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With the economy struggling now more than ever and the cost of living becoming unbearable, side hustles are a concept in just about everyone’s mind. It’s almost essential to find ways to make an extra income without impacting primary employment.
With this, e-commerce startups are popping up everywhere. Launching an online store is one of the most affordable business ideas around. Not only can you build an online store with just about no capital, but you can also run an e-commerce store with minimal effort. Even though you will need to find a same-day freight service and craft a professional website, these costs are exceptionally low.
Nevertheless, you will still need to choose a particular niche that has the potential to be profitable. So, we’ve rounded up five of the most lucrative e-commerce startup ideas for 2023.
Subscription boxes are genuinely a gift that keeps on giving. These boxes can be filled with anything from books and arts and crafts supplies to socks and self-care goodies. You could even opt for gourmet foods, fitness gear, or fashionable accessories. But when deciding what you will fill your subscription boxes with, it’s key to pick a niche and stick to it.
With that said, subscription boxes are an excellent choice because one sale can span over three to six months. With this, you won’t be selling single boxes but multiple. Your chances of retaining loyal customers are also higher than when selling individual products.
From personalized pens and custom coffee mugs to a world of corporate gifts, personalized products tend to sell well.
However, customized products do require a bit more effort. You will need to personalize each product to complement the customer’s requests, which means you can’t just ship orders out. Even so, because these products sell well, the small extra effort will go a long way in generating extra income.
Health And Wellness Products
Health and wellness products like vitamins, fitness equipment, supplements, and even natural herbal remedies are another lucrative option. The health and wellness industry is growing with the health-conscious consumer market, which means more and more people are realizing the importance of healthy, organic products.
It’s no secret that pets are the new children, and plants are the new pets. As younger generations realize children are unaffordable, pet parenting is a new trend that’s quickly taken over.
As a result, selling pet supplies online is an exceptionally lucrative idea. Not only can you sell hand-made toys and treats, but you can also re-sell products at a small markup to make a reasonable profit.
E-Learning And Online Courses
If you want to sell products online without any of the shipping or delivery hassles, you could sell digital products. E-learning and online courses can also be re-sold. So you can sell the same course over and over. This means your profit per single product will keep increasing over time.
Other digital products that sell well include digital books, coloring books, children’s activity books, and more.