Best eCommerce Business Ideas For The Holiday Season

The COVID-19 virus is no less than a black hole to us. It ruthlessly ate all the months from this year and it seems like we have jumped from New Year 2020 to the year-end festive season directly.

But, the good part is that the festive season has brought countless business opportunities for aspiring entrepreneurs. On the other hand, it is also a great time for brick and mortar businesses to go online. Here is ‘What to Expect for Holiday Season 2020’ (Source: www.criteo.com)

All gift-givers and holiday shoppers will lean on eCommerce

According to data from 14,000 retailers globally, Criteo found that online retail sales were 30% higher in America amidst the outbreak. Increased eCommerce sales during the coronavirus outbreak also indicate that consumers are now familiar with new eCommerce websites and will likely visit them again for the festive season.

Driving loyalty from new online shoppers will be a big opportunity.

Consumers discovered new favourites during lockdown across online brand websites. So, there are high chances that they’ll keep going back if they were happy with the product and the experience.

Apps will influence holiday shoppers across every stage of the funnel.

“In the first half of 2020, retailers experienced holiday-like traffic and sales via digital commerce. We predict these unprecedented levels will stick around through December.” - Salesforce

So, what are the most profitable eCommerce businesses to start during this festive season? Let’s explore one by one!

Handmade Crafts Marketplace

Every year, the demand for hand-made gifts goes up during the festive season. According to retailers, the demand for handicrafts and handmade gifts is witnessing a phenomenal growth with increased awareness and availability of multiple online platforms to sell these products. This a win-win situation not just for the retailers but for the artisans as well.

The COVID-19 outbreak has impacted the local businesses, especially artisans and craftsmen miserably. The key player of the eCommerce industry, Amazon (India) came in the support of the Artisans by launching a Handicrafts Mela. They knew that the sales of these handmade products would escalate during the festive season.

Ahead of the festive season, Amazon India announced the launch of a ‘Handicrafts Mela.’

The intent of this mela was to showcase over 55,000 unique products across 270+ art and craft forms from various parts of the country. Over 8 lakh artisans and weavers associated with 1500 Karigar sellers and 17 Government Emporiums were benefited from this Mela.

Do you still need more reasons to start an eCommerce marketplace like Etsy? With festivals like Halloween, Thanksgiving and Christmas around the corner, you can launch a website for handmade products. This business would not just help you earn good profits but this way you will be supporting the local businesses as well.

Grocery eCommerce Marketplace

Online Grocery Store business should be officially declared as the most profitable business idea for 2020. Why? Let the numbers speak:

This is what the pandemic has done to this industry. Online Grocery is one of the very few businesses that were benefited due to the outbreak. So, what else can we expect from the festive season? Another spike up, I must say!

Little or more, but all the festivals are somehow connected to food and cuisine. Everything keeps changing according to the festival but one thing always remains the same — our unconditional love for FOOD! So, why not make some business out of this? Grocery is something that people buy every day and they tend to buy more of it when there is any sort of celebration.

No doubt, starting an Online Grocery Marketplace could be the best decision you can make in 2020!

Wine & Liquor Marketplace

The BOOZIEST holidays are here!

Wine and Dine go hand in hand; we know how much people enjoy these alcoholic drinks during any sort of celebrations. Did you know? The average alcohol consumption on festivals rises nearly 30% when it falls on Friday or Saturday. And guess what, this year, Halloween is falling on Saturday and Christmas is on Friday.

No wonder, launching an Online Liquor & Wine Marketplace around a festival can help you earn a fortune.

Read How to Build Online Liquor, Wine, and Alcohol Delivery Marketplace? if you want to learn more about this profitable business niche. This marketplace also covers numerous challenges (with solutions) that you might encounter while starting a liquor eCommerce business.

Digital Goods Marketplace

Digital products are the intangible goods that exist in digital form. These products include digital media, such as e-books, downloadable music, internet radio, internet television, and whatnot.

So many things have changed in the last few years, the digital world came into existence. We have developed numerous ways to replace physical products with digital products. For instance, hardcover books became e-books and now we have the option of audiobooks as well. CD, VCR, and cassettes are out of trend as now we can download music/video on our devices. Similarly, the hard copy photographs are now digital pictures.

Digital products are the FUTURE, so everyone is going to adopt them sooner or later. The festive season is the best opportunity for people to upgrade themselves and gift their loved ones something that is the real need of today’s world. Launching a digital products marketplace is a real deal not just for the present, but for the future as well.

Related: The Need For Digital Goods Marketplace In The Current Market Scenario

Fashion & Apparel Marketplace

Fashion never goes out of fashion!

The fashion and apparel industry might have experienced a drop in sales amidst the outbreak but, we all know that it will bounce back. The global fashion industry is moving towards the final phase of digital adoption. The fashion eCommerce industry has witnessed growth in major countries across the globe.

Here’s a quick overview of Fashion eCommerce Industry:

• With a market volume of US$348,700 Million in 2020, most revenue is generated in China
• In the Fashion segment, 30% of the total market revenue will be generated through online sales by 2024.
• The average revenue per user (ARPU) in the Apparel segment amounts to US$172.23 in 2020.

Take a look at the following image for more insights:

This festive season, the number of people shopping online for fashion and apparel products will increase. This is because people who have explored eCommerce for the first time due to the pandemic will also be considering shopping online. Trying and buying such products from brick and mortar stores does not seem safe even now.

Now is the right time to launch an online fashion and apparel marketplace. Get ready and set up your eCommerce website for the very fortunate holiday shopping season!

In a Nutshell,

Investing in the eCommerce industry at this time could help you earn a fortune. Not to mention, these businesses will not just benefit you during the festive or holiday season, but they will run smoothly during the rest of the calendar year too. It’s just that the festive season is the perfect time to launch your online business to give it a powerful boost.

If you don’t want to start a niche-specific vertical marketplace then you can also launch a horizontal or global marketplace like Amazon. Since Amazon is a multi-vendor eCommerce website, you can start a similar business using a ready-made solution like Yo!Kart and sell products from all the above-mentioned segments at one place.

Still confused between horizontal, vertical and global marketplaces? Read this insightful blog for more clarity on the types of eCommerce marketplaces — Types of Online Marketplaces: Horizontal vs Vertical vs Global eCommerce Marketplace

____________________________________________________Originally published at https://medium.com/yokart-ecommerce-multi-vendor-marketplace/top-online-ecommerce-marketplace-business-ideas-7168af4b7f09