A new year is a new beginning and the best time to start your ecommerce business.
Why? Because of the rapid pace of innovation, low setup and management costs, and easy access to shipping facilities. According to Hufffingtonpost, ecommerce revenues are expected to reach an all-time high of $460 billion in the 2018.
The number one worry that stops many people from launching their business is the saturation of the market. What product could your business sell in 2018?
To answer this question, I scoured the web and compared ecommerce ideas that have proved to be a success in the market. My emphasis was on products that still have potential to capture the market.
Here is a list of products that are expected to be great hit in 2018 (and beyond!).
Niche Fashion/Jewelry Product Market
Niche products will always remain strong regardless of any business. With that said, the year 2018 will see more niche ecommerce stores popping up. The local ecommerce niche segmentation will surge because of the introduction of technologies like ibeacons, 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.
Smart Home Products and Accessories
Despite the rise in the demand for smart products, not many ecommerce stores are devoted to these products. In the last year alone, at least 40 percent millennials in America used a smart home speaker. This trend will increase to 50 percent in 2018. Now is the time to plan your online presence in this exciting niche.
AR/VR Headsets, Apps, and Accessories Store
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 are going to invest and build AR/VR apps in the coming months as the growth of VR/AR is estimated to reach $108 billion 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.
Vape Hardware, Flavors, and Liquids
The vape industry is fast become highly lucrative as the vaping become a mainstream hobby. Already there are dedicated communities around various aspects of vaping. Although thousands of vaping focused ecommerce stores are already active, there is still a gap in the lineup of stores that cater exclusively to local communities.
Online Learning Platforms
Before you say, ‘there are already many education portals available…,’ just keep in mind that where there is demand, there is no cap or entry restrictions. Online learning platforms are still evolving, providing a great niche for your business. One thing to note in 2018 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.
3D Assets Stores
Three years ago, Unity – a 3D cross-platform game engine – launched its own asset store. Today, 3D assets are fast becoming 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. Put the assets for sale or a monthly or yearly subscription.
Electric Scooters, Skateboards, and Hoverboards
Electric scooters and skateboards have now become mainstream. This is a great opportunity to enter a market that has a huge number of enthusiasts that are in search of high quality products and accessories. An important obstacle in this niche is the logistic of getting the products from the manufacturers to the customers. Dropshipping is a great way of lowering the cost of setting up the business in the niche.
Online Grocery and Foods
The profitability in this 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 business idea in coming years. Local sourcing is a rising trend that benefits both your business and local stakeholders. You could start small with just the local produce and products at your store. As the profits increase, you could decide on scaling up the business.
Niche Subscription Boxes
In the last three years alone, the subscription boxes selling websites have seen an 800 percent 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.
If you can connect with a lapel pin manufacturer, setting up an enamel pin business will be worth it in 2018. 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.
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 2018. I hope that you would be able to make an informed decision, and reap profits from the snowballing factor of online commerce.