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E-Commerce helps an individual to buy and sell anything on online websites regardless of their location. eCommerce works with technological advancements like the internet, mobile commerce, online transaction processing, electronic data interchange, etc. 

Online businesses provide direct retail sales via mobile applications, establish customers and marketplace by e-mails, engage in new product sales, business to business sales, customer to customer sales, online exchange of financial currency, etc. 

In this article, we will study the importance of online business ideas and the 5 most successful business ideas.

1. Niche Fashion/Jewelry Product Market

• Niche products will always remain strong regardless of any business. The local eCommerce niche segmentation will surge because of the introduction of technologies like beacons, robot-managed warehouses, and drone delivery systems. 

• It is crucial to start planning niche eCommerce sites that introduce a specific style of jewelry or appeal to a wider audience. Take the example of Oncheck, a fashion website that offers tribal-inspired designs from Africa to the world.

2. Smart Home Products and Accessories

• Despite the rise in the demand for smart products, not many eCommerce stores are selling these products. During the last year alone, at least 40 percent of millennials in America used a smart home speaker. This is one of the innovative e-commerce ideas that will increase to 50% . Now is the time to plan your online presence in this exciting niche.

3. Online Learning Platforms

• Online learning platforms are still evolving, providing a great niche for your business. One thing to note is the increasing number of students who will be looking for unconventional ways of accessing educational resources. 

• At this point, the field is wide open and you have your pick of academic, vocational, and other sub-niches. If you are lacking ideas, it might be a wise idea to talk to some eCommerce consultants.

4. Electric Scooters, Skateboards, and Hoverboards

• Electric scooters and skateboards have now become mainstream. This is a great opportunity to enter this market with a huge number of enthusiasts who are in search of high-quality products and accessories. 

• An important obstacle in this niche is the logistics of getting the products from the manufacturers to the customers.

5. Online Grocery and Foods 

• The profitability of the industry like the online grocery niche depends upon vendor relations and relentless drive for increasing the customer base. However, given the wide range of the products and the equally huge target market, this niche will continue to be a great eCommerce startup idea in the coming years. 

• Local sourcing is a rising trend that benefits both your business and local stakeholders. You can start small with just the local produce and products at your store. As the profits increase, you can decide on scaling up the business to make it the most profitable eCommerce business for yourself.

6. Online Fitness Coaching

• One of the best things that you can do right now is to offer online fitness coaching classes. It’s an excellent eCommerce business idea! Gyms are closed around the globe, so this is an ideal time for you to capitalize on this opportunity – start offering online fitness coaching lessons!

• Many private tutors have already begun to offer these classes, and you can take advantage of this too. Start off by offering home workouts and gain a few followers before you eventually start marketing your business in earnest.

7. Digital Marketing

• This is not exactly a product; you are selling a service. Digital marketing is in incredible demand and more and more people are looking for services in this sector. If you have skills related to SEO or anything that lies within the digital marketing domain, you can start using them right away.

• It’s a fantastic way to make more money on the side, and you can also eventually gain some long-term clients. Now more than ever, businesses need digital marketing experts for promoting their sites, and you can always profit from it!

8. Niche Subscription Boxes 

• In the last three years alone, the subscription boxes selling websites have seen a whopping 800% increase in their sales. Even in areas with established players, you have a chance to make an impact because of the simple fact that people crave novelty. Subscription boxes add this factor to the lives of many people who often opt for multiple subscriptions in different niches.

9. Podcasting 

• With a microphone, a few pieces of recording software, and a topic you're passionate about, you can monetize your own voice. More than half of Americans say they've listened to podcasts at least once. Successful podcasters can even get advertising deals, affiliate traffic, and more.

10. Affiliate marketing 

• Here, you recommend another business' products or services in return for a commission each time a sale is made. This business model has seen continued growth every year and many major businesses are participating in it. 

• Essentially, you can generates passive income. Many online eCommerce platforms and online marketplace have their own affiliate programs. You'd be amazed how writing content can build your revenue so much that you have to invest in eCommerce accounting software.

11. Drop-Shipping Store

• Drop-shipping is the most profitable eCommerce business idea. It helps an individual to sell trendy products from the marketplace to customers around the world. You can sell any type of products, from fashion to technology and home décor to beauty products. It is a small business idea that can make a fortune. 

• Several online websites can help you start a drop-shipping store like Oberlo, where you can simply log in or become a member. These websites tie up with individuals to help deliver the product to customers and drop-shipping stores earn a commission as per the price of the package. 

12. Educational Courses

• Successful entrepreneurs and individuals can share their knowledge with an educational course. Real-life examples are high in demand, and people are more willing to learn from their experience. People can build online websites that sell educational courses in a particular niche. 

• Creating an education course can help to increase income. It doesn’t require any up-front investment. An individual can make a course anywhere and can sell online or upload it on websites like LinkedIn for better reach. 

• Educational courses are a royalty deal that you can have by putting them online for people to purchase. The right pricing of the course is also important. If the prices are not right, many people will not buy.

13. Start a YouTube channel

• Popular YouTubers make massive amounts of money in ad revenue from viral videos. All you need is a camera and an idea – it’s entirely free to create an account and publish videos.

• The key to success on YouTube is to find your niche. With so many people doing it, you need to offer something different. Lifestyle, health, fitness, and beauty are already very saturated markets – try and find something a little different to stand out.

14. Start a blog

• For creatives, writers, or anybody with a keen interest in a particular field, building a blog is for you. It’s a place where you can share valuable or entertaining information to attract a loyal readership.

• Building a profitable blog requires the creation of regular, high-quality content to keep readers coming back. You’ll also need to decide on a niche – millions of blogs exist on the internet and to grow your reader base you’ll need to narrow down your target audience. Choosing a niche is also critical for attracting advertising, which is where you can make good money from your blog. Creating a readership in a particular area will encourage relevant businesses to pay to advertise on your site.

• The most commonly used free content management platforms for blogging are WordPress, Blogger, and Tumblr. Once you’ve built a loyal readership, you can consider adding extra content for subscribers and charging a small monthly subscription fee as an effective way to increase your blog’s revenue.

15. Create and sell stock photos

• Creating stock photography consists of producing images that you can sell through a stock agency to individuals or businesses, who purchase the rights to use the content for their website or marketing.

• This business is an excellent option for anyone with a passion for photography or a creative eye. Once the photos are online, you’ll earn a tiny amount of money every time the images are purchased or downloaded. However, it’s not without its risks – talented photographers have been known to upload high-quality content and receive very few sales.

• A top tip is to keep an eye on social and business trends and respond to market demand. Brush up on your keywording to make sure you appear in as many searches as possible.

How to Start Your Online Business In 10 Steps ?

Now that you have decided on the business model, let’s zoom in on the operational aspects of starting an online business.  

• Determine your niche and business idea.

• Conduct product research. 

• Learn about online business laws. 

• Conduct market research.

• Define your target audience. 

• Source products to sell online. 

• Evaluate product viability. 

• Define your brand and image. 

• Launch your online store. 

• Grow your business. 

Wrapping Up

Starting an online business doesn’t have to be overwhelming. Take it one step at a time. First, research an eCommerce niche and in-demand products. Next, figure out your business model and fulfillment strategy.

Afterward, start setting up your online business. Choose an eCommerce platform, configure its design and add products to your catalog. Focus on driving traffic to your online store.

Once your business is up and running, make sure to collect as much data as you can. Then analyze that data to better understand what works and what doesn’t. Adjust your business strategy accordingly.

And don’t worry that you don’t know everything that there is to know about eCommerce. No one does. We are all learning as we go!

Sign up for Trawex Online Business Ideas free of charge. Choose an online business that fits you. Work independently, create your own schedule and the great news is all you need is a computer and/or mobile device with an Internet connection. You decide when and how much you want to work and earn online – based on the type of online business you decide to start.