With the latest data available on e-commerce trends and consumer confidence, there are some interesting picks for both diversification of existing businesses – and for startups. A combination of research factors were used to determine the top e-commerce opportunities globally. Some surprising business types made it to the top. Google Trends is a useful first-stop, although other macro data is essential to look beyond the obvious for opportunities that are supported by a variety of underlying factors.
The most profitable startups will be those who benefit from tapping into new mega trends, where a recurring revenue product is supported. And the winner is? Anything to do with CBD!
Based on solid research, here is a list you can take seriously:
1. Become a CBD cannabidiol retailer online:
With new legislation in the US making CBD hemp oil legal, more Doctors than ever will suggest this as a viable alternative to their patients. Whether CBD is sold alongside a variety of health products, or as a single range of CBD products, the demand is incredibly strong. Research have shown that there is more than 3 million Google searches per month in the US alone, pertaining to specific health conditions for which CBD is now used. This includes epilepsy, Alzheimers’, stress, anxiety, pain management, and much more.
Tapping into this business via a white label CBD solution is desirable for those seeking to roll out new Ebay & Amazon storefronts, as well as conventional retailers who seek to establish other supply chain routes. Even affiliate marketing is a viable route these days. Edmon Mamane, the CEO of Terravida recently said: “As manufacturers and wholesalers of CBD, we enable entrepreneurs in the US and around the world to sell some of the purest certified CBD cannabidiol products, which millions of patients will eventually rely on. The government just removed major barriers to entry for the industry – and now Terravida is doing that for smart entrepreneurs”.
The level of ease with which such a business is started, combined with profitability makes this the number 1 choice right now.
2. Start a white-label or own fashion brand
Consumer behavior finally shifted. The idea of retail therapy in a physical location such as a mall got wings: people now do this from home – and feel equally satisfied. Smart entrepreneurs will evaluate and research their best strategy for this. It usually include investing in websites, Ebay & Amazon storefronts – and building massive social proof with great service delivery and reviews. Investing in marketing simply to push a clothing brand you do not own, is no longer appealing: but white-labeling a brand is. This is because an owned brand is more resistant to “like for like” comparison shopping and enable more differentiation.
Tapping into this opportunity may require a few trips to places like Mexico, China, India or Europe. This way, a new retailer can establish exclusive relationships and seek out better white-label opportunities.
3. Entering the iGaming or Forex trading industries:
A little known secret is that companies like Betson (Europe) and FXPro, Alpari, TDMarkets and Saxobank earn substantial profits by providing consumers with “games of chance” type services. Whether this comes in the form of a game, a bet – or even related to financial instruments (such as forex & CFD betting), it is hugely popular across the globe. Whilst participating in many of these activities is not legal in the US – for consumers, owning such a business is entirely lawful.
Tapping into this opportunity may require a few trips to places like Malta, St. Vincent and Cyprus, to meet some key players in the industry – and to learn how these businesses work both in terms of a regulatory and practical perspective. This is not the easiest business to enter, but the opportunity is still rather significant due to the fact that these activities are habit forming for consumers.
4. Pet products and services
We always think in terms of population boom when researching markets. However the mere shift in consumer behavior patterns itself, is something to consider. In most of the US and Europe, things like organic pet food, CBD infused pet food, pet hotels, pet grooming – are all taking off. The new “moral high” these days is for people to demonstrate how much they care for animals and let their friends know. It is also contagious as images and videos are shared socially. It goes deeper than this: people also keep pets when they their children leave the house, for medical reasons and much more. The trend is predicted to accelerate thanks to the increase in median age across the US and Europe.
5. Cybersecurity consulting and training:
The US is facing peak cybersecurity demand – which will only increase (Read this government report). There is already a shortage of professionals in this industry, where consulting fees and labor costs are skyrocketing. As Christian Espinosa, the CEO of Alpine Security said recently: “The federal government has the funds, scale, and infrastructure to reduce risk considerably. The bigger challenge is smaller firms – especially those that operate in key industries such as healthcare, who underestimate the importance of a proactive cybersecurity strategy”.
About this as a business or career opportunity: It is not limited to E-commerce, as cybersecurity now stretches across multiple layers of society.
Tapping into this opportunity: Your only investment will be in yourself, getting qualified. A COMPTIA security + qualification is considered the best start. You can work in this industry for some time doing consulting and eventually evolve to a position of cybersecurity trainer.
Putting key trends into perspective:
Some of the research tools used to help retailers select trending, in-demand products and services, go beyond Google keywords and trends. Tools that enable an understanding of consumer demand across Amazon, Ebay and Alibaba, as well as ratios between demand and supply are more reliable. Needless to say, products and services with a high customer lifetime value (LTV) and recurring purchases ranked higher. For example, battery scooters are great in-demand products, yet products such as CBD cannabidiol, subscription e-learning and fintech services outranked it by far simply for this reason. Trends backed by recent changes in the law that is “PRO the trend”, are of particular interest.
Studying trends and understanding when new opportunities pop up can make a difference in the success of a new venture. There are many routes available. For example, activities like Dropshipping and white-labeling are known as an easy way into new markets, especially where startups focus on a marketing ecosystem, leaving other partners to focus on supply and delivery. These concepts also extend to the services industry, where fulfillment can be outsourced. Services – and virtual service businesses, such as cybersecurity etc. represent a phenomenal opportunity too. Finally, one has to consider not only what is currently trending, but which businesses are most likely to provide a good run for the next 5 to 10 years. Jeff Bezos and Amazon are not the only smart entrepreneurs who make life easy for others: seeking out wholesalers who facilitate an easy way in for start-ups and fast-moving strategic partners is another piece of independent research to embark on.