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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!

Top 5 Industries to Start an Online Business in 2018

It’s a New Year and it’s time for a “New You”! Start your own online business in 2018 in one of these top trending industries.

By: Catherine Perry

As we enter into a brand new year, our thoughts once again turn to new beginnings. For most of us, we begin the process of assessing the passing year and creating new goals for the new year.  As you consider 2018 both personally and professionally, you may find yourself thinking about making a change in your career. Because what you do professionally also has ramifications that spill over into your personal life–and because becoming your own boss can change your life in awesome ways–we suggest you consider becoming your own boss by owning an online business.
Owning an online business provides you with flexibility of time and location as well as the satisfaction of directing your future in ways that other jobs don’t.  As an ecommerce owner, you are participating in a segment of business—ecommerce–that is experiencing tremendous growth, and the below statistics show the projected growth in the years to come.
  • In Forrester Research’s latest report, “Forrester Data: Online Retail Forecast, 2017 to 2022,” they write that “ecommerce will account for 17% of retail sales by 2022, up from a projected 12.9% in 2017.” The author, Forrester’s analyst Susan Wu writes that “online growth is far outpacing offline growth.”
  • According to www.smartinsights.com, based on their research and using www.eMarketer.com as a source, “retail ecommerce sales will increase to $4.058 trillion in 2020, making up 14.6% of total retail spending.”  Their projections for total retail sales are $22.737 trillion by the end of 2017, which is up 5.8% from 2016.
These numbers simply show that the online marketplace continues to be strong and growing for the future. As lives get busier, people are turning to ecommerce as a convenient solution to many needs. Any business that has a strong demand in our culture lends itself to a strong digital marketplace.
When you are looking at ecommerce businesses, you will find there are many industries– with many niche markets–from which to choose. It can be a bit overwhelming, we admit! So, we thought our annual list of the industries that are showing strong and growing revenue numbers might help give you some direction. This year, however, we are highlighting the top five general industry categories that you can look at for strong growth going forward into 2018 and beyond. Within these categories there are many niche markets (too many to discuss fully) that are excellent choices for online businesses! (Please note that these are in no particular order.)
Our 5 online industry categories are:
  • Health, Fitness and Wellness
  • House and Home
  • Outdoor Recreation
  • Pets
  • Babies and Children

Health, Fitness and Wellness

A great thing has happened…health and wellness is at the forefront of people’s minds! And, consumer spending shows it. According to www.lightspeedhg.com the wellness industry is “one of the world’s largest and fastest growing industries, with an estimated global worth of $3.7 trillion and double-digit annual growth across all wellness sectors since 2010.”
Online resources and social media have been drivers in the growth of this market with many experts and online apps available for advice and guidance. There are multitudes of online health and fitness forums and nearly 8,000 fitness apps available online. Clearly, people are turning to online as a huge source of information and products in this industry.
These niche markets are included in the health, fitness and wellness industry:
  • healthy eating
  • nutrition
  • weight loss
  • yoga
  • exercise
Within these niche markets there are many avenues–everything from foods, equipment, accessories and apparel are great markets for online businesses in the health and fitness industry.

House and Home

Staying at home is a trend. Who would’ve thought that staying home for a weekend, eating in and entertaining friends and family would become so popular?! But, it is. Again, the busier life gets the more people want to stay home and renew themselves. They can get everything they need online so why go anywhere?! With this, people are more interested in having their houses reflect their own tastes and really be places of respite and comfort. So the house and home industry is flourishing—especially the online options. Within this general industry you find these niche markets:
  • Home Décor
  • Furniture
  • Housewares
  • Outdoor Living

Furniture

Just as we reported last year, home decorating through online shopping is a very strong market! We continue to see shopping online for furniture in many styles—vintage, contemporary, modern, industrial—especially, with the millennial generation. “In a furniture market that is growing at a rate of 2.9% annually, e-commerce sales are expected to double, from $15 billion in 2012 to $32 billion by 2018.” According to eMarketer, “E-commerce accounted for 21% of total furniture sales in 2014, and it is forecast to grow to 30% by 2018.”

Home Décor

Shopping online for Home Décor is big. Think about it…who can turn down sitting on the sofa or lying in bed shopping for accessories that make your house a home with your own personality throughout? The Home Décor industry includes as many niche markets as there are styles. You can find wall art, lamps, lighting, pillows, rugs, bedding, window treatments—and the list goes on—in any style with any kind of particular flair.

Housewares

This year we have added the Housewares niche market with the home décor market based on our research. 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. Housewares and home furnishings retailers had $14.70 billion in online sales in 2016, accounting for 13.5% of overall sales in the category, up from 11% in 2015.”
Included in housewares are:
  • Kitchen gadgets
  • Dishes
  • Glassware
  • Cooking utensils

Outdoor Living

In the same way that people are creating the “inside” of their homes, they are also investing in outdoor living whether it is on their balconies, patios, back and front yards, or whatever space they have available. There is nothing like some “alfresco” dining or relaxing by a fire pit! The Outdoor Living is a strong niche market for an online business.
In their April, 2017 article on outdoor trends, www.countryliving.com reported that the number 1 trend of 2017 was creating a “seamless transition from your home to your outdoor space….” Decorative items that bring the indoors to the outdoors on porches and in yards is very popular as an online niche market. Rugs, ottomans, tables, wall art, pillows and blankets for the outdoor spaces have gained traction in a big way, and this trend won’t be disappearing in the near future!

Pets

Our research tells us that the online market for pets is continuing to be a strong one going forward. Our affinity and love for our canine and feline family members has created a retail market that is still number one. According to the www.digitalcommerce360.com article “Ecommerce is Expected to Grow to 17% of US Retail Sales by 2022” written by Matt Lindner in August 2017, “The fastest online category growth will continue to come from the pet category.” As of April, 2017 it was reported by www.mashable.com that “Spending in the American pet market as a whole is projected to reach nearly $70 billion in 2017—almost double what it was a little over a decade ago, according to the American Pet Product Association.” It is difficult to argue these numbers! Consider a niche market in the Pets industry. This industry includes all things for pets—food, supplies, toys, accessories, and apparel.

Outdoor Recreation

Outdoor Recreation plays a significant role in American lives. Because the need for work-life balance has become more of a focus, outdoor recreation has become a strong retail market. We are even more keenly aware of the benefits that being outside and recreating can give us as our daily lives become increasingly busy. Outdoor recreation provides wellbeing, helps develop lifelong skills, inspires wonder and awe of the natural world and provides an alternative to daily routines. According to an article written by the Outdoor Industry Association, “more than 140 million Americans make outdoor recreation a priority in their daily lives, proving it with their wallets by putting $646 billion of their hard-earned dollars right back into the economy.”
At the core of the outdoor recreation economy is the outdoor consumer, whose diverse interests fuel a robust and innovative industry. They fill their garages with bicycles, dirt bikes, backpacks, boats, skis, tents, hunting rifles and fishing gear. Americans spend more on bicycling gear and trips ($81 billion) than they do on airplane tickets and fees ($51 billion).
Another resource tells us that an estimated 13 million U.S. households planned to camp more in 2017 than they did in 2016, and more than 1 million new households have started camping each year since 2017. Millennials are driving the growth as they are enjoying the outdoors in greater numbers and are using camping to add more balance to their lives.
Niche markets for outdoor recreation include accessories and equipment for:
  • Camping
  • Hiking
  • Biking
  • Boating
  • Winter sports like skiing and snowboarding
  • Hunting and fishing

Baby and Children

With over 4 million babies being born in the U.S. alone, there is a huge market for babies and children online shopping. According www.ibisworld.com, in their industry trends research, “The Online Baby Product Sales industry, which retails goods for infants and toddlers such as furniture, toys, strollers, formula, apparel and diapers over the internet, has expanded rapidly over the past five years, along with the overall e-commerce sector.” And this expansion doesn’t stop as they grow into toddlers, “pre-schoolers” and beyond.
Niche markets for infants, toddlers, and children include
  • Furniture and Home Décor for Their Play Spaces and Rooms
  • Clothes
  • Toys

Clothes

Based on www.businesswire.com research in their report “Global Online Children’s Apparel Market 2016-2020, analysts forecast the global online children’s apparel market to grow at a Compound Annual Growth Rate of 8.76% during the period 2016-2020. And, this is just clothing for children aged zero months to 14 years including outerwear, undergarments, sleepwear, socks, and tights. It also includes infant wear for up to 12 months, toddler wear from one to three years, and kids’ wear for children ages 3 to 10 years.

Toys

The toy market for babies and children is a huge retail market, both online and brick and mortar. Everything from educational toys, dolls, arts and crafts, games and electronics report strong numbers.  Last year in our report of top online industries, we highlighted the educational toy market and that market is still a very strong one this year. Parents want their children to have opportunities to learn while they are playing. Toys and products that provide a practical education experience are in strong demand. There is no question that the educational products and toys ecommerce market will continue to grow in the years to come.
Whew! Have we given you some ideas of online businesses you could own and enjoy? As research indicates, everyone is shopping more online. Most anything that appeals to the large pockets of population like Millennials, Gen-Xers, and Baby Boomers has the potential of being strong niche markets for online retail. As we said at the beginning, we have highlighted 5 very strong general retail industry categories with many niche markets within them. Look at the growth opportunities and then think about what you are interested in. You are only limited by your imagination.
To get ideas and options, we suggest you take a look at Pure-Ecommerce’s options for both ready-made internet business and custom websites. Become an ecommerce owner and make your 2018 full of new beginnings and opportunities! Do you have questions about these industries or on how to start an online business, post below, we’d love to hear from you.

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