E-commerce is swiftly becoming the new normal. According to the paper published by India Brand Equity Foundation, the Indian e-commerce market is expected to grow to US$ 200 billion by 2026. It is evident that the way business is conducted in India has changed. With the requirements only being a laptop, a good plan, and passion, the number of people setting out to be entrepreneurs is on the rise. Several business ideas require minimal investment and can become successful in 2020. If you are ambitious to become an entrepreneur and are searching for aspirations, you are in the right place!
Here are 5 eCommerce ideas to start your online store that needs low investment.
Dropshipping is an eCommerce business where the drop-shipper becomes a middleman between a product supplier and a customer. In this business, the drop shipper only purchases the product from the third party after a customer has agreed to buy that product. There is no inventory or shipping costs as the manufacturer is responsible for both. Also, there is an added advantage of a very low start-up cost. Dropshipping involves three simple steps.
- The customer places an order through your website
- Your store directs this order to the certified dropshipping manufacturer/supplier at a wholesale cost
- The drop shipper prepares the order and ships it to the customer.
Athleisure is gaining tremendous popularity as a niche market for e-commerce business. Due to the surge in fitness consciousness, people are moving towards a healthy and active lifestyle. Athleisure is becoming a fashion choice, as they are both comfortable and stylish. The use of leggings, hoodies, joggers, yoga pants etc as every-day-wear is a huge hit in the fashion industry. This is a market that you can definitely take advantage of, for your online store. You can also expand into related category items such as gym accessories and sports nutrition.
Healthy Food Supplements
Organic food, Gluten-free, Keto diet, Veganism – these words are becoming more and more common among millennials and Gen Z. Due to the growing shift to a healthier lifestyle and because of celebrity influences, these food products are gaining a crazy demand. These healthy food enthusiasts are keen about their diet and will only purchase food products that have this tag on it, creating an excellent business opportunity. The profit margins are great in this business and if you market it through affiliate marketing, using the right influencer, it is bound to become a huge success.
Mental health is a flourishing market in the current times. Everyone is caught in between a constant hustle and often feels the need to take a quick break to relax, recharge, and relieve stress. As simple products can make a huge difference in the overall health and well-being, this market has a lot of potential for the right expert to tap.
Stress-relieving tools and techniques are indeed a great niche at present. Affordable and accessible products, designed for dealing with stress and anxiety, can nurture a daily dose of peace. This includes products such as relaxing tea, essential oils, calming lights, acupressure products, masks, massagers, bath salts, yoga mats, weighted blankets, etc
The pet product market is poised for growth. Due to the rising consumer awareness among the pet owners, there is an increased switch observed to healthier pet foods than the traditional ones. They are opting for ingredients that focus on enhancing nutrition and maintaining the pet’s overall health. This has created a peak in the organic pet food market as well as an interest in homemade treats. Most owners treat their pets like family, leading to the growing market share of pet merchandise. According to Mordor Intelligence, the India pet food market is projected to grow at a CAGR of 13.5% during the forecast period (2020-2025) making it a niche market for starting an e-commerce business.
To ensure the best chance of success in any business, it is important to focus on an idea that aligns with your abilities and interests. Whether you’re a student, or someone who wishes to work from home, or anyone who aspires to be an entrepreneur, remember that there are plenty of opportunities to earn a substantial income.
In any case, before you start an online business, it is always great to test your idea to understand the market and to study customer behavior. Therefore, we recommend you start by creating a trial website through Abicart with minimum viable product and introducing it to your target audience.
There are lots of ways to make money online – you just need to get the right resources and find the passion to be your boss!