8 Brilliant Business Ideas For Ecommerce: Building an e-Commerce website can be the start of something great, but it’s hard to know where to begin when you have no idea what kind of business you want to create. If you’re looking for brilliant business ideas, look no further than these eight e-commerce businesses that are thriving today. Here’s how they work, and why they’re so popular with customers around the world.
8 Brilliant Business Ideas For Ecommerce
1) Drop-Shipping
One of the easiest business ideas out there, drop-shipping is a quick way to make money by selling items without keeping them in stock. To get started, find a company (or businesses) that sell products you believe will sell well on your site. Once you’ve signed up for an account, set up their merchandise as virtual inventory.
Depending on your relationship with your merchant, you might have to make a minimum purchase or pay a monthly fee for storage and handling. On Shopify and Etsy, these fees typically range from $15-$30 per month. There are several other drop-ship companies out there – some are better than others. It all depends on how much work you want to put into it!
2) Wholesale
As you grow, it’s important to diversify your business, and selling wholesale can be a great way to do that. By selling directly to major retailers like Wal-Mart or Target, you can increase your brand awareness while also boosting revenue. However, entering into these contracts will take a lot of time, so make sure you are ready for a full commitment before pursuing new wholesale opportunities.
If opening physical retail locations isn’t something you want to do at first, consider using an e-commerce platform like Shopify instead (they even offer online tools specifically designed for wholesalers). It may not be as profitable as working with big chains immediately but it’s an option well worth exploring in 2018 and beyond.
Make sure you have enough capital to get through any slow periods until your e-commerce store takes off! Note: if starting from scratch is too risky for you, try hiring local artisans to start out on consignment (e.g., Etsy)
and then expanding with distributors once orders hit a certain number per month… scaling up/down depending on sales/inventory levels! #smallbizrocks #marketplacestrategies #businesscoachingadvice #businessplanstrategy
3) Private Labeling
Private labeling is a great way to start a business, as you only need to concern yourself with branding, marketing, and operations. It’s also an ideal way to enter e-commerce because you can avoid some of the financial commitment that comes with opening up your own online store.
Finding products to private label is easier than ever before because of Amazon’s Fulfillment by Amazon program. With FBA, Amazon handles packaging and shipping your product orders while you work on other aspects of your business—allowing you to scale quickly without having to worry about warehouse space or building out infrastructures like inventory management tools, processing payments, or marketing channels.
The 4 things you must know to become successful in eCommerce: Read More… Click Here To Get Instant Access Now! Investing in Shipping: If there’s one thing we strongly recommend against when it comes to launching an e-commerce business, it’s skimping on logistics. Skipping costs for shipping will end up costing far more when returns start rolling in and customer service gets flooded.
The additional $50 per package spent now could save many times that down the road if it prevents unhappy customers from leaving poor reviews due to late or lost shipments. Think customer first: Not all customers are created equal—and neither are their demands nor buying habits.
4) Affiliate Marketing
Affiliate marketing is one of the most popular business ideas on Earth. It’s done through a network called affiliate programs, and you can sign up to market products from companies like Amazon, Hulu, and Wayfair. Every time someone clicks on your link and buys something, you earn a commission.
If you want to get started with affiliate marketing but don’t know where to start, look into industry-specific groups on LinkedIn or find an agency that will help you set up everything correctly so it runs smoothly—this way, you can make money faster. This business idea has helped a lot of people launch their own businesses because they have learned how to generate leads online in order to make sales in person.
Depending on what kind of service you offer and what you are promoting, there are lots of different ways to go about starting an affiliate marketing company. Building relationships with others who have the audience or even just clients are important when getting started with e-commerce sales. Learn how other small businesses are achieving success so that you can implement similar strategies within your company.
Being diligent when first starting out is a must if you plan on being successful in any new ventures; especially online ones because there’s no walkthrough for creating your first e-commerce store! As soon as possible after launching any website, be sure to reach out to bloggers that specialize in topics relevant to yours by offering freebies in exchange for reviews!
5) Creating Software to Manage Orders
Managing customer orders can be a pain, especially if you don’t have an e-commerce site. If you already do have one, you know how difficult it is to manage everything. There are so many different pieces of information to keep track of customer purchase history, product inventory levels, pricing, order placement times, and locations – the list goes on!
An online order management software will make your life much easier. The good news is that you don’t need programming knowledge to create something like this – there are software platforms available that allow anyone to create their own e-commerce solutions in minutes.
The best part? You get to keep 100% ownership of your intellectual property without worrying about running into trouble with license agreements or other legal issues. Take a look at products like Shopify and Volusion to get started on your very own e-commerce solution.
One more thing…if you’re just getting started with selling online I recommend taking advantage of Amazon’s FBA program. They ship out all orders for free, let you store products in their warehouse (and sometimes send them directly from vendors) which means less headache for you (no damage or lost packages), pay for return shipping when customers return items back for refund/exchange and handle any disputes between buyers and sellers.
6) Packaging & Shipping Solutions
So you’ve thought of a business idea, now what? You can try to create your own product and sell it directly through your website. This is one of the most lucrative ways to get started with e-commerce because you won’t have to pay anyone commission (though you will still have hosting costs and other fees).
If you don’t already know how to design products, there are courses online that teach web designers how to create original templates or product images. Just make sure that whatever you create is easy for others to manufacture and fits in with your brand image before committing time or money. Also, think about whether you’ll be able to scale up if sales skyrocket—you may not want to outsource product manufacturing, but your business model might require it.
7) Amazon FBA & App Development
Amazon is a dominant force in e-commerce, so partnering with them can be a smart move for sellers. If you already own a physical products business and are looking to start an online store, Amazon’s FBA (Fulfillment by Amazon) program lets you take care of inventory storage and shipping while they handle customer service, marketing, and all sorts of backend details.
This is especially helpful if you have limited time or resources; it lets you scale your business quickly without having to manage it day-to-day. Plus, Amazon’s streamlined fulfillment process makes it quick and easy to order items from their website—no matter how obscure or rare your product may be. Selling on Amazon also allows you to reach customers who might not find your brand elsewhere.
It gives them another reason to shop at Amazon that wasn’t there before. It offers some level of protection against competition selling similar items on eBay, too. All these factors make listing an item on Amazon worthwhile for many brands—and something worth considering if you want to sell things online right now.
Luckily, there are other platforms that help with app development —such as Fueled, Appcelerator, Mobile Roadie, Zendesk, and Mailchimp. Get Started today!
8) Creating Your Own Product
While e-commerce is largely an exercise in distribution, with some ingenuity and marketing savvy, it’s possible to sell products directly. And while there’s a lot of competition out there, product differentiation can be key to carving out your own niche. The most important thing when it comes to creating a successful product? It has to solve a problem and be priced fairly.
And if you’re going to go down that road, why not create something that you can also profit from? That way, if people like your product enough to pay for it—you’ll be in business! If you can’t come up with ideas on your own, try browsing Amazon (unlikely as that may seem) or even crowd-sourcing platforms like Kickstarter. You might find a promising idea worth exploring (and possibly joining forces with).
Also Read: Top 10 Business Ideas For Educated People
Conclusion
While e-commerce is a hot and exciting trend, it’s also an incredibly complex industry. From building your store to delivering your products and services, there are countless factors to consider. With so many options out there, it can be difficult to choose one direction over another.
To help you with that decision-making process, here are eight brilliant business ideas for e-commerce merchants of all types. Whether you’re starting a brand new company or working within an existing company, these trends should be at the top of your list!
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