E-commerce (short for electronic commerce) is a term used for most businesses conducted over the internet. In the past ten years, e-commerce has grown by leaps and bounds. Retail establishments alone raked in more than $100 billion worth of sales online in just the first quarter of last year. And these numbers are expected to keep growing.
Many entrepreneurs are deciding to cash in on this multi-billion-dollar industry with stores and online businesses of their own. And if you’re wondering how you can be one of them, here are just a few ideas that could make you some serious money.
Health and wellness
The health and wellness industry currently does more than $4 trillion in business each year; this makes it a prime area for e-commerce. And because the industry is so large, there’s no shortage of wholesale manufacturers at your disposal. You have a lot of options for these types of businesses. One popular business model is the niche website.
Most people market niche websites by blogging about a specific health topic. And the more narrow the topic, the better chance you have of success (so long as it is a viable niche). For example, you could choose to start a blog on gut health. For this site, you could sell items you buy from wholesale probiotics manufacturers and other relevant companies. You could store and ship the items yourself or check into drop-shipping for your customers.
Teaching is a business you might overlook when thinking about starting an e-commerce business. But it can be a valuable service to offer to other entrepreneurs, business people, or anyone else who will pay to learn a new skill.
And the good news is that you don’t have to figure out how to market these yourself if you don’t want to. There are various platforms available where anyone can create and upload courses to sell. Sites like Udemy, Skillshare, and Lynda are rapidly becoming a popular means of practical education.
By 2027, it’s expected that more than half of the US workforce will be freelancing. And this is a business that encompasses almost every profession. Freelancing professionals usually offer particular services online rather than products. And the possibilities for this are practically endless.
If you are skilled at almost anything, you can sell this expertise online. Just to give you some ideas, most freelancers are writers, marketers, social media experts, photographers, or graphic designers. But large industries, such as medical and legal, are also starting to catch up with the trend.
If you’re a talented knitter, painter, designer, or artist, you might find your place in the handmade goods industry. Etsy has the market cornered on unique handmade items for sale, and this is an easy place to sell your goods as they do their own marketing.
However, you don’t have to stop there. Many of these artisans also have their own websites where they sell their products. And they even market and sell them on social media or local venues. In a world where we can manufacture almost anything, there’s a lot of room for growth in a market that offers one-of-a-kind products.
Another e-commerce business that has the potential for big earnings is party supplies. Just like with other products, one way to do this is to start a niche website. But this topic offers a little more flexibility.
For example, your blog could be a “mommy blog” that covers various parenting topics. Or you could devote it strictly to a certain type of party to drive specific traffic. You could then choose to sell these items yourself, become an affiliate partner with party companies, or check into drop-shipping.