Are you planning to venture into the eCommerce niche? There are several players in this segment, and each one has an idea that seems to be working for them.
For the outsider, the market seems to be saturated, and you don’t know how to differentiate the plan for the next venture.
However, you can do it by entering a segment that has been untapped or building on an idea that is unique.
We understand that most people are stuck at the first stage itself- the ideation stage. If you don’t have a strong idea, the venture may or may not be successful.
Here, we have curated five-strong eCommerce business ideas for you.
#1 Face-to-Face Commerce
When you are dealing online, you tend to forget the importance of face-to-face conversations.
As a seller, your ultimate aim is to increase the customer experience for eCommerce visitors. However, that cannot be done if you don’t initiate a different story for the customers.
Face-to-face commerce will help establish trust among the customers and will recreate your brand.
How will this idea work online? The sellers and the buyers can strike a deal after a conversation about the product or service. They can choose a medium to communicate. When the seller offers their insights into the product, it increases the value of the product.
- The seller has more knowledge about the product and can talk like an expert
- They can solve queries and all the doubts that the user may have through one-to-one conversations
You can use this idea to build your jewelry or fashion apparel business, where customer experience drives conversions.
#2 Education Platforms
What is eCommerce in education? Well, when you delve into online learning platforms, you are building an exciting niche for eCommerce businesses.
People are all up for learning online, as it offers convenience and saves a lot of their time. here, the course designers meet the users and sell the courses. That is one way of getting revenue from online platforms. The other potential is getting the course makers to tutor the children online.
You don’t need to restrict your niche to academics alone. There are people looking for spiritual, commercial and other types of courses online. You will need to identify the course that you think you can follow through.
You may need to consider student acquisition before you get started with the educational niche.
Apart from that, identifying a niche that the students want to opt for, and offering a differentiated proposition is another aspect that you need to consider.
#3 Selling Solutions
There is no dearth of problems around you. in fact, in every corner, you will find people are facing issues that need solutions.
If you could refurbish the idea of eCommerce, and stop thinking of products alone, then you will see that this is an amazing business idea for the eCommerce entrants.
Seek for people who have issues, and ask them to come to you for solutions. The website that you are developing should sell possible solutions.
You can either identify the problems yourself and post solutions for a certain amount or give solutions as part of the services.
You will see that it is an eCommerce idea with a different value proposition, and it will definitely work.
When designing this eCommerce application, you need to research the users to understand how they would prefer to interact with you, and how they behave with an eCommerce application in general.
#4 Selling Local Produce
In a grocery market dominated by the online sellers and buyers, the local producers get ignored. Only the mediators get a certain benefit; the producers and buyers face a loss. You can create an online application that can help buyers meet the local producers, and get the products at a reasonable price. In fact, it will also benefit both parties, as they would be able to gain a better understanding of the product.
You can extend this idea to the local craftsmen and other local artisans for better traction. You need to identify the niche that you want to deal with, understand the consumers therein, and finally design a product that you feel will be suitable to these people.
Remember to think through the app and take into consideration the possible scalability factors associated with app development.
#5 Know Products in Stores
tell your users where they can find a particular product. Most often, your users know the products they want, but they are unable to find a shop that deals with them.
Instead of having to visit all the stores, the user can visit your store that will inform them about the stores where they can find these products.
So, the user simply needs to enter the product information, and you can serve them with the store details, both online and offline.
Of course, you will need to define a business model for these stores. Considering the users will make the purchase through your store, in case of online shopping, it will become easier for you to completely earn money.
There are several other ideas that you can work on. It is however important for you to validate the idea and conduct an A/B testing before you move ahead with design and development.
Apart from the ideation, you need to conduct thorough user research which will help you identify how users behave with eCommerce websites. You will also understand the learning curve you will need to work with to convert the customers.
Before the idea and the research, you need to identify if you want to go with a product niche or a service niche. The above-mentioned ideas are mostly service-oriented.
You will also need to calculate the financial impact your eCommerce business idea will have, and how you will score profits for the business.
It goes without saying that you need to hire a good Magento development company that will help construct your idea into a relevant, usable and functional app solution.
Author: Atman Rathod is the Co-founder at CMARIX TechnoLabs Pvt. Ltd., a leading eCommerce development company with 13+ years of experience. He loves to write about technology, startups, entrepreneurship and business. His creative abilities, academic track record and leadership skills made him one of the key industry influencers as well.
Twitter – https://twitter.com/RathodAtman