With more and more customers turning to the internet to do their shopping, now is a better time than ever to take your next business venture into the digital space. There are many benefits that come with starting an ecommerce business instead of a physical one.
This includes the ability to reach a much wider audience, less employees to hire (if any at all), higher profit margins, a variety of innovative and intuitive platforms to use, a plethora of resources and much lower startup costs, especially for drop-shipping ventures where you need minimal to zero investment when starting off.
The biggest challenge for entrepreneurs getting into the ecommerce industry is choosing a niche. To make it easier and to inspire you, we’ve put together a list of the most profitable ecommerce niches to base your business on in 2019 and beyond.
Micro-Niche
The benefit of going for an even smaller niche is that you can build a dependable customer base and spend much less on marketing, as you can directly target your audience with today’s marketing methods. This can include anything from custom-printed accessories to gluten-free or vegan foods to hobbyist collectables. It’s all up to your imagination!
CBD Oil
You don’t have to be in-the-loop to know that CBD oil is all the rage right now. With changes in regulations and advancements in research, an increased awareness of the health benefits that cannabis-related products have is making CBD oil a hot seller among a wide variety of consumers.
Your main cost when starting this kind of business will be your initial supply of products, which is why it’s important to find a reliable, affordable and high-quality CBD oil distributor. Here’s a great example of a CBD wholesaler that has everything from hemp seeds CBD to oils and powders.
Industrial
While selling to consumers through online retail can be highly profitable, business-to-business ecommerce ventures often have even higher profit margins. Plus, you don’t have to spend much on marketing, which is another major expense. This makes selling equipment, supplies and services to other businesses online a potentially lucrative venture.
Niche Fashion
Fashion is forever evolving and we’re seeing an explosion in subcultures where many people are taking an interest in unique styles. This is why niche fashion is one of the most highly recommended ecommerce business ventures. Your company will serve people with hard-to-fit or hard-to-find needs that can’t be fulfilled at their local retailer.
If you have an eye for trends, you could base your business on one that’s currently doing well or, even better, one that will soon be highly lucrative. The great thing about fashion is that there are a countless number of approaches for you take. For example, you could go for low-cost, high-quantity affordable fashion or designer garments with high profits.
As you can see, there’s a lot of potential in ecommerce and it will only grow from here. Therefore, it would be wise to get on the road as soon as possible. It may take a few months or years before your idea comes to fruition, but it will be well worth the effort.
