While the current pandemic continues to impact the economy and our businesses, ecommerce is booming.
Online shopping isn’t new by any means, but more and more consumers are turning to ecommerce as their primary source of shopping.
Companies in all industries have noticed this trend too, and are rapidly pursuing online strategies—sometimes complimenting or completely reimaging their offline experiences in the process.
But that doesn’t mean you can start an ecommerce store and become successful right away. Some companies thrive on Amazon, while others rely on niche sites.
This article will discuss the top five niches of ecommerce industries that you should consider joining, using, or profiting from in 2020, like:
Your options to enter a niche ecommerce space in 2020 is limitless due to the low barrier of entry that online business provides anyone willing to take a chance on ecommerce.
This industry is the most likely example that comes to mind. Sure, work from home has been around for a while, but it did not become possible for many employees until the pandemic started happening. Suddenly, there was no alternative but to either go online or lose business.
Products and services from office equipment to inter-team communication software and electronics benefit from the pandemic, and you can too.
Most work from home equipment can be purchased either through a big box store with an online presence, like Walmart, or is orderable directly from the manufacturer for huge discounts. Niche items are purchasable from specialty mom and pop shops, that the big retailers do not carry.
With gyms and public fitness classes shutting down due to lockdowns and quarantines, it has become harder to work out. Also, many people attend the gym for social reasons, not just health reasons. While at-home fitness equipment has been a booming industry for decades, new niches are becoming popular due to this year’s events.
Fitness equipment, like free weights, supplements, and exercise plans, are popular and niche fitness equipment like push up paddles and pull up bars.
Fitness goals are most comfortable to attain if you are already fit. Prevent losing what progress you already gained before the pandemic and restart your exercise routine.
Online entertainment was popular before the pandemic, but it is currently overshadowing more traditional competitors. Movie theatres cannot compete with online options like Netflix or Disney. Virtual reality and augmented reality mobile applications are also popular right now, as offline entertainment options become more and more limited.
Entertainment is not just for those who need a break now and then; you can learn with online entertainment too. ClassVR can help your children learn while under lockdown. Online platforms like Memrise can help you understand practically any subject with flashcards due to a thriving contribution community and user-created content.
As businesses shut down due to the pandemic, more and more people are learning how to replace these business services with DIY tutorials on the Internet. People are learning how to:
Most businesses, outside of expensive niche industries like space travel, have a DIY component. In many cases, individuals purchase new or used equipment online and learn how to provide themselves with the goods and services they used to pay brick and mortar businesses.
Even during the lockdowns, people are fixing up and renovating their homes. Home repairs are quickly done and are learnable by watching YouTube tutorials or interfacing with skilled professionals online. Your local handyman can easily set up an online business offering advice and guidance to clients who are now doing all their repairs.
You can even sell the products you create to help others with their home repairs and renovations.
Every platform is different. It may cater to a different niche. It may cater to a diverse clientele. Once you know what you want to focus an online business on, determine which platform is the most comfortable fit for you.
Look at your competition and see what those businesses are doing. Are they finding success with specific social media platforms and ecommerce websites? Are they selling particular products and services? What is similar and different between your companies? Is there something they lack that you could provide your customers?
Finally, you can always build your niche ecommerce store, whether using a popular platform like WordPress or from scratch. If you have a business niche that does not fit well with any popular ecommerce platform, you may need to build precisely what you need.
2021 is going to be here soon. That stated, things should not change much, as we have already been in the pandemic for almost a year. Industries are moving forward, not looking back. If changes to industries are meant to be, they are already here.
Tons of ecommerce stores and platforms exist. Not all are right for you or your business. Consider what the competition is doing. Determine which industry you are in or are transitioning to and your ecommerce goals. Make headway.
While the offline business may be slow, and the pandemic’s aftermath is impossible to predict, you can transition online and sell niche ecommerce products and services. You just need to find the right platform for your needs.
Looking to start an ecommerce store? Globalgraphics can help. Get in touch with our team to find out how we’ve helped small businesses capitalize on growing ecommerce demand.