Thinking about starting an Highly Profitable Ecommerce Business but don’t know how to get started?
Well, you’ve come to the right place.
To start a highly profitable eCommerce business, you’ll need to first come up with an idea that’s not only legit but also works BEST for you.
And the good news is, there is more opportunity in the eCommerce industry than ever and you should definitely take advantage of that.
According to Statista, over 1.92 billion people regularly shop online these days, which ultimately proves that there is indeed a lot of potential for new eCommerce businesses.
So, if you’re still having second thoughts about whether you should pursue your dream of starting your own eCommerce business or not, I’m here to tell you that you most certainly should!
And to help you get started FAST, I’ve already conducted thorough research and found 5 most profitable eCommerce business ideas that have already been proven to succeed in the eCommerce market.
Here’s the list of 5 eCommerce business ideas that are definitely worth consideration, time, and investment with high-growth opportunities in the years ahead.
5 Highly Profitable eCommerce Business Ideas to Start in 2020
To help you save your time and efforts, I’ve already picked the top 5 ideas to start an eCommerce business.
Read them through, identify which one you connect with the best, and then get started with it.
1. Smart Home Devices
Despite the sudden spike in the demand for smart home devices, very handful of eCommerce businesses are selling them.
According to Statista, the smart home devices market will cross 40 billion USD in the U.S. alone by the end of 2020. What’s even more interesting is that 57% of Americans already own a smart home device and interact with it for about 30 minutes a day.
In fact, 70% of millennials who already own one smart home product are also planning to purchase a second one.
These stats already prove that there is definitely a lot of potentials for a new eCommerce business to thrive in the smart home devices market.
So, if you’re a technology enthusiast, you should definitely consider starting eCommerce business selling smart home devices.
2. Fitness Equipment & Nutrition Products
Fitness & Nutrition is one of the most stable, highly-profitable, and an evergreen industry.
With every year passing, more and more people are getting engaged in a healthier and active lifestyle, which gives eCommerce entrepreneurs an ample amount of opportunities to enter the market and thrive.
Currently, the fitness industry has reached $17,937 million US dollars and it’ll accelerate at a 4% annual growth rate, resulting in $20,973 million US dollars by 2024.
And the best part about the fitness industry is, there is a wide range of products you can consider selling, from home gym equipment & accessories to different types of nutrition products and apparel items.
So, if you’re a fitness nerd, you should definitely consider entering the fitness industry with your own eCommerce business.
3. Smartphone Accessories
The smartphone industry has seen a steady growth in the last decade, which makes smartphone accessories among the most lucrative eCommerce business idea that you can opt for.
According to the latest report, the worldwide smartphone accessories market is expected to reach $121.72 billion US dollars by 2025 with an annual growth rate of 7%.
I know you must be thinking that the smartphone accessories industry is already saturated.
While it’s true, but there is still room left if you can get a little creative and do things differently than the competition.
Moreover, there are probably thousands of products available to sell such as phone cases, phone decor items, chargers, screen protectors, headphones, headsets, gloves, car chargers, and lots of others, which can easily increase your chances of success.
So, if you’re interested, you can go right ahead and start searching for the best smartphone accessories and begin your eCommerce journey.
4. Online Grocery Store
Nowadays, technological advancements have changed people’s lifestyles so much so that they now prefer ordering essential items (including groceries) online.
And this is another great idea for starting a profitable eCommerce business.
The online grocery market is wide with lots of opportunities and the potential profit is also excellent. For example, you can easily earn about 20-40% from sales if you build alliances with the right vendors and farmers.
According to a report by Business Insider, the worldwide grocery market size crossed the $600+ billion US dollar mark in 2018.
The same report also revealed that 10% of American consumers have already started doing their grocery shopping online regularly.
Another report revealed that as high as 47% of millennials now shop for groceries online.
All this data clearly shows that the online grocery industry will definitely become one of the greatest eCommerce business ideas in the coming years.
And right now, it’s the perfect time to join the bandwagon of online grocery providers and make the most out of it.
5. Sell Baby Rompers
Babies are cute and so are the baby rompers.
In fact, it’s probably one of the highest in-demand baby products worldwide, which makes it a great eCommerce business idea as well.
Today, 20% of baby product sales have already started taking place online, and the same is expected to rise in the coming years.
So if you feel it’s the right idea, then you should definitely consider selling baby rompers on the internet. Best yet, you can also consider selling additional baby products as well as maternity products to scale your eCommerce business and make more money.
For example, you can start an online baby products’ store and add baby rompers as a trending product category and keep adding new varieties to attract more sales and eventually become the one-stop-shop for baby products in your target region.
What Works Best for You?
So, now that you know the top 5 highly profitable eCommerce business ideas and their potential in the coming years, it’s time for you to make a decision and launch your eCommerce business.
I hope that with this list of ideas, you can now easily start your eCommerce business with the right SMB solution and become successful.
That being said, if you have any questions, I’d be happy to answer them in the comment section below. Checkout the Best eCommerce Blog here.
Ankita is the Sr. Content Writer at MageDelight. She has a profound interest in Content Marketing and advancements in technology. She is an eCommerce evangelist who loves to share her insights on eCommerce.