Top 7 Most Profitable eCommerce Niche to Sell in 2022
Top 7 Most Profitable eCommerce Niche to Sell in 2022
As more people get on internet-powered devices (mobile and PCs), the more eCommerce adoption grows. The global pandemic acted as a catalyst for eCommerce's explosive adoption, with global eCommerce growth spiking to 25.7% in 2020 from 20.5% in 2019, as consumers from all walks of life scrambled to find their daily needs online.
Global eCommerce had a value of $4.921 trillion in 2021, yet future projections still signal growth as we transition into 2022 and beyond. It clearly indicates that opportunities abound in eCommerce, and brands can strategically position themselves to gain from it. But doing so requires understanding and catering to consumer demand as some eCommerce niches would definitely be more profitable than others.
What Are eCommerce Niches?
Standing out in the saturated and competitive online market we find today is no easy feat. Therefore, businesses should compete in niched eCommerce segments.
An eCommerce niche is basically a smaller segment of a broader market that acts as a differentiator for eCommerce brands. For example, an eCommerce niche could be just about selling modular or rugged smartphones instead of trying to compete against swat of stores selling conventional smartphones.
With the massive growth in the eCommerce industry, different niches are popping up in various corners. eCommerce merchants are also developing innovations to make their stores stand out and drive sales. But there is the elephant in the room, which is actually choosing a profitable eCommerce niche.
Choosing the Perfect eCommerce Niche
When choosing an eCommerce niche, you have to consider; the marketplace, target audience, and the saturation in that niche. But here are a few steps to follow in finding the perfect niche for your eCommerce business:
- Identify your passion: Passion is the drive for any business. Before leaping into eCommerce, you should have a passion for business and not just be in it for short-term gains. Once you have identified your passion for business, identify a niche or niches you may want to explore.
- Identify a problem: Any niche you are going into must cater to a demand gap that needs addressing. Your brand must be solving a problem. This is what makes you stand out and differentiates you from the crowd. For example, many beauty product brands sell products for women. You could decide to fill the gap, which is beauty and skincare products for men.
- Research on your competition: Once you have identified the problem you want to solve, you have to find your competitors and see what they are doing and how you can do it differently. Although this involves a lot of research, there is always something to be done differently if you research hard enough.
- Determine its profitability: The primary aim of every business is profit. Therefore, the next question is finding out how profitable your chosen niche is and if it is rewarding enough.
- Test your idea: Run a test store. We recommend doing it, so you don't just go full in and waste your energy and resources. Create a test site using an eCommerce website builder, see what happens, and if you do it right, then you can proceed from the pilot to the actual business.
- The last step to running a profitable eCommerce niche is actually launching your brand.
If you are unsure what niches will give you high profit with the market saturation in 2021, we have selected the best seven niches to try in 2022.
Best eCommerce Niche Going into 2022
Choosing the best niche for eCommerce places businesses on the front footing, but it needs to be based on trends or consumer demand. That said, we have scoured the internet for the most searched-about items for eCommerce for the year 2022.
- Male Beauty and skincare products
There is presently a demand gap for men's beauty and skincare products as most products seem to be targeted at women. Entrepreneurs can focus on identifying products in this niche and stocking them. Everything from face scrubs, body wash, deodorants, perfumes to hair supplies, and even beard and shaving products. These are some of the men's basic needs, and an online store that has it all would become a man's heaven.
- Handmade items and jewelry
Regular items and jewelry seem to no longer be in vogue, making handcrafted products and jewelry to come into the spotlight. This niche also is deficient in the eCommerce market in terms of vendors, and going into it will be a win for eCommerce merchants.
- Hardware supplies and tools
We live in a DIY (Do It Yourself) era where all solutions to craft and home repairs can be gotten online. Every day more people are beginning to stock up on hardware and tool supplies to get the satisfaction of building and repairing stuff themselves. eCommerce brands can either create an online store dedicated to DIY tools or go further and niche down to something like building supplies or electrical tools.
- Pet products and supplies
Most pet owners love their pets and will do anything to keep them happy and healthy. As projections about the pet products and care industry see a market size going beyond $100 billion for 2022 in the U.S alone and with the number of pet owners on the rise, this niche holds potential rewards for eCommerce brands who are ready to delve into it.
- Eco-friendly products and health care products
Eco-awareness is fast becoming a way of life in the modern world. There are several public awareness campaigns on the need for eco-friendliness and sustainability in our daily lives to protect the planet, which is having a ripple effect on the demand for sustainable and bio-degradable home products. An eCommerce store dedicated to this will not only be for the good of humanity but will tap into this growing consumer network.
- Home Gym and fitness equipment
Fitness during the pandemic became one of the few things that kept some people sane as they needed something to burn out that extra energy they were not expelling. It led to the surge in searches revolving around fitness and home gyms. Some people found themselves surfing the net endlessly, looking for dumbbells, yoga mats, skipping ropes, treadmills, weight, and weight benches, and a lot more. If you are interested in fitness and know a thing or two about the ecosystem, you could jump into this and make money while promoting what you like.
- Home office equipment and home improvement supplies
Staying at home has made people take home décor and remote work to a whole new level. A beautiful space sparks creativity, which is the narrative circulating in 2022. People now see why spending on interior décor is not a waste as an appealing home is quite attractive to the mind. Home offices also became a trend that has continued to grow after the lockdown, making this niche a massive and very lucrative one.
Niching, especially in eCommerce, is a superb way to carve a space in today's saturated online market. But eCommerce brands need to choose a niche based on consumer demand and search trends instead of going solely by instinct and biased preferences.
When considering launching your brand, your chosen platform is your medium to reach the world. Whether beauty products or home décor, or fishing supplies, eCommerce all goes down to making sales, and to ensure this, you have to utilize the best eCommerce platforms.
AllValue offers eCommerce brands the best website templates and multichannel marketing functions to make your business accessible to people worldwide. For more information about how to choose the best niche market, please visit https://www.allvalue.com/en/.