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Top 5 Industries to Start Your Online Business in 2019

A New Year means it’s time for a New You! Start your online business in one of the top trending industries for 2019.

By Rhonda Richardson-Burns

Each year we are given 365 new opportunities and as the New Year arrives we begin reflecting on our lives and careers.  Is this the career path and lifestyle you truly want to have or is this the year you start living the life you have always dreamed of? Assessing our careers and the lifestyle that develops around our career can often leave us dreaming of new possibilities, more freedom – more opportunities to live the life we desire.  Becoming your own boss can change your life and your lifestyle dramatically; providing you opportunities and freedom. Freedom from the 9 to 5 grind; freedom of where and when you work, freedom to prioritize what is most important in your life.
Becoming an online entrepreneur by owning your own ecommerce business provides you the flexibility to work when and where you want to. Like to travel? – work from anywhere in the World. Don’t like to travel? – work from home. Night owl or early bird? You have control over your future, your business and your schedule.
The rise of ecommerce has been one of the best ways to own your own business and it is projected to continue to grow for years to come as shown in the below articles.
  • Mark Walker-Ford of SocialMediaToday.com published a report that states worldwide ecommerce sales will grow from a $2.8 trillion industry to $4.5 trillion industry by 2021 – that’s a 58% growth in just 3 years! Walker-Ford’s report shares an infographic from www.Subscriptionaly.com outlining the future trends that will shape the ecommerce industry.
  • Digital Commerce 360 states that online sales are making gains and are projected to account for 17.0% of all retail sales within the next five years, according to Forrester Research Inc. In their latest report, “Forrester Data: Online Retail Forecast, 2017 to 2022,” Forrester writes that e-commerce will account for 17.0% of retail sales by 2022, up from a projected 12.9% in 2017.
As the above two articles report (plus many more) the future of ecommerce is strong and it will continue to expand globally into more markets and industries. With the ease of ordering from anywhere at any time – from any device ecommerce provides a solution that brick and mortar stores simply cannot offer. In fact, Ann Neal of www.risnews.com in her article “6 Ways Retail Technology is Changing the Future of Online Shopping” reports that over 51% of Americans prefer shopping online. And when it comes to technology Neal’s report reveals that “86 million Americans use their smartphones for online shopping”.
Starting your own ecommerce business and becoming an ecommerce entrepreneur requires finding the industry and niche that you want to serve, which can be a challenge for some. There are so many to choose from that we decided to do some research to help you decide which industry is right for you! Here is our annual list of the Top Five Industry Categories. These categories also represent many niche markets (too many to fully explore) that are all excellent choices for your ecommerce business; so get ready to make 2019 the year you create the life you always dreamed of!

Our Top 5 Online Business Industry Categories are:

(Please note these are in no particular order.)

  • Health, Fitness and Wellness
  • Spirituality
  • Survival
  • Pets
  • Furniture and Home Décor

 

Health, Fitness and Wellness

The health, fitness and wellness category remains one of the top trends in ecommerce! As of September 2018, the wellness industry represents a $3.7 Trillion global economy according to www.marketplace.org and according to Katherine Johnson, senior research fellow at the Global Wellness Institute “It’s huge and growing fast.”
In 2018, the fitness segment in the U.S. alone amounts to $3.463B. While the market is expected to swell with an annual growth rate of 4.3%, reaching $4.1B by 2022. Ecommerce has paved the way for the health, fitness and wellness space to reach an even wider market. While millennials are a huge force when it comes to online health, fitness and wellness spending their money on maintaining a healthy lifestyle. “They indulge in health foods… and according to the Organic Trade Association, “52% of organic consumers are Millennials.” www.entrepreneur.com
Below are just a few of the many niche markets included in health, fitness and the wellness industry:
  • Holistic living
  • Specialty diets/foods – i.e., Gluten free, Dairy free, Organic
  • Convenience Foods/Meals
  • Yoga
  • Exercise
  • Weight loss
  • Nutrition

 

Spirituality

More and more people are striving toward a more balanced life including wellness, lifestyle, and spirituality. Research over the last several decades demonstrates the fact that you cannot separate the mind, body, and spirit in health and healing (www.purebalancehealth.com).  This category has tons of niches that continue to expand as the need for self-discovery, spiritual awareness and personal development continue to grow.
According to www.quora.com Spirituality and the niches it represents are hotter than ever!
Here are just a few niches in the Spirituality category:
  • Personal Development
  • Socially Conscious
  • Astrology
  • Religion
  • Psychics
  • Meditation
  • Natural Health and Healing
  • Essential Oils

 

 Survival

The Survival industry continues to grow and not just over the increasing concern of economic, environmental or infrastructure concerns. There are several other reasons why the survival category has reached such a huge audience worldwide. Television has brought survival to the forefront with reality and experience shows like Survival Live, Man vs. Wild, Homestead Rescue and many more. There are also numerous blogs and forums dedicated to Survivalists, Prepping, Homesteading, and Sustainable Living just to name a few. While it is impossible to pin down one reason, in the article “The Doom Boom: Inside the Survival Industry’s Explosive Growth” from Carly Stec at HubSpot she says, “the rise in prepared living seems to stem from uncertainty….this movement doesn’t seem to be losing steam anytime soon”.
Here are some of the most popular areas in the Survival Industry to explore:
  • Home Defense
  • Prepping/Preparedness
  • Grow your own Food
  • Homesteading
  • Sustainable living
  • Survival Gear

Pets

Pet lovers unite! People love their pets; whether it’s a dog or cat, rabbit or snake. People love to spoil their pets. From home delivery of pet food and treats to pet care services this category continues to expand.  “The pet industry has been experiencing explosive growth. According to The American Pet Products Association, almost 85 million households have a pet and over the last 30 years, pet ownership has gone from 56% to 68% of all households. Forbes discusses “The Biggest Trends in the Pet Industry” and some changes in pet ownership are due to technology and the advent of online purchasing”. They found that millennials and Generation Z consumers have come into adulthood and they are embracing being pet parents and the pet-loving lifestyle to a far greater extent than their elders. They found baby boomers account for 32% of pet ownership, while households headed by younger generations account for 62% of pet ownership.
Some niches in the Pet category are:
  • Food & Treats
    • Organic
    • Fresh
    • Delivered
  • End of life
  • Subscription Services
  • Pet Supplies
  • Personalized Pet products
  • Apparel
  • Pet Health

 

 

Furniture and Home Decor

Staying at home is the new trend. Who would have thought? The busier our lives get the more people want to stay at home and renew themselves. With today’s technology, you can get anything you need online at any time and get it delivered! So why go anywhere? People are more interested in making their homes reflect their own tastes but also for their homes to be places where they can recuperate and relax before hitting the grind again on Monday.
eMarketer reported that, “In 2017, online sales of furniture and home furnishings grew by just over 16 percent and sales soared to nearly $6 billion. That number is expected to exceed $60 billion annually over the next three years”.
In Forrester Research’s article “Online Retail Forecast, 2017 to 2022,” according to Forrester’s senior analyst Susan Wu, “By 2022 housewares will replace computers as the third-largest product category, with almost half of this spending occurring online”.
A few niche categories in Furniture and Home Décor are:
  • Housewares
  • Outdoor Living
  • Vintage
  • Minimalism
  • Nautical
  • Mattresses
  • Pillows

 

As you can see there are many opportunities to start your own online ecommerce business. Research indicates we are shopping less and less at brick-and-mortar stores and more and more online. With the ability to reach a global market the sky is the limit on where you want to take your online business. Reaching a target audience with a large part of the marketplace is key – who does your product/niche appeal to – Gen Z, Centennials, Baby Boomers, Millennials or maybe Generation X?
We have given you our Top 5 Industry Categories and several niches for each (again this is only the surface there are many more niches).  What are you interested in? What opportunity is there for growth? More importantly is 2019 the year you are going to start creating the life you always wanted?
To get ideas and get started, we suggest you take a look at the online business opportunities offered at Pure-Ecommerce that include both ready-made and custom websites. Now is the time to make a plan to become an ecommerce entrepreneur in 2019.
If you have questions about these industries or how to start an online business we would love to hear from you. We invite you to schedule your Introductory Call to discuss any questions you may have about becoming an ecommerce entrepreneur in 2019!

4 Simple Steps to Help You Set Your New Year Goals

Four steps to help you set obtainable goals in the New Year!

As you enter the New Year you are probably asking yourself, “Where will the New Year lead me?” “What goals and plans do I have this year?” Now is the time to set goals that you will be motivated to reach this year.
The beginning of a New Year causes us to reflect on the year that is passing and take stock of events that occurred, how we handled them, and what we want our next year to look like. It is the best time of the year to make both personal goals for ourselves and business goals. This requires us to have some quiet time to reflect and think about what we want for the next year and beyond. What? You say, “How on earth can I get quiet time now? There is too much going on for that!” We didn’t say it was easy to make the time. But, nevertheless, it is what we all need to do in order to be more satisfied at the end of next year.
Whether you are considering making a new start or going in a different direction with your career, or if you are an ecommerce business owner currently, you’ll want to look at setting some goals for yourself or your business. So, we wanted to help you get started and give you some tips on setting goals for the New Year!

First Step – Evaluating Current Situation

Jim Rohn was an internationally known entrepreneur and motivational speaker whose work focused on personal development. In his article “4 Tips for Setting Powerful Goals” on www.success.com he stated, “The most important benefit of setting goals isn’t achieving your goal; it’s what you do and the person you become in order to achieve your goal that’s the real benefit.” That’s interesting. Mr. Rohn indicated that the actual work you do to reach a goal through which you change and develop offers benefits that are even greater than achieving the goal. As true as this statement is, you still have to set a goal, and the first step is evaluating your current situation.
Where are you right now? What is the current situation—either in your life or in your business? And, are you satisfied with it? This may be a tough question to answer and require some strong reflection on your part. Answering this for you personally may be tougher than the answering it for your business.
Are you satisfied with your career? If not, what are you not happy with? Would you be happier owning your own business? Would you be happier with a more flexible schedule?
If you’re already an entrepreneur, are you satisfied with the growth of your business? All business owners want their business to grow, but many of us tend to stay with the status quo because we don’t take the time to evaluate what we need to do. How many sales did you have and how much profit did you make in 2019? How many marketing campaigns did you develop? Were you consistent in making your social media posts? Have you put in the adequate work this year? Then think about how you can do even more to grow your business further. Take an inventory of each detail that accounted for the 2019 business year in your evaluation.

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Second Step – Defining the Goal

In this step define your goals and even your dreams. You can think as big as you want to. Let your imagination go because if you can imagine it, you can do it! Your dreams can help you narrow the vision down to your specific goals. This step is about what you want. Give yourself time to figure it out. Do you want to change jobs? Do you want to travel? Do you want to spend more time with your family?
If you are setting business goals, you may be defining the profit you want to make in 2019. You may be setting goals for developing marketing campaigns, or for making actual sales next year. Remember, to make money you need to put in the work and advertise to reach your customers. Make goals and start working on a plan that will define your goals for 2019!

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Third Step—Developing a System

You may have heard of setting goals that follow the S.M.A.R.T. acronym, which means that your goals should be Specific, Measurable, Attainable, Realistic, and have a Timeframe attached to them. When you set goals that meet these guidelines, you can then create a system by which to meet them.
James Clear is an author who writes on topics such as living a better life and building habits that work. In his article “Goal Setting: A Scientific Guide to Setting and Achieving Goals,” he says that goals determine your direction and systems determine your progress in meeting goals. So, in effect, setting goals without having a system to meet them is a waste of effort. Clear maintains that you have to follow these 3 strategies when setting your goals: prioritize, specify and set an upper bound.
  • Prioritize

One of the greatest barriers to achieving your goals is the other goals you have. In other words, your goals are competing with one another for your time and attention. This means you have to prioritize your goals else you will have trouble reaching them. What is most important? What is least important? Be sure you evaluate each goal and eliminate those that are not necessary so they won’t compete with those that are.
  • Specify/Attach

It has been proven that you are “more likely to stick to your goals if you make a specific plan for when, where, and how you will perform the behavior. It is helpful to develop a timeline of when you want events to happen – For instance, “I will start my online business in 1 month, 3 months, 6 months, etc.”; “It is my goal to have my website up and running by ________”.
If you already own an ecommerce business This means that you should specify a goal (like 20 minutes of exercise) and attach it to a time or day (like Wednesday mornings) and location (like in the living room). A business goal for marketing your ecommerce business might look like this: “I will create my weekly social media marketing posts on Monday afternoons between 2 and 4 p.m.”
  • Set an Upper Bound

This means that you specify not only a minimum bound when setting a goal, but also a maximum boundary. For instance, instead of specifying that you want to do at least 2 blogs a week on your website you might also state that you want to do no more than 4 blogs a week. Clear says that “upper limits make it easier for you to sustain your progress and continue showing up.” Creating sustainable processes and systems will help you meet your goals.

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Fourth Step—Measuring

The last step in setting and achieving goals is the measurement. If you don’t measure, then you really don’t know how close you are to meeting them. If you have set goals that can be measured, then there are several ways you can use in determining where your progress is.
In the article “Measure Your Progress. How to Stay on Track with Your Goals” on www.coachingpositiveperformance.com, the author gives 5 methods to use in measuring progress:
  • Quantitative measurement – Find some way to quantify your progress in meeting the goal.
  • Stay on the plan – Stick with the system/plan that includes your milestones and timeframes.
  • Keep a record – Keep a record of your progress.
  • Use checklists – Create checklists made up of your list of tasks to be completed and dates to be completed.
  • Rate your progress – Develop a rating system that may be your subjective qualitative measurement of your progress.

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We hope you have found these four steps helpful in setting your goals for the new year. If you spend some time now evaluating where you are, identifying where you want to be, and setting a process up to get there, we know that you can make next year an even better one for yourself and your business!

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