Ecommerce is a growing industry, so it should be attractive to any aspiring entrepreneur. U.S. ecommerce retail sales exceeded $300 billion for the first time ever in 2014. However, many ecommerce business models are overly saturated or monopolized by large brands such as eBay and Amazon. There are a number of more creative business models that you can pursue. Here are some ideas for ecommerce entrepreneurs in 2016.
Specialized Cooking Products
The number of Americans eating out has dropped considerably in recent years. More Americans are preparing their own food, but expect the same level of quality as the food they can order in a restaurant.
Brooklyn based Eatingtools is an ecommerce company that sells high end cooking utensils. If you are a fan of the culinary arts, then you may want to consider a similar online business model.
Domain Name Brokering
Relying on eBay or a free webhosting service just doesn’t cut it anymore. Every serious online business will register their own domain name. The demand for domain names will continue to grow as ecommerce becomes a more popular business model. A white paper from Verisign finds that the number of top-level domains increased 12.1% year-over-year.
One of the challenges they face is trying to find a relevant name that wasn’t already taken. This is where you can come in. You can create a domain name brokerage that helps businesses purchase the right domain name for their business.
Online Scholarship Portal
As the costs of education are rising sharply, students are trying to expand their access to scholarships. A number of scholarship directories such as schoolsoup.com. The organizations offering these scholarships will often pay for the listing to maximize exposure. This is an undervalued business, so it might be worth checking it out next year before more competitors emerge.
Affiliate marketing isn’t a form of ecommerce per se, but it involves promoting other ecommerce companies. You will be responsible for sending traffic to these companies and receive commissions for leads or sales that you generate.
According to Affiliate Summit, the affiliate marketing industry is growing significantly in the coming years. The industry is becoming more competitive and the cost of traffic is rising, but it is still possible for new affiliates to break in and become very successful.
Lead Generation for Health Insurance
The changes wrought by the Affordable Care Act have had a profound effect on many consumers. Many people are looking for alternatives to the plans that are sold on the exchange, but it is difficult to find the best plans that suit their needs. You may want to help generate leads for health insurance companies or brokers. They can pay a sizeable commission for any leads that you generate online.
Brainstorm Different Ecommerce Ideas
Demand for ecommerce will probably continue to grow in 2016. You will want to pay close attention to the different industries that could benefit from ecommerce and try to come up with your own business model. It may be worth using a service like Network Solutions to launch it.