Ecommerce Business Ideas for 2024
If you’re an entrepreneur deciding how to approach your startup, ecommerce is a solid choice. The ecommerce market continues to grow and technology is making it easier than ever for beginners to get started. Plus, there is so shortage of what you can sell.
Many people sell physical goods, but with eCommerce, you can also sell digital products or services. These products can be listed on your own eCommerce shop or through an online marketplace such as Amazon. There are some differences between selling on your own site or through a marketplace, but the success of each depends on listing your products and driving relevant visitors to your pages.
Whether you create a website or sell through a marketplace, the first step to launching a profitable eCommerce business is finding the right product idea. If you aren’t sure what to sell, this post has you covered. Below we will look at several ways to uncover quality eCommerce business ideas.
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How to Find Products and Niche Ideas for eCommerce Business
Amazon is the best place to find product ideas for eCommerce. The marketplace accounts for nearly half of all eCommerce sales. Even consumers that do not ultimately complete their purchases on Amazon go there first to search for the items they are interested in. Let’s look at how you can use several product research tools to find trending products on Amazon.
How to Find Ideas With AMZScout Product Database
The AMZScout Product Database is a product research tool that contains valuable sales data for hundreds of millions of Amazon products. Here is how you can use the tool to discover good products for your eCommerce store:
Step 1: Open the AMZScout Product Database.
Step 2: Sign in to your account. If you do not have an account, you can sign up for a free trial with just your email address.
Step 3: Use the search filters to find the best products. There are plenty of filters to control what products you see. You can filter based on sales, price, reviews, and more.
Step 4: Focus on the best products. The top products are those with high sales and strong trends. Set the sales volume filter to a 1,000 minimum and check the box for Trending Products to only show items with a 20% sales increase over the past three months.
After you’ve found some interesting eCommerce ideas, add them to a list. You will want to analyze them further to ensure they are a viable option for creating a successful eCommerce business.
How to Analyze Products on Amazon Website With AMZScout PRO Extension
The AMZScout PRO Extension is a product research tool that lets you analyze products and niches directly from the Amazon marketplace. Here is how you can use the Chrome extension:
Step 1: Install the AMZScout PRO Extension.
Step 2: Search Amazon for product ideas. Use Amazon’s search field to find the products you want to analyze. You can also go to the Best Sellers page to find the top items for each product category.
Step 3: Open the extension and analyze the sales metrics. Click the extension icon in the upper-right or bottom-left corners. You can then review important stats for the product such as sales, revenue, reviews and margin.
Step 4: Review the niche and product scores. These metrics provide a quick overview of demand and competition. There are product scores for both private label and reselling. Ideally, you want to find an item with a score over seven as it indicates a high demand and/or low competition.
Amazon isn’t the only place to find products to sell online. There are a variety of sites across the internet to see what items consumers value. We will look at some of these sites below.
Explore Pinterest for Product Ideas
Pinterest is a popular image based social media platform where users can share the things they are interested in. It is a great place to find new and unique ideas when you want to start selling online.
From the Pinterest homepage, click the Today section to find popular trends. This will take you to a page with a list of popular topics over the past three days. You can also find creative product ideas by using the search bar.
In addition to letting you search for a product directly, Pinterest displays a Shopping Spotlight section when you click in the search field. This section contains several types of in-demand products. When you click one of the lists in the Shopping Spotlight, you are taken to a page to review similar products pinned by other creators.
Look at Other Social Media Platforms
There are other websites you can use to find winning product ideas. Two other platforms worth exploring are Instagram and TikTok. Both are also focused on visuals. Plus, they are two of the biggest platforms for individuals and businesses to market their products. Check the profiles of influencers and other prominent figures to see what they are posting and marketing on the platforms.
Best eCommerce Ideas for Your Store in 2024
So, what exactly are some of the current best selling eCommerce products? Here are 10 product niches with strong sales in early 2024:
Beauty and Cosmetics
Beauty and cosmetics products are consistently in high demand. This has only increased since the pandemic as people have more time to take care of themselves. Some of the best beauty products in 2024 are skincare items, cosmetic tools, and products with natural ingredients. No matter what beauty product you sell, you’ll have the ability to grow your audience and drive traffic to your products by marketing on platforms like Instagram and TikTok.
Here’s a snapshot of the Green Mask Stick Amazon product score, using AMZScout:
Sporting Goods
Sporting goods are an excellent product for those looking to break into the health and fitness market. After being cooped up inside for so long, many are looking to engage in more physical activity whether it’s exercising or participating in a sport. Some of the best sports items to sell online include yoga mats, water bottles, compression socks, and bike pumps.
Jewelry
Jewelry has always been in strong demand and this trend won’t change any time soon. As a seller, jewelry is an ideal niche as the products are easy to source and small in size, making them cheap to ship. Plus, there are numerous jewelry items you can sell to grow your business including earrings, bracelets, rings, and necklaces.
Keep in mind, that only certain jewelry products are available to new Amazon sellers. Items that are considered “fine jewelry” are in a restricted category and you’ll need approval to sell them.
Home Textiles
Home goods are one of the most popular eCommerce products, particularly on Amazon. Home textiles are a great way to break into the niche as they have high demand and relatively low competition. Some good ideas for home textiles products include blankets, table linens, and sheets.
Kitchen Utensils and Gadgets
Kitchen items are another popular home based product. Their demand has risen recently as people have had more time to prepare meals at home. This category is also easy to source with tons of high-quality, small-sized items. Popular kitchen products to sell online include reusable straws, silicone utensils, butter spreader knives, cleaning brushes, and muffin molds.
Here’s a snapshot of the Wooden Utensils product Amazon sales history, using AMZScout:
Clothing
A list of top products wouldn’t be complete without clothing. People love to shop for new clothes and with eCommerce becoming the norm, many have transitioned from buying their favorite outfits at malls and other in-person stores.
There are plenty of subcategories in the clothing niche. After you establish an initial successful product, you can easily build a strong brand by expanding your collection to include complementary items.
Eco-Friendly Goods
Eco-friendly products are set to explode in 2024 as people continue to monitor their impact on the environment. As a seller, you can capitalize on this demand while simultaneously doing your part to support sustainability. Examples of good eco-friendly products include cleaning products, produce bags, food containers, safety razors.
Healthy Food
As people become more health conscious, they need food that matches their lifestyle. It is for this reason that healthy foods are becoming more popular. Some of the best health foods to sell online are chia seeds, quinoa, dark chocolate, and whole grains.
Note, that if you want to sell food on a marketplace like Amazon, you will need to get approval as it's a gated category. You will also need to adhere to specific packaging requirements.
Wallets and Handbags
Wallets and handbags help us store and transport our valuables. These products have seen shifting trends in recent years as many consumers look for smaller, less bulky wallets that fit better in their pockets. There are plenty of ways to make stand out wallets and handbags whether it is using unique materials or adding appealing designs to the exterior.
Toys
Toys are a niche with strong demand as kids make up a large part of the consumer market. The niche sees even higher demand around Black Friday and the holidays when parents shop for gifts for their children. Some of the best toys to sell online are card games, puzzles, play sets, and STEAM toys.
Here’s a snapshot of the Kinetic Sand product Amazon sales history, using AMZScout:
Conclusion
Ecommerce remains one of the best business models in 2024. While the opportunity is strong, you need a sound strategy in order to be successful. It starts with research and finding a winning product idea. From there you can source a product that customers love and grow your business through effective marketing.
