As the Internet continues to evolve, it’s made it much easier to buy and sell goods and services online, anywhere in the world. In the past, launching a new business was a daunting task, especially when it came to finding funding for your startup. Business founders would have to resign from their current job and get a loan from a bank before they could begin their new venture. Now, anyone who takes the time to start an e-commerce business can quickly begin seeing profits. Nowadays, you can build an eCommerce company with marginal risk.
Check out some top eCommerce business ideas for 2019:
Starting a dash cam business is a good idea, and these cameras will continue to evolve as they are practical and gaining in popularity. UK dash cam sales in 2014 increased by 91%. More importantly, many insurance companies tend to accept cameras as credible evidence of claims. By the year 2020, the global dash industry is expected to grow to $4 billion.
Online Grocery Stores
The profitability of the online food industry rests on its relationship with its suppliers and its ongoing efforts to expand its market share. However, many industry experts are saying that this niche market is primed for launching an e-commerce business in the coming years. As a sub-niche, local food delivery is a growing trend. This would be a good area to focus on initially, then as profits grow, you can expand your market into nearby regions, cities, states/provinces, and even globally.
Online Education Platforms
Before saying “But there are already so many educational sites available!” please remember there’s always going to be a need for education, and more students come into that marketplace every day. Online education platforms are continuously evolving and this means there’s always room for unique ideas in this niche. Perhaps you could focus on the desire of students to look for non-traditional ways to access educational materials. This industry is expected to grow to a whopping $325 billion by 2025, so now’s a great time to work towards a piece of that enormous pie.
Smart Home Products
Despite the increasing demand for smart home devices, not as many eCommerce stores sell these products as one might imagine. In 2017 at least 40% of millennials in the United States used voice activated assistants for purchase research. The smart home industry is growing rapidly, so it’s definitely worth serious consideration for your new ecommerce business.
Although we just talked about smart home devices, and video doorbells are definitely part of this industry, they’re becoming so popular that they merit discussion by themselves. Some of the benefits of these devices include:
- Deterring burglaries – there’s been multiple studies proving that video doorbells reduce break-ins.
- Tracking deliveries – you can be automatically notified to your smartphone when a delivery is made and you’re out of the house.
- Screening visitors – video doorbells make it easy to keep unsolicited sales representatives away.
- Home value increase – by adding one of these devices to your house, you increase its sales value, as buyers love new technology.
- Lower insurance premiums – many insurance companies will give you a discount if you have one of these security devices.
Conclusion & Next Steps
Hopefully these e-commerce business ideas give you some inspiration for your new startup! Got other ideas you’ve heard about lately? Mention them in the comments below 🙂
Once your new e-commerce business is off the ground, here’s some Standard Operating Procedures that will help you with marketing.