Top 10 Ecommerce Business Ideas – The list of the top ten companies in the world of e-commerce is currently dominated by US companies, with five of the ten headquartered in the US. This should come as no surprise given that the US is one of the largest e-commerce markets in the world.
E-commerce giant Amazon currently tops the list of top e-commerce companies. As of January 2022, its market value is a whopping $1.649 trillion. This represents a slight increase of 0.92 percent compared to the previous year. By comparison, Amazon saw its market value increase by 73.6 percent in 2021 due to the coronavirus pandemic and resulting lockdowns around the world as consumers spend more time indoors and online.
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Amazon’s current market value is also more than four times that of its closest competitor and nearly the combined value of the next five largest online retailers on the list.
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The e-commerce company’s revenue has been growing steadily for more than a decade. For the 12-month period ending in the third quarter of 2021, its revenues reached $458 billion, up 31.62 percent year-over-year. By the way, its founder Jeff Bezos is also included in the ranking of the richest people in the world.
The second largest e-commerce company is also headquartered in the US. Home Depot has a market value of $411.02 billion, up 43.73 percent year over year. It is followed by Walmart in third place with a market value of $401.91 billion.
The fourth place in the list of leading e-commerce companies is China’s Alibaba with a market value of $351.9 billion. Jack Ma’s company has nearly doubled its net revenue over the two years spanning 2019-2021, from about $59 billion to $113 billion.
The fifth largest online retailer in the world is Prosus, a multinational conglomerate company headquartered in the Netherlands. Its market value in 2022 is $254.55 billion.
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The combined market value of these five largest online retailers exceeds $3 trillion. This represents more than 77 percent of the total market value of the top ten e-commerce companies worldwide.
The top ten e-commerce companies in the world are spread over three different continents: six from North America, three from Asia and one from Europe.
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Often the hardest part of running a business is finding the right idea – one that fits into your day job, allows you to work from home, or monetizes the skills you already have. If you’re an entrepreneur in a creative lull, here’s a guide to 16 eCommerce business ideas that will turn a profit fast.
If you are looking for an e-commerce business idea that does not require start-up capital, dropshipping is a solid choice.
Dropshipping is a method of fulfilling orders that does not require you to purchase, store, or ship inventory. You’ll be working with a dropshipping supplier that takes these responsibilities off your plate, meaning you only pay for the products after they sell.
To get started, find a dropshipping provider that stocks the items you want to sell. Apps like DSers, Spocket, and DropCommerce integrate with stores. Once you sell a product through your e-commerce website, it is automatically routed to your supplier to ship to the customer.
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Private labeling is a business model where entrepreneurs partner with a manufacturer to produce customized products. Capitalize on the $59.2 million health and personal care industry by launching a private label makeup, skin care, and cosmetics brand.
DaKira Taylor took this approach when launching a beauty line. She currently operates two e-commerce companies, byREDD Beauty and byREDD Wholesale, both of which include private label skin care products.
When you think about it, Kylie Jenner and Rihanna aren’t in their kitchen or warehouse where they make their products. They use private label. So why not start with the same mindset as those great men? Dakira Taylor, founder of byREDD
To start a private beauty label, contact manufacturers who already make the product you want to sell. Work together on a formula, order samples to test their quality, and check feedback from entrepreneurs who are already working with them.
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Once you find a manufacturer, create your online store and upload product listings, then start selling new beauty products to spread the word.
Do you enjoy making handmade items? Turn your hobby into a successful business and earn extra money selling handmade items through your own online store.
Attract more potential customers by listing your handmade products in markets. Etsy, for example, serves nearly 90 million shoppers, many of whom use the marketplace to find handmade and/or personalized items.
Custom made products are hard to beat because not only do they give customers exactly what they want (demand), but you can be the only source (supplier) of those products. Richard O’Connor, Director of First Mats
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However, it should be noted that Etsy disclaims any sales you make. The combination of both and Etsy gives you the best of both worlds: you reach out to an existing customer base that wants to buy handmade items, while maintaining a high profit margin from orders placed through your e-commerce website.
Do you have followers on social media? Whether you’re an artist, musician, or fashionista, monetize your audience by selling merchandise to your fans.
Use a print-on-demand service like Printful to create a custom design, such as your logo or tagline. Then upload the design to mugs, t-shirts, phone cases—anything that might interest your target audience—and sell it online.
Household names like Disney offer trademark licensing deals so you can monetize their logos, characters, and slogans through unofficial merchandise. Upload them to mugs, apparel or home decor and sell items through your website.
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Consumers will spend $38.2 billion on e-commerce subscriptions in 2023, making this a product idea worth considering if you want to generate recurring revenue. You will bill customers each month (unless they cancel) in exchange for a subscription box.
Choose an industry where the subscription business model is already popular with customers. According to Statista, it is:
Fresh Patch is one business that uses this model to make money online. The retailer sells grass so that pets can use the toilet inside. More than 80% of its sales come from subscriptions, and its founder Andrew Feld advises people who are about to start a business to “try to find something that needs to be replenished.”
The online education market is projected to be worth US$ 300.3 million in 2028 at a CAGR of 23.6%. Capture millions of paying customers for higher education with an online course.
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“Online self-paced courses are one of the most profitable digital products to sell,” says Stephen Light, co-owner and CEO of Nolah Mattress Company. “You just need to pick a skill that you know well and sell yourself as an expert in the online space.
“Many course creators use social media platforms like Instagram and Facebook to develop leads and launch their digital products. As remote or online work continues, the digital course creation industry is expected to grow exponentially. It’s best to prepare your offer now before the market becomes oversaturated.”
Monetize your skills by creating an online course that focuses on what you have deep knowledge of. From pottery to cooking, there’s bound to be someone eager to enhance what you have to share.
Sell clothes online to get your share of the $180.5 billion spent on fashion and clothing each year.
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While you could maintain high profits by hand-crafting clothing, business models with a lower barrier to entry include:
Sara Donafrio is one entrepreneur who took this e-commerce business idea and ran with it. She is a successful designer with her clothing line and advises new business owners to follow fashion trends: “Do sports. I don’t do tights, I don’t do sports bras, but this cool braided outfit would look great with tights, so I wanted to incorporate that trend.”
Every year, parents and caregivers around the world spend $94.7 billion on children’s toys. But if you’re looking for a startup business idea with the potential to make quick money, flip broken, malfunctioning, or unloved toys and sell them for a profit.
People don’t mind reusing things as long as they are of good quality and in good condition. You just need to start collecting these used products like clothes, jewelry and furniture and put them on your e-commerce site. Ricardo Pino, founder of The Modest Wallet
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Improve your crafting skills to bring toys back to life. Put them up for sale on your e-commerce website and capture parents looking for new toys without the brand new price tag.
Marketplaces like Amazon give consumers access to almost anything they want to buy online. That’s why 63% of shoppers start their shopping on Amazon, spending $367.19 billion each year.
Take a look at Amazon’s Best Sellers category and see if you can capitalize on existing buyer interest. Chances are you could find the source
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