Online Business Opportunities for 2014
Online Business Opportunities Are Ripe For The Taking!
There’s never been a better time to stop dreaming about being your own boss and becoming it because there are so many online business ideas out there that will create great opportunities. The global ecommerce market will experience huge growth in 2014, according to some estimates by eMarketer. Ecommerce sales are forecast to increase 17% bringing sales to $1.2 trillion dollars globally. The great thing about an online business from Pure-Ecommerce is that you’re not limited by borders. Your market is the world. We have clients in Australia, Canada, the United Kingdom and the US.
Focusing only on the US market, the trend is still positive. Online retail sales in 2012 were $225.5 billion and the forecast is for those sales to almost double and reach $434.2 billion in 2017. So what are some of the best online business ideas? Which markets are forecast to grow? Here are 5 niche market industries expecting growth now and that are forecast to have continued growth making them strong online business opportunities.
5 Booming Online Business Opportunities
1. Pet Industry
- The APPA (American Pet Products Association) reports that Americans spent $55.53 billion on our pets. The pet industry is expected to grow 4% annually through at least the year 2018.
- “Pet parenting” is a trend which as baby boomers age is expected to continue growing because boomers are facing empty nests and replace spending on their children with spending on their pet children.
- Experts expect consumers to return to small, pet boutiques rather than the big box stores. Pet parents in particular are looking for unique products and shops that will cater to them, instead of focusing on stores with the lowest price.
2. Wedding Industry
- In the US, over $50 billion is spent on weddings. CNN Money reports they expect growth of 2.3% by 2018 in the US.
- In the United States, there are over 2 million weddings each year and according to a report by Demographic Intelligence it is forecast to increase by 4% annually.
- The average cost of a wedding in the US is $28,400 and 78% of couples use the internet to find wedding products and services for their big day.
3. Baby Industry
- According to Packaged Facts, the global baby care product industry caters to around 4 million babies on a yearly basis and generates almost $7 billion.
- In a report by Global Industry Analysts, the industry will reach $66.8 billion globally by the year 2017.
- IBIS World states the convenience of online shopping will help to maintain projected growth of 14.5%.
4. Furniture Industry
- IBIS World reports online furniture sales are projected to grow 9.6% even though retail stores have experienced negative growth.
- US online furniture sales will reach $91.6 billion, a projected increase of 20.1%.
- Online furniture retailers were less affected and still experienced growth during the recent recession while brick and mortar stores were greatly impacted.
5. Medical/Senior Care Industry
- We're living longer because we take better care of ourselves. Because of this, the senior population is growing rapidly. By 2029 when the last of the baby boomers turn 65, the senior population is expected to have more than doubled what it was in the year 2000 to 88.5 million.
- According to Plunkett Research, what we spend on health care in the US accounted for almost 18% of the Gross Domestic Product (GDP).
- Female baby boomers are the prime target for these type of sights because they have spending power, they are proactive with their health and research products. Partnership Capital Growth reports female baby boomers spend an average of 13+ hours a week online.
Is Pursuing An Online Business Opportunity Right For You?
Ecommerce is a booming business and a great start-up idea for those wishing to be their own boss. There is minimal investment required in starting an online business and you couldn’t even consider opening a physical store for what it takes to open an online store. Brick and mortar sales are suffering and online sales are growing. Shoppers are looking for unique products and fantastic customer service, the decision doesn’t come down to price at all.
Purchasing an online business for sale is a big step that requires much introspection. An honest evaluation should be conducted to determine if you are really cut out for being your own boss. It takes a lot of self-discipline and self-motivation. There is a lot of work to be done, even with a site that is ready to go like the online business opportunities we offer. A ready to go business in the box offers the initial set-up and you’re ready to begin selling products right out the door, but this doesn’t mean there is no work involved. You will have to continue to build and market your business in order to be successful.
The advantage we offer with our online businesses for sale is that you’re not alone. You have a team of mentors who will guide you through the process of setting up and launching your business. Each of our ready to go ecommerce sites come with 40 hours of step by step consulting which will get you off on the right foot. Yes you will have work to do but you won’t be alone. We will be there to let you know what you should be doing. You just have to be willing to accept and follow this advice.