There’s no question that there is a lot of money you can make by selling products online. Reports show that over 50 percent of shoppers will buy gifts for friends and family on their computers.
In 2019, online stores, both big and small, brought in over $147.5 billion just in the third quarter of the year. The real question is, how do you get a slice of the pie?
Can You Make Money Selling Online?
If you browse the internet long enough, you can find several websites that tout the advantages of running your own eCommerce business. Many people who market products online successfully make a good living selling toys, books, or t-shirts.
While it takes hard work and dedication to run an online business, it also takes the right products.
Finding a Niche
One piece of advice that all online entrepreneurs give would-be internet marketers is to find a niche. A niche involves finding a product or type that sells well or is in high demand to choose to sell on platforms like Amazon, eBay, or Shopify. Shopify will be the great choice if you’re planning to sell the great and most expensive dropshipping products, which can be found on websites such as SaleSource. For more info, check here.
If you can find the right one, it has the potential to make enough money for you to quit your day job, work from home, and plan your next vacation to Tahiti.
However, it can take a lot of research to find the right type of product to sell online. However, you can start your research with these top niches for 2020.
Top Niches in 2020
If you’re ready to try to get your piece of the pie online but you still need products to sell. Here are some of them that experts think will be bestsellers this year.
Healthy Meal Kits
Many people who want to learn to cook but don’t seem to have time for grocery shopping or preparing dinner are buying meals that are delivered to their doorsteps. These meal kits include fresh foods to prepare meals, along with the recipes and instructions to make them.
For many people who want to eat a healthy diet, these meal kits may be the answer to learning how to prepare healthy food. Also, those who follow specialized diets can find meal kits that meet their dietary requirements.
Adherents will find meals for diets or eating options like:
Drones and their Accessories
Although they are not toys, drones have captured the attention of hobbyists of all ages. There is something that fascinates people about learning to fly drones and using them to take photographs of your property or the activities of your city.
Many experts predict that drones will bring in about $7 million in 2020. Drones come in all sizes, from tiny drones that you can hold in the palm of your hand to those that are as big as large model airplanes.
The accessories for drones can also turn a good profit because some parts may need replacing when customers crash their drones or they may wish to add cameras and other accessories to them.
Many small eCommerce business owners make over $100,000 a year by selling custom t-shirts online. As an industry, experts contend that t-shirts will sell about $10 billion by 2024.
Custom t-shirts are available with original graphics and sayings in several colors for businesses or individual men, women, and children. Consumers who collect t-shirts will find a large variety of designs online instead of in stores like Spencer’s Gifts or Old Navy.
People that are interested in this niche will find several businesses that offer custom print t-shirts. They can get more on this site about selling t-shirts online and making a profit with them.
When selling products, you should look for consumable items to get recurring sales. However, subscription boxes are also a great way to get recurring sales as well.
Sellers can select from several categories of products that people want. Companies sell subscription boxes for almost everything, including:
Personal Care Items
Every year, the subscription box business has grown by 200 percent.
Make-up is always a hot seller online or offline. Along with people wanting more natural products, they also want them free of animal testing.
Going online to buy cruelty-free make-up is a good way to find brands that cater to ecology-minded consumers that many stores do not sell.
Since some consumers are careful about what they buy, they can research the products by reading product labels without feeling like they are being hounded by salespeople.
Experts expect the market for this type of make-up, and other cruelty-free products, to continue going about six percent this year.
Natural Skincare Products
Another item to sell online is natural skincare items. Many women and men want skincare products that contain natural ingredients instead of chemical ingredients that may be harmful.
These types of products have grown by about 10 percent per year, and the niche is expected to make as much as $22 billion by 2024.
Finding and Selling Niche Products
To sell products, such as these five niche products, you will need to have an inventory and ship what you sell to customers who order your products online.
However, if you don’t want to buy inventory and ship merchandise, you can find companies that dropship the products that you sell.
Dropshipping offers many advantages, such as:
Not needing to buy and keep an inventory
Shipping products directly from warehouses to customers
Not needing to money or set-up credit card accounts under your name
The cost of products are usually lower
It’s easy to set up an online business with dropshipping
Although it’s easier and more convenient to start an online business at home by dropshipping products, it takes a lot of work to research and find the right things with which to make money.
While you can get tips for choosing products, the available programs about starting eCommerce businesses can cost more money than you want to spend. However, there is great potential for making an extra income online.