Taking a risk and starting a business on the internet sound exciting. But not only does it require a significant amount of dedication and sincere work, but there’s also an overcrowded market of e-commerce waiting for all these startups. Thus, new businesses need a proper strategy if they want to compete and survive in the market.
Statistics from the E-commerce Guide show that the e-commerce market has been growing each year. Experts are predicting retail e-commerce to reach $4.13 trillion in 2020. To compare, in 2019, retail e-commerce sales were $3.53 trillion.
With significant growth like this, there comes new opportunities and competition. Therefore, entering the e-commerce market might be promising, but it can also be unsuccessful. Today, we will share some of the best ideas for low-investment e-commerce business ideas. This way, you won’t have to invest much but still get a great chance to succeed.
Idea #1: Start a Print on Demand Business
If you want to start a successful low investment e-commerce business, then a print on demand platform could be one of the choices. Print on demand is an effective dropshipping model. It allows you to create designs for the products that you pick out. The most popular products for a print on demand business are considered to be t-shirts, hoodies, hats, phone cases, and stickers.
To start with your new business, you’ll need to pick a product to work on. Then, choose from various models of products. The next step is to either create a design or ask a graphic designer to do it for you. To have a better chance of success, invest in original designs created by professionals. We live in times when consumers value unique products and services.
Unfortunately, the e-commerce retail market is oversaturated with hundreds of similar designs. And to overcome your competition, you must create additional value. It can be the uniqueness of the design. Or, you can go another way and choose a model of a t-shirt that is made from organic materials. This way, you will reveal how much you care about sustainability.
Idea #2: Work on Digital Products
Our world got even more digitized than it was, especially in 2020, when the Covid-19 pandemic happened. And it has changed the perspective of digital products forever. The demand for digital products and solutions is big right now. Therefore, it is a perfect environment to create a digital product of your own.
The product can be digital tools, apps, music, courses, templates, or e-books. Now, when society is spending most of the time at home, there are a few different branches you could focus on. And some of these software products can be used to accelerate your project’s growth, not only to sell it to others.
The first and probably the most important branch to focus on is work. Employers need apps and tools for group communication and increased employee productivity. As it is well known, productivity mostly drops when working remotely. Other digital products, like group communication tools or virtual reality systems, help with studying and entertainment. There’s no better scenario to present your courses, music, and other digital entertainment solutions.
Idea #3: Publish a Book
As many new needs are occurring while the pandemic lasts, quite a few of them can be satisfied by purchasing a book. The more time people spend at home, the more challenges they have to deal with. For example, if you were to have a family holiday celebration before the pandemic, you would probably choose to go to a cozy restaurant.
Although now, you would have to cook the meal yourself. To solve this situation, you can either use Google for a recipe, watch a YouTube video, or purchase a book that makes gourmet cooking simple. And this is just one example. It’s also more challenging to hire a repair service – so to learn how to do it, someone may need a book and a proper guide.
A book worthy of publishing could also fulfill the existing demand for entertainment. If photography is your profession – publish a book with funny animal pictures. If you’re good at graphic design and drawing – draw a comic book.
Idea #4: Create Hand-Made Products
Creating anything unique will most likely sell better than something of mass production. Therefore, selling handcrafted items that have no equivalent sounds promising. A skill to produce hand-made items can be something you learned in your childhood, like knitting. Or you can learn a skill by dedicating some time to learning.
Some popular items to craft are jewelry, pottery, soap, and candles. Even if there are numerous websites that sell mass-made items of the same type, yours will be unique. This gives you an advantage over mass production – people value originality and uniqueness nowadays.
Idea #5: Online Investing
With the advancement of technology and its high speed, technology has allowed many investors around the world to invest in vital markets, including the financial markets, especially global stock exchanges and forex market, as they offer to invest in products online on currencies, metals, major indices, stocks, and bonds.
Today, online investing offers the opportunity to trade from home without the need to go to those markets personally, and just simply enter online at any time, as the trading platforms cover geographical gaps across the globe, allowing investors to reach products on a laptop or a small mobile at your desk or on go.