Although online businesses are thriving and growing by leaps and bounds every year, it’s important to note that there industries that aren’t as successful as others. That said, one should be careful with and certain about the trade or niche they dabble into.
If you’re not sure where to start, check out these 10 profitable online business industries.
Fashion is an undying industry. People will always want to buy clothes, shoes, and apparel, so there’s no lack of consumers for fashion business. Recently, more and more niche-fashion businesses are seeing tons of attention and sales in the past few years. This is because niche-fashion businesses cater to specific demographics with distinct needs and preferences that big retailers aren’t able to provide.
The success of the online fashion industry can also be attributed to the ease and speed it takes to open your own clothing store due to e-commerce platforms.
Organic Skin Care
With more information and research available to the public, people are getting more conscious about what they consume and put on their bodies. It’s no wonder why organic skin-care products are all the rage in the past few years.
Organic products are products that don’t use chemical fertilizers, pesticides, and artificial agents that can harm you and the environment. On the trend right now are organic moisturizes, serums, facial cleansers, body lotions, and sunscreen.
Handmade Accessories or Jewelry
Accessories go hand in hand with clothes. When fashion-conscious consumers buy clothes, they almost always buy accessories or jewelry to go with those. Further, these are the types of products that can be bought for personal use, but they’re also ideal gift items.
Unlike those accessories and jewelry found on department stores, handmade ones are customized and unique, making them more valuable and novel.
Deliver-on-Demand Organic Food
Organic has become a lifestyle for many people, which means using chemical-free everything, from skin care to food. Organic produce and food have been popular for years, but they’ve become more in demand lately due to people getting more educated about and conscious of their health and nutrition.
With people’s preference to shop online, deliver-on-demand organic food and groceries businesses are predicted to grow more lucrative in the years to come.
Similar to the situation with organic products, gluten-free food also came to rise due to people’s consciousness of the food that they eat and what’s in it.
Around 2012 to 2014, the gluten craze started because information was spread that the protein could cause celiac disease in some people. Plus, this craze was fueled by famous celebrities, like Gwyneth Paltrow.
Although it’s been proven that gluten only affects a small portion of people who are sensitive to it, many people are opting for gluten-free products.
People are shunning single-use plastics and turning to bamboo toothbrushes and reusable materials, including bags, straws, and utensils. More and more consumers are enlightened on the impact of plastic trash on the environment.
That is why there are movements by environmental warriors and big companies to reduce the use of single-use plastics. If you want to start an ethically responsible business, the eco-friendly industry is an excellent cause to get behind.
Handmade Pet Treats
As pet ownership continues to grow, more and more owners are spending their money to lavish their animal companions. Across generations, millennials are known for their love affair with pets.
More millennials are opting to raise a dog, cat, or other animal companions rather than have children. As the generation that’s not buying houses, many millennials say they plan to buy a home with a yard to raise their dogs in.
Their love for their pets means they are willing to invest more money to ensure their animal companions are getting healthy and nutritious food and treats. They want handmade food that is fresh or made-to-order, using ingredients that are biologically appropriate for their pets.
Even though more young people are opting to have few or no children at all, the baby-product market continues to be worth a multibillion-dollar industry. Right now, the industry is worth $6.4 billion in annual sales, but it’s expected to grow to $16.78 billion by 2025.
There are lots of opportunities for online suppliers of baby-related products, selling infant clothes and essentials. The demand for eco-friendly baby products, including food, toys, and toiletries, is also increasing every year.
There’s an increasing number of people, including students and professionals, who are looking for more accessible ways and resources to expand their knowledge and gain new skills, making online learning a lucrative industry. You don’t need to have a physical product to start a webinar business. You can bank on your expertise and that of other people to earn money.
Whether they’re for snacks, skin care, or bath essentials, box subscriptions have been growing more popular these days. The concept is nothing new, but it’s gotten a new wave of attention because of the internet and social media platforms. Box subscriptions are convenient, and many people enjoy the feeling of anticipating and receiving things they like.
The Bottom Line
Risk is part of starting a business. There’s no 100 percent guarantee that you’re going to succeed. However, if one doesn’t take a risk, there’s zero chance of achieving success in business. That doesn’t mean that you can’t minimize uncertainties and dangers, though. Choosing a lucrative niche with a market that has a lot of potential can help secure your chances.