In the past year, the pandemic has affected many different industries in the world and created a huge disparity between fields. Ecommerce is one of the industries that have the fastest growth thanks to the regulations on social distance. Residents have to stay at home 24/7 and purchase mostly through online platforms, making their lives almost tied to smartphones and the Internet. In this article, we will summarize the top 10 ecommerce business ideas 2021.
Table of Contents
- Introduction of ecommerce business
- Top 10 eCommerce business ideas
- eCommerce business idea #1: Cosmetics, pharmaceuticals
- eCommerce business idea #2: Second-hand products
- eCommerce business idea #3: Smartwatch and accessories
- eCommerce business idea #4: Smart home systems and accessories
- eCommerce business idea #5: Online courses and eBooks
- eCommerce business idea #6: VA service (virtual assistant)
- eCommerce business idea #7: Entertainment service
- eCommerce business idea #8: Food delivery
- eCommerce business idea #9: Creative services
- eCommerce business idea #10: Solution in payment
- How to make eCommerce business ideas come true?
Introduction of ecommerce business
What is an ecommerce business?
Ecommerce is a term used to refer to business activities, purchases, and sales of products or services taking place on the Internet, especially through websites. Ecommerce activities can take place between businesses and businesses or between businesses and customers.
Ecommerce has soared in popularity over the past decades and in this way it displaces the companies that operate in an actual store. Ecommerce allows you to buy and sell products on a global scale, 24/7 without incurring the same costs as running an actual store. To combine the best marketing and best conversion rates, an ecommerce venture also needs a physical presence, which is known as a business that sells both online and offline.
Ecommerce includes two basic elements
Online shopping: Including all the necessary information to provide customers, providing a reasonable buying solution. This concept can also include product review & purchase actions of customers.
Online purchasing: Including technological infrastructure for data exchange for transactions and purchases on the Internet. These are the systems that make the activities/purchases on the Internet go smoothly.
Types of ecommerce business
In general, there are two types of ecommerce merchants:
1. Physical product sellers: It is the buying and selling of physical products through some electronic devices. For example, you can sell products from any of the following niches: fashion, accessories, home appliances, toys, etc.
2. Digital Products Store (downloadable products): If you have ever bought an online course, this is a digital product category. As a general rule, if the product must be accessed through the online membership area or if it has to be downloaded, it could be a “digital product”.
How to divide eCommerce by groups of subjects
Ecommerce is divided into several categories such:
- B2B (Business to Business): Participants in e-commerce activities are usually large businesses/companies. Understandably, the buyers and sellers in this model are both businesses.
- B2C (Business to Consumer): Participants in e-commerce activities include business sellers and consumer buyers (customers).
- C2C (Consumer to Consumer): Participants in e-commerce activities include individuals, both buyers and sellers are individual businesses.
- There are also G2C (Government-to-Citizen), G2B (Government-to-Business), etc. but these forms are less popular and less used.
Top 10 eCommerce business ideas
eCommerce business idea #1: Cosmetics, pharmaceuticals
It can be seen that cosmetics and pharmaceuticals are currently the two areas with the highest sales in the world, while also attracting the largest number of customers on both online and offline channels. For online channels, or more specifically ecommerce platforms, business owners are often young entrepreneurs since more than anyone else, they are the most suitable people to run this product line.
All you need to do is focus on providing a better user experience because customers will actively seek your brand. Thanks to the explosion of today’s social media and the effects of the COVID-19 pandemic, people are increasingly interested in their beauty and health. Therefore, this will be an opportunity for all the cosmetic and pharmaceutical brands to grasp.
eCommerce business idea #2: Second-hand products
The trend of exchanging used goods is not new with buyers nowadays. However, it is growing since the explosion of technology and the rapid release frequency of new product lines. It is common to be attracted to newer models after using which we just bought a few days and it produces a dramatic increase in the volume of products becoming second-hand while still having good quality.
In fact, not everyone can afford to buy new items or are willing to pay extra just to own a shiny product like 100% new. Instead, they pay more attention to use products that are still good quality. This is opening up the opportunity for platforms that sell second-hand online to be more profitable. Just make sure you are following the rules about selling second-hand and have a checklist to regularly check the items for sale.
Not only selling conventional products, but many other platforms offer products such as Credit Cards, Online Software, etc. You can refer to famous platforms such as Capital One, Ahrefs & Shopify, etc.
eCommerce business idea #3: Smartwatch and accessories
Not only smartwatches but all the accessories related to them are receiving the attention of many people on e-commerce shopping platforms, from popular products (normal strap) to the smartest categories with the most advanced products with full features on the market.
People use smartwatches for many different reasons, from tracking daily sports activities to planning each day, viewing messages, receiving and answering calls, etc. For both of these different needs and preferences, sales of smartwatches and related accessories are expected to reach $73 billion by 2022.
As a result, this type of growth makes watches and smart accessories one of the most worthy ecommerce business ideas this year.
eCommerce business idea #4: Smart home systems and accessories
The Internet of Things (the network of things connected to the Internet) has been around for a long time. This innovative intelligent system is not only being adopted on a large scale but also reshaping the way retail businesses do business.
There are a few simple examples of IoT such as automatically garage door opening systems when you drive home, automatically ordering food online, or robot vacuuming and cleaning house automatically.
Despite increasing customer interest and demand for IoT-related products, the number of retailers offering this product line is still very limited. Therefore, this will be a great ecommerce business idea for retail businesses in the coming year.
eCommerce business idea #5: Online courses and eBooks
Learning something new always requires quality learning and teaching. Especially when COVID-19 appeared, the demand for quality educational materials on online platforms was increasing more than ever.
The teaching content is also extremely diverse, from the curriculum of college students, high school students, etc. to home cooking courses, online art courses, etc. There are many options and niches for you to discover and sell your expertise through ecommerce platforms.
So businesses can take advantage of this appropriate moment to provide unique materials, expertise, and teaching content that viewers cannot find on other platforms, thereby creating different ecommerce business ideas for your business.
eCommerce business idea #6: VA service (virtual assistant)
As an e-commerce business grows at an unprecedented rate, entrepreneurs need the help of their assistants to arrange their work. The tasks of these assistants include finding new products, writing descriptions, comparing, etc. Many organizations have taken advantage of the opportunity to provide assistant services at affordable prices for established ecommerce businesses.
In the beginning, you can “sell” your online assistant position at a softer price than the market to build a name, then you can increase your price and working hours depending on your business according to negotiation between the two sides.
eCommerce business idea #7: Entertainment service
With the rapid development of technology, the demand for entertainment services is expected to increase in 2021. Especially for children, online toys and games have changed a lot and have huge investment potential. Many small business owners have already started a business with entertainment products and this is one of the top ecommerce business ideas 2021.
eCommerce business idea #8: Food delivery
One-time orders or payment models may be used to provide the meal delivery service. In a society that is getting extremely busy and busy, many workers can pay a little more money to make convenience. The most common food supplies are frozen foods, meal-making kits, and fresh foods. You could find dedicated consumers and make a profitable ecommerce business idea if you can fill in a niche in the region (gluten-free, vegan, paleo, etc.).
eCommerce business idea #9: Creative services
Usually, the best ecommerce business ideas are based on selling products.
You can also be successful by selling useful services online.
- Graphic design: Give your skills to startups trying to find their brand identity. You can get paid for logo design, typography, or branding instruction.
- Product design: If you are a seasoned expert in innovating goods for sale, looking for businesses that want to outsource this service.
- Writing: Set up a website that shows your flair with words. You can find copywriting deals in all industry categories, like marketing and retail.
- Interior consulting: You can fulfill both business and personal needs with this one. If you’re a qualified interior designer, sell that skill.
eCommerce business idea #10: Solution in payment
The problem of online buying and selling is more and more familiar, but the issue of payment and delivery is still a challenge for both sellers and buyers. Many people lose large sums of money without even receiving the goods they purchased. If you have the knowledge and understanding of the field, you can create a payment platform, where you will act as an intermediary between the seller and the buyer. Your mission is to deliver the goods to the buyer on behalf of the seller and make the customers happy with the products and services you bring.
How to make eCommerce business ideas come true?
Research and explore niche markets
Without proper research, you cannot know the current market situation; therefore, it is necessary to start with real research. After researching and researching, you will discover the niche and find a path and ecommerce business ideas where you think you can build a foothold on your own and show your strengths to the world.
Choose a business name and consult a legal professional
The name a person chooses identifies themselves and their company; therefore, you need to pay due attention to choosing an innovative and unique name that makes you stand out from other companies in the same niche. You may also need to consult a legal expert to help you build the legal structure of the business.
Choose an e-commerce platform and create a unique website
The most important thing when starting an ecommerce business is choosing an e-commerce platform. To develop an e-commerce store, much attention should be paid to choosing an e-commerce platform to help businesses with website management, inventory, sales, operations, and marketing.
This platform is like comprehensive software to take care of your online store management requirements. The website is the face of the business and you have to create a unique website that is different from other competitors’ websites.
Sourcing or listing products
This is also one of the most important aspects of running an ecommerce business. Traders can manufacture their products or choose to source products through distributors, or they can simply list their products and services on the business website.
Once the website is ready to run, to grow, traders must promote the marketing of that business effectively.
Lists of marketing strategies like social media advertising, word of mouth, Google advertising, and many other online marketing strategies and techniques that can help online businesses grow and move closer to their business goals.
It can be said that ecommerce is the future of commerce. Nowadays, many businesses are running the company only through a smartphone, and the form of mobile payment is no stranger to everyone. All of the above examples are the best examples of the ecommerce business ideas for the future.
As a result, there will be a wide range of opportunities and challenges open to all small and large businesses. Hopefully, the above article will help businesses grasp the business areas that tend to boom in the market in 2021.