It’s never easy to pick a business niche, especially when there are tons of great ideas already in development. But if you’re planning to set-up an ecommerce business in 2018, you can take a cue from technology trends, in-demand products and customer-centric preferences. Whether you’re looking for products to sell in an online store, or a service to offer, here are some ideas you could check out:
9 Ecommerce Niche Ideas for 2018
1) Drones – Drones having been reaching new heights throughout 2017 in various industries and is expected to become a $17 billion industry in the coming years. Aside from military use, drones are making a big splash on journalism/film (aerial photography), logistics (express delivery), disaster management (sending supplies, gathering information or conducting rescue operations), agriculture (precision crop monitoring), law enforcement, and more. Of course, drones will continue to its increase its popularity in the travel/photography industries for personal use.
2) Organic Beauty Products – Consumers are becoming more aware of the health and environmental effects of beauty products. Sales of organic or natural beauty products have been dramatically increasing up to 20% per year since 2015. Check out food-, oil- and vegetable-based hair and skin products with a focus on key ingredients like essential oils, vitamin C & E, seaweed, oatmeal, honey, coconut and other fruits.
3) Product Customization – For anyone who wishes to expand an ecommerce store, there’s a huge opportunity for product customization in 2018. This will work depending on the industry, such as clothing, shoes, cosmetics, furniture, or gifts, among others. And since technology has advanced to the point where customization is simpler at less the cost, business owners can add another income stream without having to develop new products.
4) Urban Farming – People are realizing the convenience, environmental importance, and health effects of farming in urban settings. Vertical farming, in particular, is a growing sub-niche that has been embraced all over the world through 2017. Even the government is on board with this upward trend with laws being amended in various states to accommodate urban vertical farming.
5) Subscription-based products and services – The success of subscription-based steaming Netflix isn’t done yet even if its streaming service has exploded in the last several years. Aside from a projection that this industry will reach over $200 billion by 2019, Netflix has inspired many companies that now provide a subscription option with its products or services. A great example of this is Dollar Shave Club, which earned over $615 million within 5 years; by shipping its members shave kits on a monthly basis.
6) Essential Oils – The natural health and wellness industry is all about essential oils in 2017 and it will continue to be a big deal in the years to come. What’s interesting about the popularity of essential oils is that consumers are welcoming them with open arms as they become more aware of natural health, even if the FDA continuously published reports against it.
7) Apps – App development has been a booming industry for a few years now, but there’s more to be invented or copied. Yes, even copycat apps can become successful in the app world. Just look at Uber clone Gofer or Tinder clone Igniter. The best thing about creating apps is that anyone with the right idea can jump into this world (for example: Yahoo!’s $30 million acquisition of Summy from a 17-year-old). With the right app idea that aims to solve a particular problem, an app can sell for millions of dollars.
8) Wedding – This multibillion dollar industry may feel saturated with tons of businesses already in operation for decades, but note that as the trends change year by year, more business opportunities open up for startups. Photobooths, mobile bars, venue decorators, and other sub-wedding niches weren’t always a part of the wedding industry, but brides and grooms ate them up when these businesses were introduced.
9) Custom Fitness Products – The fitness industry is a massive industry that has always had an impressive outlook, but customization of fitness products seems to be an exploding trend in the late 2017. If you have an ecommerce business in this field, try adding a customization option to accommodate the growing needs of consumers to “own” the products they buy.
The Bottom Line
The cool thing about these business ideas is that it can apply to any kind of capital you may have. If you wish to have a product-based business but don’t have enough capital, dropshipping (where your partner with wholesalers who handle everything from stocking to shipping) can help you solve your financial dilemma. Service-based businesses also require a smaller investment that the product development route.
If you do try any of these ecommerce business ideas, remember that mobile usage will contribute the biggest chunk of ecommerce sales in 2018, so make your websites mobile-friendly or develop an app to support your business. Other technology trends you can incorporate into your ecommerce business include the use of virtual reality or 3D shopping, artificial intelligence, customer-centric automation, personalized shopping, one-click payment, and the merging of online and offline shopping.