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Top Five Industries to Start an Ecommerce Business for 2020

top-industries-ecommerce-2020

Jump Start Your New Year with an Ecommerce Business in One of These Top Industries

By Bailey Holtz

Happy 2020! So much has changed in the past decade. For instance, algorithms became the primary way media sites like Facebook and YouTube presented their wares to us. While humans shifted away from big computer screens to smartphones and tablets for their internet needs. Plus, marketers finally recognized the game-changing power of social media to build their brand. It has truly been—for better or for worse—the decade of the internet. 

We, at Pure-Ecommerce, of course, like to look on the positive side of internet use! The internet has made online buying an extremely attractive option for consumers. At the beginning of the decade, in 2010, only 6.4% of all retail sales were made online, according to Digital Commerce 360. By 2018, that number had rocketed to 14.3%. While in 2019, online merchandise sales finally beat out in-store merchandise sales, reports CNBC. For the first time ever, Americans were buying merchandise more online than in brick-and-mortar stores—a landmark moment. 

Some sectors, in particular, have experienced massive growth online, according to Modern Media. They include Style & Fashion, Home & Garden, and Health & Fitness account for the largest percentages of online sales. Health and Fitness and Style and Fashion also have the highest median growth. And these are all sectors that are easy for new e-retailers to access—but more on that later! 

Research conducted on consumer preferences points to a great affinity for online purchasing. And we get it. At this time, 96% of Americans have made a purchase online at some point in their lives. 80% of them have even made it within the past month. That probably includes me, as well as, you, right? So we all know first-hand how incredibly easy and stress-free online shopping is. We are happy and eager to spend online for the ease and convenience it affords. 

Thankfully, the internet shows no sign of losing any of its business-boosting power. There is also no sign of passions cooling on the part of consumers either. CBRE projects that by 2022, online sales will bring in no less than $891 billion. And again, those lucrative Health & Fitness and Style & Fashion sectors are topping the charts in growth and popularity. Currently, according to Lightspeed, the health and fitness industry is valued at 3.7 trillion dollars and continues to grow. (Hint, hint, to anyone contemplating starting a new business…but again, more on that later!). 

Many millions of people have harnessed the ever-growing power of the world wide web to build a life they love. According to Chron, every year over 627,000 new small businesses open online. Starting a business online requires far less effort and startup costs than a physical retail store. You can also start your ecommerce business from literally anywhere in the world. All you need to have is a computer with an internet connection and the desire to work hard! In our age of speed and simplicity, it would be foolish NOT to start an ecommerce business. Especially if you have a desire and a passion to do so. 

The only “but” is: what sort of business to start? Well, if you have the will, we at Pure-Ecommerce have the way! We’ve been helping individuals bring their business dreams to life for 13 years and know where to find success. We’ve compiled a list of the top industries to start an internet business in for 2020. These are industries that are big, diverse, and can accommodate new and exciting ideas that are all your own. Read on to find your very own niche!

Personal Wellness

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Ah, taking care of ourselves for once! We understand our lives have become increasingly hectic and stressful this past decade. This has lead to the movement to improve our individual sense of wellbeing has grown, too. In 2018, according to the Global Wellness Institute, the global wellness economy was a $4.5 trillion market. Right now, global wellness expenditures are more than half our spending on global health. That is a pretty compelling statistic; we are spending more than half as much on our wellness as on our physical health. 

The industry also is one that has seen truly explosive growth; between 2015 and 2017, the wellness industry grew nearly twice as fast as global economic growth. 

If you’re looking for a smart horse to hitch your wagon to, personal wellness is a top choice! Pure-Ecommerce has tons of ready-to-go personal wellness sites to choose from, from Spirituality to Sports and Outdoors. And if your idea doesn’t fall into any of our ready-to-go categories, you can always build a custom business

Kids and Infants

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This may be a surprising inclusion, as there is a common conception that Millennials are not having children. If we are looking at a society with far fewer kids, why should you be selling products for kids? 

New research, however, is showing that Millennials aren’t shunning the idea of parenthood. They are simply postponing it until they feel more prepared to take on its pressures and challenges, according to Psychology Today. And once those kids show up, boy, do parents love to treat them well! CNBC reports that parents spend on average $348,000 on their children over the course of their lifetimes. 13% of that spending, says the USDA, goes to miscellaneous expenses, such as toys and clothing. Things that can easily become the basis of your online business! 

And more good news: Millennial parents are turning to the internet on their phones to make those purchases. According to the National Retail Federation, 78% of Millennials use their phones to research products. This is because most parents are on a perpetual time crunch. They are often willing to shell out more for conveniences such as next-day delivery. It looks like upcoming parents are more open to spending big on their little ones. 

Enticed by the idea of providing to new parents? A site geared towards products for kids and infants might just be right for you! Browse our Ready-Made Baby Boutique sites and Children’s Decor sites. Or, plot out your own little section of the market and build your very own business, our team is here to help! 

Furniture & Home Goods

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Thanks to television shows, blogs and, of course, Pinterest consumers are continuously inspired to update their homes. Whether it’s furnishing a new home or making updates and additions, people are shopping for new furniture and home goods. The most recent Global Home Furnishings Market report shows the industry is expected to grow at a CAGR of roughly 5.2% over the next five years. It is expected to reach US$988,200 million in 2024, from US$728,500 million in 2020, according to a new (Global) study.

If you’re a lover of sofas, settees, or any type of home decoration, this might be the perfect industry for you! Pure-Ecommerce has an abundance of both furniture and home goods ecommerce businesses. Browse our collection and don’t forget to take a look at the Kitchen and Cookware, American Style, and Vintage we have to offer you!

Outdoor Recreation

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The more we humans find ourselves hunkered together in cities and suburbs, the more we yearn to get away from it all. Right now, the Outdoor Recreation industry is valued at more than $400 billion. That’s $40 billion more than was previously estimated, says MarketWatch. The industry can be broken into two parts, according to Outdoor Industry. Spending on gear, like apparel, footwear, and equipment—valued at $120.7 billion—and spending on trips and travel. If you’re looking to start an online retail business, you can find tremendous success on the gear side of things!

What’s amazing about this sector is the incredible diversity of opportunities it affords. There is a vast variety of sports and outdoor recreation activities that people need equipment for. For example, fishing, camping, hiking, biking, football, baseball, golf, bird-watching…the list goes on! You can follow your own interests and sell exactly what appeals to you.  

We at Pure-Ecommerce are proud to offer Sports and Outdoors ready-made businesses, as well as, our services to help you start your very own business. Take action today and begin your journey into the great (retail!) outdoors! 

Pet Care 

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Have we saved the best for last? If you’re a pet owner, then the answer is probably yes! Pet ownership in the U.S. is sky-high right now. A whopping 68% of households currently owning a pet, according to Petfood Industry. Once again, the Millennials are leading the pack, having officially passed Baby Boomers in the race towards greater pet ownership.

And Americans don’t just get pets; they spend on them! Currently, according to Value Penguin, Americans are dishing out $72.56 billion per year on their furry friends. Americans feel that pets add to their sense of well-being—just like the personal wellness category above!—and are taking steps to add to their level of overall happiness. 

We at Pure-Ecommerce love our pets! That’s why we’re excited to offer you a variety of options when you start an ecommerce business with us. We can offer you custom-built business packages to design an amazing e-store for little furry friends. Or you can select one of our awesome ready-to-go business options too! 

2020 is the Year You Start an Ecommerce Business!

We hope we’ve armed you with enough information to make a decision about your new website! And we at Pure-Ecommerce have all the tools and knowledge to help you make it a reality; browse our ready-to-go businesses today, get started with a custom package, or build your own with our help and support. 

What are you waiting for? Start your own ecommerce business in 2020! Find out more about how we can help you jump start your New Year by visiting us at www.Pure-Ecommerce.com. Reserve your Introductory Call to speak directly with our CEO, Jeff Varner. Take the next step to ecommerce entrepreneurship…

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Pure-Ecommerce has been featured in many top shelf magazines such as Forbes, Entrepreneur and MarketWatch