Be your own competition, adapt novel ideas and win the race of eCommerce
Are you a top-notch seller? How your products & services are distinct from others? What’s unique about your brand? Why should we buy from you?
Well, there are numerous questions like this, which are sure to come. But, before someone else ask them from you, it’s better that you ask it yourself.
As a business, you always want to be successful, but that doesn’t happen in a day. Also, if you are successful today, you may not have the same phase the other day. When you are selling online as an eCommerce business, you need to be updated. With the arrival of so many trends, what’s working today may not be working tomorrow!
Your work as a business is never done, and you can’t just sit back and relax. You always have to check with the trends that can make you survive in the industry. When following the trends, do evaluate their long term impacts as well.
How to Win your competition?
In the race of everyone trying to be the best, it isn’t easy to stay ahead and stay unique. But that’s what the competition is all about. Don’t prepare on the verge of winning and losing, instead focus on offering the best services to your customers to improve customer experience.
Here are the essential tidbits that you must always try to make your position stronger in the industry:
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Grow your network as a business:
We are not talking about the expansion of your target audience or the customer base, but it’s about your supply chain. When you’re taking your baby steps in the market, you may not be much aware of the wholesale market and B2B suppliers. But, gradually, you will be able to get a grip on the market. When your supply chain is well managed, you will be able to maximize your profit margin. Don’t rely on a single supplier. Remember that you must have options, as you shouldn’t be stuck anywhere. Gradually, when you explore the market, you will surely be able to improvise your supply chain.
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Stay tuned to your competitors:
We are not telling you to follow each and everything that your competitor is doing, but just keep-an-eye. Not every tactic will work equally well. However, it can give a new perspective that you can utilize to make some new ideas. Don’t copy the things; else you may face the issues of plagiarism and trademark. Just take the critical idea and see how full-filling it is, and it can be for your business.
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Let trending technologies upgrade your customer service:
As the owner of the business, the most important thing is surely sales. However, when you think of a long-term perspective, you will find that having a satisfied customer is much more critical. A happy customer likely shares words with their friends and family and that can help you gain more customers. That’s why try your best to upgrade your customer experience. Technology made it a lot easier for you to understand and address your customers. Leveraging trending technologies like Artificial Intelligence (AI) to understand your target audience, AR/VR to personalize the customer experience, chatbots to connect with your customers, and a lot many software solutions to streamline your business activities.
Niche eCommerce business ideas to create competition
When your business is in the market, so is the competition. Making a monopoly business isn’t easy these days, but here are some of the niche business ideas that you can count on to stand ahead of your competition. Even if you are serving the same industry, you can adapt these as additional ideas to explore more options for growth.
1. Eco-friendly paper toiletries for babies:
With every other person talking about saving the planet from polythene and plastic wastes, now your babies can also contribute to it.
With over 80 million babies by 2020 in the US itself, you can consider that none else is needed to save the environment! Well, jokes apart; like Bundle Baby, you can also take the initiative to make and sell paper toiletries for babies. This way, you won’t be only counting the profit score but also help in saving our planet earth from disposable diapers that keep emitting methane for 500 years or more.
Lately, you can add numerous other eco-friendly product categories to your business to upsell, cross-sell, and create subscription-based services for such biodegradable products.
2. Help pet owners pampering their new family member:
Do you belong to the category of cat adorers, or are you a dog person? This is something you are going to be asked even when you are chatting with some new people.
It’s a trend now to adopt a pet and raise them as a new family member. If you are one of the pet lovers, you know what I mean to say here. You can’t stop yourself from becoming addicted to the love they shower upon you.
As a part of showing the same affection to the pets, you will find pet owners looking for toys as well as handmade products. You can also knock in the pet food production industry to encourage pet owners for premium pet food products. The industry in this sector is growing steadily. The best thing about getting into this business is you can create the subscription-based packages that can make your business grow on monthly terms. The regular user base can improve your customer lifetime value.
3. Natural Skin Care Products for Men & Women
Chemicals have always been harmful to the skin, especially in the long run. With the current trend of organic now, people are more inclined towards chemical-free products. This is one of the leading business niches that you can count on. If you are a manufacturer, you will gradually find that the overall cost of manufacturing the product is not that high, but the profit rate is benefiting. You can make the kits, including facial oil, mineral sunscreen, cleansers, toner, body scrub, and several other skincare products. Beauty products are always in trend, so you won’t be in loss anyway. You can market the private label products under this niche and can witness the growth of 10% every year. The market for organic skin care products is expected to cross the figure of $22 billion by 2024.
4. Rent High-Ended Fashion products
Are you the one who thinks that you must rent your wedding lehenga to other brides who are budget conscious?
If you haven’t thought of it, then I believe that you should!
Yes, it may sound vague for a moment, or if you never participated in fancy dress competition, you never knew about the concept of renting a dress, but it is in trend now. All of us have some heavy budget dresses that we especially took for certain occasions and then you never get the chance to wear them. In today’s time, when you want to get the unique pictures on every occasion, you surely not like to wear these heavy dresses in repeat mode. So, what are you going to do with them? Mostly, they just stay in your cupboard’s shelf until you don’t want to leave them.
However, with the online market opportunities, you can create a platform for numerous other fashionistas like you and help them stay fashionable without actually paying the handsome money for that dress. You can rent it for a couple of days and get the most out of this business.
5. Go gluten-free
Some people are allergic to gluten, and it’s always been like this. Since the celebs are talking about this, now gluten-free foodstuff is in the craze. Taking this as an opportunity, you can add gluten-free diet products to people who are enthusiastic about it. Though this will need some initial investment, you can make most of it by selling white label products. You surely have to research a bit about it. The pre-packaged food and snacks with the gluten-free tag can surely add good chances for you to explore. If you are already serving in the food industry, don’t forget to check for the organic food options and gluten-free food products.
6. Personalize with handmade
Believe it or not, personalized products leave imprints in the heart of the receiver longer than the readymade products. It shows that you gave a thought to gift something to someone instead of just going to the store and buying the stuff for them. Gradually people are getting much more inclined towards the handmade products as well as the ones personalized for their loved ones. You can open your unit as a manufacturer or hire some of the artisans to work on your ideas to personalize the products. Since you are adding a personal touch to the products and customizing as per the customer’s choice, you can quote the price that’s feasible and fulfilling for your hard work.
Well, these are just some of the unique ideas that can make you stand ahead of the competitors. For sure, there is a lot that you can think of. But, don’t overthink because business is all experimentation, more you explore better ideas you get.
To take your notion to the next level, just register yourself at Builderfly, create your eCommerce store and launch your products to the market. Let your customers bring innovation in your journey.
