Within the first two years, 80% of internet enterprises fail. A new company frequently fails to take off for various reasons, including a lack of expertise or understanding. But occasionally, a new company consolidates even if the beginning circumstances were the same or worse. Wholly why? Again, a variety of elements are involved. One of them, the selection of a product, is what we are discussing with you today. Even with limited experience or technical expertise, running a firm may be viable by picking a strong niche market. You’re on the correct track if you work and use the right tools. We considered providing you with suggestions for goods to sell as a way of helping you out.
Why is it crucial to know which items are the most popular ones on the Internet?
It is advisable to remember the following when starting an online store: there must be a market for your items. Investing in an internet business wastes money if no one buys your stuff. La Palice: Is It True? I’m unsure. Looking at the internet will demonstrate that there are many online businesses where it is reasonable to ask how the concept of selling these things originated to them. Another factor that must be considered is that online sales are unrelated to offline sales.
Physical sale ≠ Online sale
A product’s popularity in physical stores does not necessarily translate to its popularity online, and vice versa. The six top-selling items on the Internet are shown to you so you don’t pick the wrong industry or target market for your online business. Demand is certain, but let’s face it—competition is also.
1. Fashion items in 2023
Surprisingly, in practically every nation, the fashion industry is the one that sells the most goods. Fashion dominates internet sales even though it is a sensitive commodity, and sizes might vary from brand to brand. The improvement in product returns is mostly to blame for the rise in demand in this e-commerce industry. In the past, only some individuals would chance purchasing a shirt, pair of jeans, or jacket after first making sure they would fit. Today, practically all retailers provide free returns. You can try on your items at home without waiting in line, and you may return them if they don’t fit. Fashion is quite popular… But is entering this industry worthwhile? Keep reading attentively.
The advantages and disadvantages of creating an e-commerce in the fashion sector
Be careful not to act on your initial instinct. When you get an idea, attempt to step back from the feelings it conjures up and evaluate it objectively. To whom shall I sell? How will I connect with my audience?
Disadvantages
- Very general: The word “fashion” is quite broad. Behind this term, there are many different kinds of fashion. You will undoubtedly fail if you scatter yourself.
- Market saturation: If the products that sell the most online are fashion-related, you might anticipate facing fierce competition.
- Technical challenge: Does your knowledge of fashion extend beyond flipping through Vogue in the waiting room at the doctor’s office? Do you understand patterns, materials, and suppliers? Despite the fact that it is an extremely popular product online, you will need to have some expertise.
- Risk of returns: Online shoppers are accustomed to nearly completely being able to return their purchases without providing any justification. Large online fashion stores work like this, and it’s an additional challenge for a new e-commerce business.
But the picture is not all black. Now let’s see the advantages of this sector, which is so popular on the Internet.
Benefits
- Lots of purchases : The most popular items on the market are clothing and fashion in general since consumers are no longer hesitant to purchase them online. Other industries experience more obstinate consumers, but not this one.
- Technology makes life simpler: you may present your content to their best advantage using the video and photo solutions that are now accessible on the market. “As if you were there”.
- The market is dynamic: there are continuously emerging new items and trends to investigate. This is advantageous for a content marketing plan.
A few tips before moving on to the next product on the list of best-selling items on the Internet:
- Specialize as much as possible:
Don’t open a second clothes store, hunt for a particular look, select a specific piece of clothing, or even a specific model from one company. Moreover, excel in that field. - Start with dropshipping or affiliation: if you don’t want to invest in inventory, opt for one of these two options. They allow you to have a store without investing in equipment. If you’re thinking about opening a store like this, read this post on selling without inventory or this one detailing what dropshipping is.
2. Travel and experiences
The tourist industry is one that has successfully responded to the change in internet buying. When was the last time you waited in line to purchase an airline ticket, make hotel reservations, or handle any other travel-related business? Yes, a long period has passed. In addition, costs are becoming more and more competitive due to the abundance of price comparison websites. The days when we visited travel agents are long gone. We now plan our travel from the comfort of our sofa using a computer.
And although the COVID-19 crisis has caused damage to the sector, it is now rising from the ashes.
Are you thinking of starting an e-commerce related to travel and tourism?
There are good and bad sides
Travel is wonderful. Not accurate? You probably adore traveling if you run to the newsstand the moment the newest issue of Traveler is released and your living room shelves are stacked high with Lonely Planet books. This is true; however, keep in mind that appreciating travel does not automatically translate into liking to sell travel-related goods. In this business, everyone is buying online, yet several companies have been scooping the majority of the pie for years. Although it is hard to outperform them in terms of SEO positioning, content production, or customer service, all is not lost.
Trends in the travel and tourism sector
The pattern of the fashion industry repeats itself. Sustainability is becoming a concern for frequent travelers. Just look at the growing number of searches for the term “sustainable accommodation” that have been carried out in recent years:
Concerning experiences, more and more people are opting for a “local experience”.
The priority is no longer to visit all the iconic monuments appearing in tourist guides, but rather to immerse yourself in the local culture. This trend also has a name: “authentic-seeking”. Another concept that should no longer be unknown to you is “solo travel”.
Since 2020, the number of people preferring to travel alone and purchasing individual experiences has increased.
3. Technology products
It’s amazing that technological items don’t reach their peak first, isn’t it? One of the things that may make the transaction take longer is the warranty. Purchasing a technical item from a physical store boosts confidence since the retailer will be on hand to fix the item in the case of a malfunction. We like to believe that a “real” person would look after us if something goes wrong. This a priori trust does not help an online shop. She must merit it. Without earning and developing that trust through an effective marketing plan, you cannot have it online. BQ, for instance, has a great reputation on the Spanish market because of its strong guarantee.
Our advice for getting started in this sector
We do not suggest that you construct your technological e-commerce with your own product unless you are named Steve Jobs, you are a creative genius, and you began your firm in a garage in Silicon Valley. The fact that there is a sizable supply and that technology is developing quickly are good aspects of this third industry. A content marketing approach based on the research of recent market trends would be excellent in this circumstance. The drawback, once more, is the availability of powerful blogs and websites processing a lot of online transactions and releasing reports and product comparisons. Few individuals are competent in developing technical items; thus, in this situation, optimizing your website relies on affiliation and advertising.
Affiliate marketing is analyzing other people’s items and referring them to a third-party sales page to earn a fee. If you want to understand more about affiliate marketing, read this article. Specialization is crucial once more. Instead of covering every device on the market, you should focus on Samsung tablets above “X” dollars if you want to lessen competition and establish yourself as an authority.
Which technology-related specialization should you choose? Best-selling books
Corded headphones are going away. The convenience of wireless headphones is rising, as is the desire for them. For instance, during the past five years, searches for “AirPods” have changed in this manner on a worldwide scale. Smart gadgets are another example of a hot item. Today, no one can fathom living without a smartphone, but additional necessities are already being added to the list, such as smartwatches, whose sales soar, in particular, from Black Friday through Christmas. The demand for this sort of device’s accessories (shells, protecting screens, etc.) is also rising at the same time. The good news is that you have a lot of possibilities for specialization because this industry is so large.
4. Sale of second-hand products
Even if eBay is no longer what it once was, secondhand goods continue to be a popular topic on the Internet. Finding a product in decent condition for half the price in real stores is not always simple. In addition, there are a variety of used goods available, including apparel, books, automobiles, event tickets, and electronics. The demographic group with medium-high incomes has also seen an increase in the demand for used goods. Purchasing old goods is not anymore related to a lack of money. Style and a preference for high-quality goods over those that are “made in China” might also come into play. This shift has been considerably accelerated by technology. As a result, LeBonCoin has witnessed the growth of rival programs like “Gens de Confiance” (an upmarket version of LeBonCoin, where you may enter only by co-optation) or “I want 1 thing”. In France, one-off sales are rarely taxed (however, they are taxed in certain special cases, when the sale exceeds €5,000 and only for certain types of products).
The most sought-after products on the second-hand market.
One of the big winners is undoubtedly the fashion sector.
According to the ThredUp brand , this market could grow by around 126% between 2022 and 2026.
It is closely followed by reconditioned technological products, and more particularly, mobile phones.
Moreover, an interesting fact: among the main platforms for selling second-hand products, the most used by far is Amazon.
How about launching a second-hand products marketplace? 😉
5. Music and books
Another product category that might have been expected to rank higher on the list. Nevertheless, considering the prevalence of illegal downloads, encompassing both music and books, securing a fifth place is already quite commendable. This achievement is partly attributable to the drop in prices, a consequence of reduced distribution costs, enabling the purchase of books for as low as €1 and individual song selections from albums. Furthermore, the growing trend toward electronic books suggests a potential rise in their rankings in the years to come. Over time, the landscape of this industry has undergone significant transformation, particularly in the realm of online music acquisition. The continued success of books and CDs in the best-selling product category is attributed to the emergence of new market players like iTunes, Spotify, and Amazon with its Kindle.
What can you sell in this sector
The sale of music, books, or movies has a significant drawback because there are already a large number of platforms that provide access to these items at extremely low costs or even for free (without mentioning the issues with piracy that we already highlighted). This does not imply that there are no lessons to be drawn from it, either. But it would be wise to broaden your portfolio with complementing goods if you wish to enter the cultural area, such as:
- Digital books.
- Speakers (smart versions like Alexa have established themselves).
- Headphones (we’ve seen that wireless versions are here to stay).
That is to say, all the devices that your customers will need so that they can enjoy their favorite book or song. You will be able to implement additional sales strategies and generate revenue through different channels.
6. Online courses and training
The popularity of e-learning is apparent. Numerous online learning systems have evolved, including Udemy and Video2Brain (recently bought by LinkedIn). Comparing more specialized training (a university or master’s degree) versus more broad training (a job), it appears that the latter is gaining ground. It is only natural that online training is becoming more and more well-liked as we find ourselves in a scenario where finding a job is getting harder. One of the most significant changes is that participants are less wary of training that does not include or depend on a certificate. We clarify. Perhaps we have seen too many Master’s degree holders who lack sufficient knowledge of the working world. The empire of titles ruled the training industry for many years.
Luckily, users are training more and more online. This is non-standardized training, and we are convinced that it has a bright future ahead of it. In addition, the bar is not high for entry. Positive, right? Keep reading.
Are you considering entering the online training sphere?
The advent of knowledge dissemination, often referred to as democratization, is still in its infancy. However, one of the potential pitfalls lies in the low entry threshold. All that’s required is a website, a handful of videos, and some reviews, making it accessible to almost anyone to offer online training. Does this guarantee quality? It’s challenging to determine in advance. The risk associated with the proliferation of subpar courses is that it may breed skepticism among potential learners. Nevertheless, if your offering is of high quality, the market will acknowledge it. If you plan to sell online courses, you must place emphasis on the following aspects:
- Implementing a robust Inbound Marketing strategy.
- Crafting a compelling editorial direction.
- Building a substantial subscriber base.
- Developing an email marketing strategy that bolsters your brand and fosters customer engagement.
The most popular online training courses
There are many online training portals.
And although it may vary depending on the portal, most agree that the best-selling courses are those relating to:
- To digital marketing.
- Programming (including blockchain , the language of cryptocurrencies ).
- To artificial intelligence and machine learning.
- To analysis and big data.
- In photography, image and video editing (could there be a link with the rise of social networks such as Instagram or TikTok ?). 😉
Conclusions: Is it advisable to launch an online store for any of these products?
The answer might appear clear-cut. With such a substantial demand, the indications point towards a yes. However, this extensive demand also ushers in significant competition. Consider the sheer number of:
- Fashion stores.
- Travel comparison platforms.
- Technology retailers.
- Music and book shops.
- Educational websites.
And the list goes on. To succeed in any of these sectors, there’s no secret formula: differentiation and specialization are essential. Entering a mature and broad market, such as the ones we’ve mentioned, isn’t a feasible endeavor for just anyone.