Top 10 Highly Profitable E-Commerce Business Ideas
eCommerce Business Ideas
E-Commerce is a business trending at present due to the increased convenience that it provides to the customer. All the activities of commercial transactions which include transfers, Supply Chain Management, electronic marketing, EDI, and distribution of goods and services are integrated by an electronic system. These convenience and quick buying decisions make e-commerce businesses achieve scale much faster than their brick and mortar counterparts.
E-commerce refers to the science of buying and selling goods and services over an electronic network, known as the internet.
According to a survey done by the Indian Government in 2021 which shows that demand is at a continuous growth of 12.79 % a year. Current active e-commerce penetration in India stands only 28%, with lots of room for improvement, India's retail e-commerce is projected to reach 23% from 2016 to 2021. If you are looking to start an eCommerce store then here are some business ideas which you should try out.
You can also have a look at our list of Business Ideas With Low Investment and High Profits
E-Commerce Business Ideas
Fashion products/service
Online Food & Grocery Services
Travel Agency Business
Online Health Services
Artificial Intelligence
Startup Consultant
International Shipping
Online Interior Designer
Pet Care Job
Online Education Services
Conclusion
FAQ's
Fashion products/service
With the increase in the demographics of people who live an urban lifestyle where time and convenience is more valuable than money, people rely on an e-commerce website to fulfill their fashion need.
Especially in the Fashion industry, there is a huge demand for niche products and services. This makes niche fashion websites massively popular as they serve their audiences with the latest trends. Even though the fashion industry is pretty crowded, there are still people who can't find what they are looking for.
Creating quality brands that specialize in simple and minimalistic clothing is one such niche that targets the millennial demographics and could be a profitable business opportunity.
You can start your own e-commerce website by using WordPress and Wix and other platforms.
Also Read: 10 Best Online Marketing Tools for your Business
Online Food & Grocery Services
One of the most lucrative markets after 2020 is the online food and grocery business. This market has continued to develop as mobile apps become increasingly popular and are used by billions of people.
Given the wide range of products and equally huge market, the food and grocery industry is far from saturation. More and more people in urban areas are quickly shifting towards local produce and markets. As we can see, consumer behavior in the food industry is transforming thanks to emerging technologies and e-commerce trends.
As an entrepreneur, you can start small with local vendors and produce. Once your profits increase, you can easily scale up your business by establishing and improving relationships with your vendors.
Ashwini
Travel Agency Business
A large number of Millennials wish to travel. Although, the process of travel is complicated by the lack of information about the destination they are traveling to and other hassles such as accommodation and transportation. This opens up a huge demand for online travel agencies which can incentivize the traveler and book hotels and transportation in a jiffy as well as providing curated content about the destination, hence making the life of the traveler easy!
The precious time saved in planning for a trip makes this business solve a huge problem for millennial travelers. The e-commerce business has flourished in this segment and a very personalized service curation is required in this segment which can give you the best customers for your business. The travel industry is all about how satisfactory your customer’s trip was. So, while starting up with this be quality-oriented.
Online Health Services
Unsurprisingly, even the healthcare sector has begun to creep into e-commerce territory with apps like Practo, Doctor2U, and YourDoctors. Even though each service works on different business models, the underlying concept is the same: doctors offer advice over text or chat to patients.
By making this service online, the need to physically visit a doctor is eliminated which saves both your time and your doctor's. However, this does not substitute the need for in-person visitations but is useful to determine if an examination is necessary or not.
Artificial Intelligence
This idea may sound strange, but this is very helpful for everyone. You can create a startup business with the concept of artificial intelligence. It enables companies to gather as well as investigate data in real-time, thus facilitating more efficiency and competence in business.
The customers are provided with a personalized experience of knowledge about their preferences. Some examples of Artificial Intelligence in e-commerce are
- CRM
- Internet of Things(IoT)
- Chatbots
- Product Content Management
Devashish Shrivastava
Startup Consultant
In the upcoming ecosystem of startup businesses, startup business consultants have a major role to play. A large number of people starting a new business do not understand the nitty-gritty of starting up a new business and need online experts who can advise them in the right direction to make the process of starting up seamless. People prefer online consultants these days as they look for solutions on the internet with the advent of the digital revolution.
International Shipping
The lack of services in the field of shipping to and from overseas has made many people complacent with online shopping from Indian e-commerce. This presents a huge opportunity for international shipping startups that can book pickups at the mere click of a button.
An international shipping startup can be an alternative for sending products overseas or bringing in goods from abroad. With international shipping, people will be facilitated in terms of delivery of goods and increase the convenience of the globalized Indian online consumer.
Also Read : List of Logistic startups in India
Online Interior Designer
Interior designing is important for people who want to have a new home, but can not afford to employ an architect. An interior designer is someone who has the creativity, skills, and knowledge required to design a beautiful and functional space. Online interior designing is a practical as well as cost and time-efficient solution to make a structure of the house and a model home desired by the user at the convenience of their home internet.
Online Education Services
If you have expert knowledge of a subject, industry, or simply found a new way of doing things, then why not take a course about it?
With expected sales at $286 billion in 2023, a whopping 80% growth from the figure recorded in 2017, this makes for a good online business.
People are disappointed in both private and public educational institutions. One tends to be very costly and can only be afforded by a few while the quality of education in public institutions is dismal. Although there are many online courses, the demand for good and cheap education is at an all-time high.
Also Read: How does Crowdfunding Work to Raise Money for Startup
Conclusion
Basically, to start any business a person needs passion and constant dedication. A person should be able to identify specific demand and the target customers for his products and services. We hope this list of online business ideas will help you to start your own business.
E-commerce - FAQ's
What are the features of E-commerce?
The features of e-commerce are non-cash payment, service availability (24*7), Improved sales, support, advertising and marketing, inventory management, communication efficiency, faster, reliability, less time-consuming, on-the-go service, and saving time. It is available at any time and anywhere, helping in making better management of products and services.
What are the different e-commerce business models?
The different e-commerce business models are Business to Business (B2B), Business to Consumer (B2C), Consumer to Consumer (C2C), Consumer to Business (C2B), Business to Government (B2G), Government to Business (G2B) and Government to Citizen (G2C).
How does e-commerce work?
When a customer needs any product to buy, a customer goes to the website and chooses the product that he wants to buy. After the selection of the product, a customer will select the mode of payment whether it is online or offline and after that product will checkout and order. The ordered products information has been exchanged with the customer and delivery logistics. This process is being done in just a matter of minutes only. For e-commerce enablement, getting internet merchant bank account, webs hosting, obtaining the digital certificate, provider for online transactions, and purchasing or creating the shopping cart software.
Tell us which different sector e-commerce applications are available in the market?
The applications are mainly available for many different sectors or areas, from those areas some are like books, music, financial services, home electronics, mobiles, entertainment, apparel, travel services, toys, movie tickets, information, gifts and computer products, accessories, etc.
Must have tools for startups - Recommended by StartupTalky
- Convert Visitors into Leads- SeizeLead
- Manage your business smoothly- Google Workspace
- International Money transfer- XE Money Transfer
