Ecommerce Business Ideas 2020
Starting an online business has never been easier, kickstart your online journey with our list of ecommerce business ideas 2020 as new niches, trends and technology emerges, start your online business in the right direction.
In 2019 we saw a lot of ecommece business ideas that focus on trends – find a product that is going viral (fidget spinners for example) and ride the wave. However, its easy to see that these ecommerce businesses have a short lifespan, as the fad ends, your sales dry up.
Starting an online business has never been easier, this has increased competition but also opportunity as entrepreneurs can test new ecommercen business ideas and niches quickly.
Speaking of niches, these have continued to be a strong trend and are getting hyper-specialised! Like orthopedic dog beds rather than just dog beds or even dog products!
Getting specialised allows ecommerce business ideas to be very focused and tested quickly. The effort to setup a 2,000 product mega product store compared to a very focused orthopedic dog bed store is an indicator of why hyper-specialised ecommerce businesses are popular.
The other attractive feature of a product like orthopedic dog beds is they are higher-priced. With online advertising continuing to get more competitive, the cost of acquisiton (how much you will spend on marketing and advertising) has increased. This means that it is harder to make profit on lower cost items unless you are setup well with your customer relationship management to ensure repeat sales and customer retention.
Ok, okay I hear you saying ‘just gimme the ecommerce business ideas 2020 list’! Well here we are…
Top Ecommerce Business Ideas 2020
- Online courses and learning – the elearning industry is continuing to grow
- Single product ecommerce stores for strong focus on your advertising and marketing activities
- As consumer social consciousness grows, consider sustainable ecommerce products or selling digital products
- B2B focusing on high ticket items
- Online consulting – leveraging the increasing quality of online streaming technologies to sell your consulting services online
- Personlised products – new printing technologies makes it possible to make tailored products for your customers
- Look local – sell locally made and crafted products online
- Dropshipping is likely to start as an ecommerce business option
But rather than go on and on, we know that there will be a lot of well-researched and long articles that come out from the major ecommerce platforms like Shopify as 2020 rolls around. So, come the new year, we will be collating a list of those articles here for your easy reference.
As always – planning and strategy will be your best friend, whatever new online business you start in 2020. So, why not check out our article 5 Simple Steps to Start Your Online Business.