Entrepreneurs have many reasons for starting an ecommerce business. For many, they have a passion for a specific solution, product category, or hobby. Knowing what to sell is an essential component of the plan from the beginning. However, other entrepreneurs may be more enthusiastic about internet marketing or customer support than about a specific product category. For them, finding a market isn’t so much about following a dream as locating a possibly profitable industry segment.
In this guide, I will provide ideas for five potentially lucrative niches for 2014: automotive, consumer electronics, jewelry, apparel, and toys, hobby, and game business sections.
Automotive Parts and Accessories
With over 250 million automobiles on American streets, the automotive components and accessories retail segment provides a huge available market, so that capturing even a very small share of online automotive-related sales can amount to lots of business.
The section is also full of small nooks, markets, and sub-categories where an ecommerce business might get a substantial quantity of chance and thrive. Just as a few examples, an internet retailer may specialize around a specific model or make, offering hard-to-find or special accessories for Chevrolet Corvettes, Volkswagen Beetles, or even the a lot more rare Pinzgauer 712.
Similarly, there’s also the opportunity specialize in a specific automotive part or accessory. Wheelskins, for instance, primarily sells leather steering wheel covers.
Wheelskins is a market automotive retailer, selling steering wheel covers.
Lastly, consider that Bigcommerce, a software-as-a-service ecommerce platform supplier, recently reported that automotive components and accessories companies using its platform had undergone 89 percent growth in earnings per online store, which makes the category appealing for new or growing online retailers.
Hard-to-find Consumer Electronics and Accessories
Consumer electronics represent among the most popular categories for online purchases generally. According to a comScore report, consumer electronics sales grew about 13 percent during the holiday season.
Although it’s most likely not a great idea to attempt to take on mass market, multichannel retailers — i.e., Amazon, Walmart, and Best Buy– by selling the same tablet computers, MP3 players, and iPhone instances, new ecommerce companies may find success focusing on hard-to-find accessories and electronics (that shoppers won’t have the ability to buy at the regional big box stores) or on unique items which aren’t offered at other retailers.
For instance, could there be a market for steampunk iPhone 5 instances? Blujoos on Etsy, appears to have sold at least 50. Used things like old video games may also be a viable niche. Watch Lukie Games, which sells used Nintendo NES game cartridges.
Lukie Games sells used Nintendo accessories.
The bottom line is that large group has more than enough space for new online retailers selling everything from the above steampunk mobile phone cases to GPS-enabled dog collars or vacuum tube clocks made from salvaged Soviet-era parts. In summary, consumer electronics and accessories go beyond a large box store’s stock.
Jewelry and Accessories
According to some estimates, total U.S. retail jewelry sales will exceed $70 billion this year. Large jewelry retailers, particularly those servicing the wedding business, may take the lion’s share of these earnings, but there should still be plenty of space for specialty online retailers.
After the theme of hard-to-find or special products and accessories, new online jewelry retailers likely won’t need to start by supplying products identical to or even much like the rings, necklaces, earrings, and watches that much bigger competitors regularly offer. Rather, it might be much better to concentrate on what are sometimes called long-tail products for which there’s less established competition.
New stores may feature handmade jewelry from new and upcoming designers; vintage items found at auctions or from personal collections; layouts made from unique materials; or layouts which don’t use diamonds or other gems mined with forced labour.
The jewelry section may also be available to new business models for ecommerce merchants like subscription services or even leasing providers. In the former, a merchant might supply an earring of this month subscription. At the latter, the ecommerce company could rent out costly jewelry for special occasions.
Apparel and Accessories
Apparel and accessories, such as hats, belts, and even ties, is a broad category with a substantial number of opportunities for new companies.
Here again, maybe the best approach to tackle this market segment is with exceptional or comparatively rare products that aren’t easily available at dozens of other competitors’ stores.
Online sellers may also find that for some apparel markets the competition is relatively weak. By way of example, there are lots of team apparel suppliers. Tons of these organizations are local and have long backlogs since most every high school in the usa needs new uniforms, t-shirts, and warm ups year or 2. A well-managed online shop that could provide quick turnaround could succeed in the area, and it is only one of thousands of specialty apparel and accessory ideas for new ecommerce companies.
Toys, Hobby Supplies, and Games
Sales of toys, hobby supplies, and similar things rose about 13 percent during the 2013 holiday season, according to comScore. The expansion may indicate a fantastic chance for new, specialty online retailers.
Additionally it is worth mentioning that not all toys or hobby things are intended for children. Things from Another World, for instance, has a toy segment filled with items which are clearly not meant for children, such as a Daenerys figure form the Game of Thrones and a Walking Dead TV Series Pet Zombie with detachable arms.
Things from Another World sells adult oriented toy and hobby items.
Hobby items could contain anything from model airplanes to Raspberry Pi single-board computers.