Over the past two decades, the world has warmed up to E-Commerce. It refers to conducting business online. Not to be confused with e-Business–which includes all other aspects that are there… of conducting a business online.
E-Commerce is specifically about sale purchase of goods and services over the internet, followed by monetary transactions to execute the deal.
What E-Commerce does is to make different products or specialised services available to the masses across the world. Different channels of sale-purchase get created between marketers, online retailers, and the buyer.
Who Gets Benefited?
Unlike ever before, selling through different online marketplaces has opened wider channels to make that sale happen. The scale of reachability has grown manifolds, as compared to traditional brick and mortar selling.
They can reach out to manufacturers and artisans from all over the world specialising in different products and bring them up to you.
E-Commerce is all about the benefit that it offers–comfort of shopping from wherever, followed by convenience of access. And, getting your hands at specialized products and services, which seemed impossible two decades ago.
E-Commerce gives you the freedom to select that dress you want, free from the intrusive eyes of that salesgirl at the counter. And, the fun part is you can do that at any time of the day… or night!
It all depends on when you want to purchase something and probably when you have the resources to do that. So, when you decide to go ahead, the decision to click that ‘buy’ button must be independent of that store opening or closing time.
If that isn’t all, you can order a product through the online store and get it delivered to different cities nationally, and sometimes internationally as well. Trust us when we say this…gifting was never this easy.
With all that is to E-Commerce, it has also brought in benefits of making seamless online monetary transactions through virtual money. You don’t need to carry huge bundles of cash all around the shopping stores now.
With so many benefits to its kitty, e-Commerce has certainly taken the world by storm. Even traditional sellers are diversifying to give the mode its due.
Considering the tremendous scope, more and more people are turning business owners through this medium. However, there are still many who are certain of the medium but unsure of the product per se.
Come Up with a Business Idea
So, for starters, they might want to ask for ideas from friends and family or ponder through guides and books on business ideas. Give it time, understand all the pros and cons, before you decide upon something.
When the product stands out, it is easier to market it, review it online, and use social media channels to advertise it. Isn’t it?
All of it does close on the impending question … what is it that you want to sell?
Generating that Business Idea–The Road to Follow
1# Identify a gap/requirement/or a problem that a section of people faces
You wore size L until a few years ago but progressed to being an XXL after you had a baby two years ago. You are now facing trouble getting comfortable casual wear for yourselves that works well managing a house with a toddler. Something that doesn’t look coming from a flea market, is classy, yet casual and affordable.
You managed to get a few dresses customized for yourself from a local tailor who was pretty good at the job. When you were satisfied yourself, you wanted to reach out to others like you who raised similar concerns. So, I started with a few fellow churches going XL- XXXL sized mommies like me.
And, they had similar problems. So, my idea got validated there. This kind of pre-selling gives wings to any idea by gauging the demand, thereby minimizing risks of any sort.
3# Getting over the Fear of Failure
Once you have gauged the market demand, you will be able to curtail this fear manifolds. Stay connected with prospective customers. Build a relationship with them and maintain that with regular offers and benefits.
Seven E-Commerce Business Ideas
1# Niche Fashion Website
Fashion trends come and go while establishing a certain section of people as its loyal clientele every time. However, when the trend fizzles, loyal customers are pushed to the back foot with no access to what they desire. So, offer them that. Be the niche player in this overcrowded fashion industry.
Revelry sells trendy, affordable, and customizable bridesmaids dress. You may not be the bride, but you still can have the last laugh by dressing up well?
The Post-box brings creativity at the fore. Live fashionably, as imagined by artisans and designers hidden in the nook and corners of rural and urban India.
2# Selling Second-hand Products
Everyone is looking for a high-end life, but everyone does not intend to spend the same amount. While some may not be able to afford it. Irrespective of what the case may be, there is a huge potential marketplace for online selling of second-hand products, in good/working condition.
Go fetch that electronic toaster hidden safely in the cabinet for years, sell it at a good price online.
3# B2B Selling of Industrial Products/Machinery
Connect with small scale manufacturers and dealers of utility industry tools and use E-Commerce to share detailed descriptions. Schedule on-site demonstration and testing for prospective buyers. As you receive an order, order further to the manufacturer and earn a commission on the selling price.
Tolexo sells everything from Air Blowers to Power Saws, along with the entire range of safety equipment.
4# Become an Affiliate Seller to Top E-Commerce Portals
You can work as an affiliate by spending some dedicated time online and understanding the current trends. You can thereupon identify products that are trending on e-commerce retail sites.
As you review and refer the product online, you can share a backlink to help the buyer land straight on the website of the e-commerce giant you are writing for. After each such purchase directed through your website, you will earn a commission.
You just need to learn certain SEO (Search Engine Optimization) and marketing techniques for this.
5# Sell Digital Marketing Courses
Digital Marketing is the trend of today. You can change the course of your life by attaining more knowledge in this domain.
Enroll for a full-fledged course or complete a certification. You can then create your own courses for beginners or advanced courses for the ones having the basic understanding.
Offer these courses at affordable prices to the seekers who can’t afford a professional course. However, the knowledge of the domain is what they desire and not a certificate on the wall. You will be surprised to see the number of takers.
Sell digital tools and software or offer digital support to organizations on a contractual basis. There are many small business setups who can’t afford a permanent employee.
6# Sell Your Content Writing Skills
Work for a business house or another e-commerce portal to write content in the form of articles, web pages, blog posts etc. for their products and services. It could be product descriptions, promotional or service branding.
It’s your words and writing techniques that act as a connection between them and a prospective buyer of their product/user of their service.
So, you play a very important role to enhance the reach of their business. You can earn a fixed amount monthly or per word/per article charge.
7# Selling Hand-made Creative Gifts
Machine made objects are available all around…nothing creative about them. Connect with creative people making specialized gifts in order. Showcase their skills through your medium by aptly describing the products, taking orders, and passing them on to further earn a commission on every order.
From handmade greetings, birthday return gifts, home décor, and more, creativity has a lot of takers.
You can be a successful entrepreneur by following certain steps to attain that height. There are ample opportunities to succeed online and the above mentioned e-commerce business ideas are only a few of them.
- 101+ Best New Business Ideas 2020 for Entrepreneurs
- Top 10 New Future Business Ideas 2020 You Need To Know
- 4 Low Cost Business Ideas For Future Entrepreneurs
- 8 Small Online Business Ideas You Can Start Tomorrow
Author Bio: Aditya Singhal is the co-founder of CrunchGrade, an online tutoring platform for students. It is his passion and vision to incorporate technology with education to help students not just thrive but excel through e-learning mediums and tools. He had worked with Kurt Salmon Associates, a reputed American Management Consultancy. Reach out to him on Facebook, LinkedIn here!