Global spending on e-commerce has become a major force. In addition to the pandemic, this increase is part of a long-term trend of increasing smartphone popularity.
According to Statista, there were 5.3 billion online shoppers worldwide by the end of 2022. In tandem with the increasing count of smartphone users, this eCommerce growth won’t stop anytime soon.
With such impressive growth, starting an eCommerce business is worthwhile for those looking for a good source of income.
However, finding an eCommerce business idea is not a simple thing that has the potential to help you stand out in the competitive marketplace. If you are also driven by a similar challenge, then you have landed on the correct page.
Here in this blog, we are going to share with you a recommendation of the best eCommerce business ideas that can be turned into a successful startup venture.
So, let’s get started.
Table of Contents
Market Trends for eCommerce Businesses?
Online shopping is a new trend. Nowadays, people prefer to buy everything online, from groceries to gadgets to medicine.
Since starting an online business requires a lot of investment, time, and effort it is essential for businesses to know whether it is worthwhile for them.
Here we have shared a few of the eCommerce market statistics that will help you make a decision on whether you should invest in developing an eCommerce mobile application or not:
1. Retail E-commerce Sales Went 919 Billion Dollars in the U.S.
In 2012, retail e-commerce sales in the US were estimated at 298 billion dollars. Fast forward to the year 2021, these sales figures with steady growth reached the estimated value of 919 billion dollars. This growth is not going to slow down any time soon. By 2025, retail e-commerce sales in the U.S. is expected to reach the value of 1,607 billion dollars.
Image credit: Statista.Com
2. Global E-commerce Sales Will Exceed $5 Trillion by the End of 2022
By the end of the year 2020, global eCommerce sales will be expected to cross the mark of $5 trillion for the very first time in history.
Image credit: eMarketer
3. Mobile E-commerce is Up and Poised for Further Growth
The majority of eCommerce sales come from mobile users. According to a study published on Statista, mobile eCommerce sales were worth around $3.56 trillion in 2021. In tandem with continually growing smartphone users, it is clear that the growth of mobile eCommerce is not going to stop anytime soon.
Image credit: Statista
4. The Philippines is the Leading Country Based on Retail e-Commerce Sales in 2022
In 2022, Asia and the Americas are going to rule the world by generating the highest growth in terms of retail eCommerce sales.
The Philippines leads the world with 25.9% of the total e-Commerce sales, followed by India with 25.5%.
Image credit: Statista.com
In the wake of the promising market trends, it is the right time to start an eCommerce business in 2022.
Best eCommerce Business Ideas to Launch a Successful Startup in 2023
Now, let’s discuss the best eCommerce mobile app ideas that you can follow in 2023:
1. An App to Sell Used Items
These days people’s standards of living have changed. Now they no longer hesitate to use second-hand products as long as they are in the best quality and condition.
The success of Craigslist’s online classified app is the perfect example that demonstrates people changing shopping patterns.
According to Business Insider, Craigslist is one of the top 20 websites in the USA that generated over 1 billion of revenue.
Google Play Store and App Store also speak about the success of Craigslist loudly. It has received around 5,000,000+ downloads on Google Play Store.
Craigslist is an online classified platform where people can buy and sell used items starting from furniture, household items, electronics, computers, and even cloth and jewelry.
This is one of the best eCommerce mobile app development ideas that you can follow in 2022 to establish a successful startup.
2. A Marketplace to Share Online Education Courses
The timeframe of Covid-19 completely transformed the education industry. Nowadays learners shift their attention from offline classes to online classes.
According to Research and Marketers, The global online education market was calculated at US$187.877 billion in 2019. With a Compound Annual Growth Rate (CAGR) of 9.23%, the market is expected to become US$319.167 billion by 2025.
You can contribute your share too in increasing the value of the global online education market by developing a marketplace to buy and sell online learning courses.
Coursera is a globally recognized online course provider app that is creating a library of online courses. According to Business Wire, Coursera had 87 million active users in 2021 resulting in revenue of $184.411 million.
Considering the success of Coursera, don’t you think developing an eCommerce mobile app for buying and selling online courses can help you build your startup?
3. Smart Home Products
Technologies making the lives of people easier. Internet of Things (IoT) is one such technology that makes home appliances smarter by fueling intelligence in them.
For example, when you open the door, it is the signal for the bulb to light up, the fan to turn on, and the music system to play some relaxing music. All this can happen quickly and automatically ensure 0% human interventions.
Now, let’s come to the idea of developing an eCommerce mobile app where you can sell smart home products. Amazon, Flipkart, and so other eCommerce mobile apps also included smart home products in their offering considering the increasing demand.
According to Fortune Business Insights, the global smart home market was valued at 99.89 billion in 2021. With a CAGR of 21.1%, the market is poised to reach 380.52 billion by 2028. The progressive market makes it the right choice to invest in an eCommerce mobile app development for selling smart home products.
4. Natural Products Selling App
More and more people are becoming aware of their lives and using natural products to achieve their goal of living a healthy lifestyle.
The market also seems progressive for selling natural products online. Business Research Company reports that by 2026 the market for organic products is expected to grow to $437.36 billion which was valued at $259.06 billion in 2022.
In tandem with the growing market size for organic products, this eCommerce app idea is a perfect way for you to establish your startup online and make revenue from it.
5. Sell Handmade Products
The use of machines is replacing humans in the manufacturing of everything from clothes to gadgets to food. Although, there is still a large community that prefers to buy handmade products.
According to Expert Market Research, the market for handmade products was valued at USD 647.57 billion in 2020. By the year 2026, the market is projected to reach USD 1,204.7 billion. Hence it is the right time to develop an eCommerce mobile application that sells handmade products online.
Also read: 20 Best Innovative Web App Ideas for Startups to Make Money in 2022
Final Take: Top Tips and Resources For New Entrepreneurs
These were a few of the best eCommerce business ideas that have the potential to turn into a successful startup. The best way to realize the potential of these ideas is to hire a reliable eCommerce development company.
Konstant Infosolutions is a leading mobile app development company backed by the proven experience of offering high-quality mobile applications with a minimal budget. Take one step further on the journey of creating a next-gen inspiring startup by connecting with the company and sharing your development goals.
Frequently Asked Questions
1. How do I start a successful eCommerce business online?
- Find the best eCommerce business idea.
- Gain a complete understanding of your competitors and target audience.
- Set up the online presence of your eCommerce business.
- Define your business strategy.
- Launch your business.
2. What are some examples of successful eCommerce startups?
- Platform like Flipkart
- App like Nykaa
- eCommerce sites like Etsy
- Walmart
- eBay
- Amazon
- Colvia