, convenience, fast delivery, and a superior customer experience. Therefore, starting your online store around this niche will surely help earn huge profits.
Drones were seen as automated weapons of war but in the past decade, hobbyists started buying smaller consumer drones online for aerial photography and leisure, changing perceptions on the way. The drone industry is stated to cross $127 billion in sales by the end of 2020. That's why this niche online business idea can be a great pick to earn huge profits.
Video doorbells have been garnering popularity in recent times and became a trending online business idea in 2023. With growing concerns over personal safety, it makes sense that people will be switching to video doorbells in the coming years across the globe. Along with video doorbells, you can also sell security devices, and alarms offering high-quality night vision and motion sensors. Isn't this an amazing online store idea?
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 e-commerce business ideas to make huge profits in 2023. If you know any niche 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 firstname.lastname@example.org to discuss your e-commerce store goals.
Check out ecommerce website development cost breakdown for 2023
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