Simply speaking, ecommerce is all about buying and selling of services and products, or transmission of data or funds, over the web. The transactions which take place in ecommerce are usually business to customer (B2C), business to business (B2B), consumer to business (C2B), and consumer to consumer (C2C). Both E-business and ecommerce go hand in hand. Ecommerce is known for its 24x7 Availability, international reach, speed of access, and accessibility to wide range of services and goods.
Why to Start Ecommerce Business?
Did You Know?
Over 1 billion of internet users (around 40% of world population) purchase goods and services online nowadays.
With the increasing use of mobile devices, ecommerce has evolved and became more popular over the world. This figure keeps on increasing as internet and mobile devices have been worldwide. The changing market presents huge opportunity to the businesses to expand their market and improve relevance in the world.
To run an ecommerce business, you may choose to work from home. Though you need an office space, it is not mandatory. You may rent housing and get a domain name to operate this business. If you want to start an ecommerce business, you may consider some of the following business ideas as inspiration.
Ecommerce Business Ideas for High Profit in 2017
1. Jewelry & Accessories
The total sales of jewelry have exceeded over $70 billion in the US alone, and even large retailers have enjoyed a lions’ share in these sales, especially the ones engaged in wedding industry. But there is still a lot of room for specialty retailers.
The theme of retailing rare and hard-to-find accessories like handcrafted jewelry from new designers, vintage jewelry found at private collections or auctions, or designs made of unique materials is the new arrival in jewelry ecommerce industry. You may also rent out a costly jewelry to the consumers for special occasions.
2. Automotive Accessories and Parts
Large number of automobiles plies on roads and automotive parts and accessories are another retail segment to provide great market share. It can guarantee great sales in the market. This concept is full of subcategories and niches for any entrepreneur to look for a great opportunity to grow. You may be specialized in offering steering wheel covers, or other accessories for certain models or cars.
3. Consumer Electronics & Accessories
It is another most popular category in ecommerce business. In holiday season, the sales of consumer electronics goods grew up to 13%, according to a recent report. Since it is a huge market dominated already by the ecommerce giants like Amazon, eBay etc, it might not be simple to go head-to-head with them.
Rather, you should look for a unique niche. You may offer something different that is not available in bigger sites. You may sell used GPS-based dog trackers, designer tablet or phone cases, or used video games. To conclude, you can always find a unique niche to make money if you brainstorm more enough.
4. Apparel & Accessories
This niche includes belts, clothes, gloves, ties, hats etc. It is a mass category with large number of growth opportunities. You may choose to offer rare or different products that are not available in most online stores. You may choose to offer group apparels like school uniforms for students. There are thousands of other niches you can go for.
5. Social Media Consultancy
You should be found online first to become a social media consultant. You should have proper branding which permeates your social media properties and website. Social media is the eyes and ears of your client’s business. You have to suggest your clients to develop social media campaigns, such as using forums, blogs, and other features. You can also help clients manage their digital presence on social media sites like Google+, Facebook, MySpace, LinkedIn, and Twitter etc.
6. Travel Booking Portal
You can launch your own travel booking site to offer widest range of travel packages and deals like discounted cruise tickets and flight bookings, and hotel booking as well. Then all the travel bookings are forwarded and handled to your allied travel partner. Your website can serve as an affiliate to earn for each click and booking. You can increase your profit through traffic.
7. Online Food Ordering
Food home delivery is a traditional process which has been used for a long time. But you can connect your food ordering portal to a nearest restaurant through ecommerce, and let your customers to order food online. A common platform can also be created for most customers and restaurants. Consumers look for restaurants, place order, and either choose cash on delivery or pay online. For each delivery, you will get a specific commission from a restaurant.
8. Health & Beauty
Health a beauty care is a $15 billion industry, according to 2012 study. Since then, it has not shown any sign of slowing down. More and more people are concerned for their beauty and health. These days, online shopping is the first option to most customers. Around 85% of customers prefer apps over websites. So, you can get the most of it by focusing on both apps and website.
9. Online Grocery Shop
First of all, you have to buy a domain name, rent a hosting plan, and upload clear pictures of your products to the website. You also have to find suppliers who can give their products to you at lower price. You can also consider drop shipping method to your site where products can be listed as available to your site and call your supplier to supply the product to the customer.
10. Real Estate Site
It can act as a middle channel between the sellers and buyers and it can also help brokers and developers by offering a space on your website at a specific price. You can also provide details about upcoming projects and advertise them to the buyers and also gather the buyer details to share with the broker or builder. Having a real estate portal provides great benefits.