[UPDATED] The fact is that there is no perfect time to start your ecommerce business. It is because it isn’t the business but the idea itself that turns a business from rust to gold.
While most people are comfortable with launching their ecommerce business because of rapid innovation, low costs, and shipping facilities, but the number one worry that stops them in their tracks is, what idea to pursue? And, most importantly, what products to sell?
To answer this question, I scoured the web and compared different ecommerce business ideas that have proven to be a success in the online market based on their disruptiveness, current trends, and success rates.
Here’s a list of best ecommerce businesses worth your time and investment with great opportunities in 2020 (and beyond!).
Top Ecommerce Business Ideas of 2020
- Fashion/Jewelry Product Market – Niche Example
- Smart Home Products and Accessories – Business Idea
- AR/VR Headsets, Apps, and Accessories Store – Business Idea
- Vape Hardware, Flavors, and Liquids – Niche Examples
- Online Learning Platforms – Startup Business Idea
- 3D Assets Stores – Business Idea
- Electric Scooters, Skateboards, and Hoverboards – Niche Example
- Online Grocery and Foods – Ecommerce Business Ideas
- Niche Subscription Boxes – Niche Example
- Enamel Pins – Ecommerce Product Idea
- Selfie Drones – Niche Example
- Smart Watches – ecommerce Product Idea
- Dash Cam – Business Idea
- Video Doorbells – Business Idea
- Baby Rompers – Ecommerce Product Idea
#1: Niche Fashion/Jewelry Product Market – Niche Example
Niche products will always remain strong regardless of any business. Having said that the year 2020 will see more niche ecommerce stores popping up. 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 Onychek, a fashion website that offers tribal-inspired designs from Africa to the world.
#2: Smart Home Products and Accessories – Business Idea
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 millennials in America used a smart home speaker. This is one of the innovative ecommerce ideas that will increase to 50% in 2020. Now is the time to plan your online presence in this exciting niche.
#3: AR/VR Headsets, Apps, and Accessories Store – Business Idea
It is unfortunate that Augmented / Virtual Reality (AR/VR) took this long to become available to the masses. But, now, the demand has gone up considerably after initial user adoption. This means more companies will invest and develop AR/VR apps in the coming months as the growth of VR/AR will approximately reach $108 billion sales mark by the end of 2022. This niche offers you a chance to become an early advocate of an exciting technology that will soon become an important ecommerce business.
#4: Vape Hardware, Flavors, and Liquids – Niche Examples
The vaping industry is fast becoming highly lucrative business idea as the vaping become a mainstream hobby. Although thousands of vaping-focused ecommerce stores are already active, there is still a gap in the lineup of stores that can cater exclusively to local communities.
#5: Online Learning Platforms – Startup Business Idea
Before you say, ‘there are already many education portals available…,’ just keep in mind that where there is demand, there are no cap or entry restrictions. 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 going into 2020.
#6: 3D Assets Stores – Business Idea
Three years ago, Unity – a 3D cross-platform game engine – launched its own asset store. Today, 3D assets have become a hot commodity, with an increase in the trade of 3D assets for games and AR/VR apps. The good thing is that you can launch your own 3D assets store by adding assets from third-party developers or (preferably) by making your own. You can put the assets up for sale or a monthly or yearly subscription.
#7: Electric Scooters, Skateboards, and Hoverboards – Niche Example
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. Dropshipping offers a great way to lowering the cost of setting up the business in the niche.
#8: Online Grocery and Foods – Ecommerce Business Ideas
The profitability of the industry like 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.
#9: Niche Subscription Boxes – Niche Example
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.
#10: Enamel Pins – Ecommerce Product Idea
If you can connect with a lapel pin manufacturer, setting up an enamel pin business will be worth it in 2020. Custom made enamel pins are fast becoming a huge business, and you can go in either a particular design offering or serve the customers as they come to your store.
Check out how the interest in enamel pins has risen over the years.
#11: Selfie Drones – Ecommerce Product Idea
The selfie drones are one of the best ecommerce products that have become a growing trend. From drones that deliver packages to farmers who keep an eye on their crops to videographers – capturing aerial shots, the demand of this product is growing with each passing day. Selfie drones allow individuals to easily capture pictures from different angles without the need of a selfie stick. By 2020, the industry is likely to grow up to $127 billion in sales.
#12: Smart Watches – Ecommerce Product Idea
In 2018, the smart watch sales figures hit the 141 million unit mark globally. The smartwatch industry almost grew up to an astonishing $19 billion in sales internationally.
The prediction for 2020 is that this product will earn upto $53.2 billion in sales across the globe. Whether you use it to track the footsteps or planning your day, innovation is the name of the game for smart watches – which is why the demand will also increase in the following year. It’s safe to say that this particular startup idea has great potential and can be your winning product for 2020.
#13: Dash Cam – Business Idea
Launching a Dash cam business is a great idea and it will continue to prosper because these dash cams are practical and come with a viral element. In 2014, dash cam sales increased by 918% in the UK. Furthermore, many insurance companies also tend to accept dash cam videos as legit proof of claims. By 2020, the dash cam industry will probably grow up to $4.03 billion globally.
#14: Video Doorbells – Business Idea
Video doorbells have been garnering popularity in recent times and have become a trending business idea. With the rise of video phone calls, it makes sense that people will also want to see who’s at their door on a screen. It works great as a security device and will perform wonders if it also offers high-quality night vision.
#15: Baby Rompers – Ecommerce Product Idea
Baby rompers are cute. Everybody loves them which is why they prove to be a great product as they’ve proven to show strong search volume. If you have an online store that covers the infant/baby cloth niche, you can add baby rompers within your trending product category.
Also, you can easily sell maternity products as well. To spice things up, feel free to sell baby toys or children’s clothing. Adding variety will allow your ecommerce store to become a one-stop shop for parents.
Latest innovations, upward trends, and ever-green products, I have tried to cover all major areas that offer the best opportunities for starting ecommerce business in 2020. I hope that you would be able to make an informed decision, and reap profits from the snowballing factor of online commerce.
Convert Traffic into Buyers with Managed Ecommerce Hosting
See your business grow without worrying about server management!