TOP 11 ECOMMERCE BUSINESS IDEAS THAT CREATE PROFIT
Ecommerce is one of the industries that have the fastest growth regardless of the global pandemic. Residents have to stay at home 24/7 and purchase mainly online, making their lives almost tied to smartphones and the Internet. According to United Nations (UNCTAD), 52% of the consumers agree they shop online more since the pandemic COVID-19 began. Moreover, 53% claim that they will continue with online shopping habits after the pandemic. Ecommerce has become a delicious piece of cake for any merchant. To help you start your eCommerce journey, we will summarize the top 11 eCommerce business ideas in 2023.
1. Introduction of eCommerce business
1.1. What is an eCommerce business?
E-commerce is a term used to refer to business activities, purchases, and sales of products or services taking place on the Internet, especially through websites. E-commerce activities can take place between businesses and businesses or between businesses and customers.
E-commerce has soared in popularity over the past decades, and in this way, it displaces the companies that operate in an actual store. Ecommerce allows you to buy and sell products on a global scale, 24/7 without incurring the same costs as running an actual store. To combine the best marketing and best conversion rates, an eCommerce venture also needs a physical presence, which is known as a business that sells both online and offline.
E-commerce includes two primary elements:
- Online shopping: Including all the necessary information to provide customers, providing a reasonable buying solution. This concept can also include product review & purchase actions of customers.
- Online purchasing: Including technological infrastructure for data exchange for transactions and purchases on the Internet. These are the systems that make the activities/purchases on the Internet go smoothly.
1.2. Types of eCommerce business
In general, there are two types of eCommerce merchants:
Physical product sellers: It is the buying and selling of physical products through electronic devices. For example, you can sell products from any of the following niches: fashion, accessories, home appliances, toys, etc.
Digital Products Store (downloadable products): If you have ever bought an online course, this is a digital product category. As a general rule, if the product must be accessed through the online membership area or if it has to be downloaded, it could be a “digital product”.
