The Most Simple Yet Lucrative E-Commerce Business Ideas You Should Try

By Full Editorial

Whether you are looking to do business with other businesses or directly with consumers, there are multiple reasons to invest in e-commerce. According to recent US survey data, 39% of manufacturers invested in e-commerce to enhance revenue growth, 38% to enhance business efficiency, and 34% to keep up with customer needs and reduce costs.

There are several simple ideas business owners can use to get the most out of their e-commerce business.

Get On Social Media

According to 2021 US survey data, more than nine out of ten business executives in the US agreed, to varying degrees, to moving their e-commerce efforts to social media. Of these, 73% already sold their products or services via social media platforms.

Choose the Right Products

If your business is retail based, certain items fare better than others in the e-commerce context. It may be a good idea to focus your business on these items. According to 2019 data, published in 2021, 4.7% of clothing and accessories sales took place online but only 0.3% of health and personal care items. For leading e-commerce retailers such as Amazon, 92% of e-commerce sales were made up of home furniture, decor, computer software and audio and video recordings.

Make The Most of The Holiday Season

E-commerce based shopping peaked during holiday seasons in 2020. Black Friday and Cyber Monday were the holiday shopping days with the highest amounts of e-commerce sales. Increasing advertising and promotions during these periods could increase the revenue of your e-commerce business.

Formalising Your E-Commerce Business

If you believe you have a lucrative e-commerce business idea and are ready to hit the ground running, you may want to register your business as a limited liability company (LLC).

Incorporating an LLC can be complicated. It may therefore be advisable to enlist the assistance of an LLC formation service. One of the top nine rated LLC formation companies may be able to assist.

ZenBusiness

ZenBusiness charges a 39$ formation fee, which includes a year’s worth of registered agent services and a risk free accounting consultation session.

Incfile

Incfile’s LLC formation services, including a year of registered agent services, are free of charge and their customer service feedback is outstanding.

Northwest Registered Agent

While Northwest’s prices are significantly higher than other companies at $225, with this price tag comes the best customer support and a year’s worth of registered agent services.

Rocket Lawyer

Rocket Lawyer has a wealth of experience having served over 20 million customers. Their incorporation service is slightly pricier than alternative companies and does not include extras such as registered agent services. However, Rocket Lawyer offers additional legal services at $39,99 per month which, if subscribed to, obviate the need to pay the incorporation fee.

LegalZoom

LegalZoom has assisted millions of clients and has the benefit of extended customer support hours during evenings and weekends. While LegalZoom’s incorporation prices are higher than alternative companies, they offer a 100% satisfaction guarantee.