The e-commerce industry has been exploding in the past few years, and it’s showing no signs of slowing down anytime soon. As consumers continue to demand convenience and personalized experiences, more and more new entrepreneurs are entering the e-commerce market each year to deliver precisely that.
The opportunities available to you in the e-commerce world have never been better. Whether you’re selling full-priced or discounted items, you can reach millions of potential customers through just about any device or platform imaginable. Here are some of the best e-commerce opportunities to look into in 2022 and beyond.
Selling Used Products
Selling used products is a great side hustle because you can do it at your own pace without much hassle. It’s not uncommon for people to start selling products they no longer use directly to consumers online. And while there aren’t too many marketplaces you can do that on, you might be able to sell them on Amazon or another e-commerce platform.
Become a Fulfillment by Amazon Seller
Selling Amazon inventory through FBA is designed to make it easier for online sellers and business owners to sell their products. Under FBA, sellers select items they want to sell on Amazon, ship those items directly to Amazon for storage, and let Amazon fulfill all customer orders.+
The most common use of FBA is to store private label products that you create or manufacture yourself. However, selling existing inventory through FBA is also possible. If you don’t have or don’t want your own product line and still want access to Amazon customers, selling existing inventory through FBA can be a good option.
Shopify is one of today’s most popular eCommerce platforms, powering more than 600,000 online stores. But not all Shopify merchants use it to build traditional online shops with their own inventory. Instead, some have built dropshipping businesses that leverage Shopify’s existing infrastructure to sell products from other companies.
For example, a vendor can sell their products on Shopify via a third-party app that connects through its API and sells them directly. The seller doesn’t need to manage inventory or shipment logistics. Shopify handles those things through its platform.
Targeting Affiliate Earnings
Depending on your niche, you may be able to pull in significant revenue from affiliates. Work with a network like LinkShare or ShareASale to target retail affiliates where you can earn 7-15% commissions on sales plus additional fees for referrals. Assuming you can get $100 per sale off a $1000 order, that’s about $10 for every $100 product sold without lifting a finger after sending customers to Amazon.
Building a Marketplace Business Model
Perhaps no online sales model has garnered more attention than marketplace businesses like eBay, Etsy, and Amazon. By connecting buyers and sellers directly, they’ve fundamentally changed consumer expectations of buying goods and services online.
For example, people used to search for a specific product through Google. If a website didn’t have it, then you’d have to try another website or just give up on finding what you wanted. However, marketplaces allow you to find any product your heart desires, even if that item doesn’t exist elsewhere online.
Partnering with Brands on Giveaways or Promotions
One way to make money selling on Amazon is by partnering with brands on giveaways or promotions. The Amazon seller who runs the promotion creates a custom link that provides a unique code to share via social media, websites, and email. When customers click through and buy that item, you earn an affiliate fee.
It’s best to target popular items that are likely to be purchased through your link. There are some essential factors worth considering when creating these links:
- How relevant is your product to what customers might be searching for?
- Is it possible for buyers of your product to go elsewhere and find better options?
Moving into a Niche Subscription Box Model
Subscription boxes are all over social media, but they’re also on their way to becoming a billion-dollar industry. As consumers continue to look for convenience and high-quality items, subscription boxes will become one of the most critical business models of tomorrow.
Think of Amazon, but with goods that arrive monthly instead of packages that arrive every few days. Instead of books or electronics subscription box companies offer anything from clothing to home essentials.