Thinking of Starting a Business? Click On Specialized Online Retail
Online shoppers are searching--for high-priced, niche goods.
thirdfloorcloset/Flickr
E-commerce is nothing new.
What is new is what shoppers are looking for: deals on an ever-widening spectrum of niche items--custom-cut button-down shirts to personalized greeting cards, made-to-order eyeglasses to vintage furniture. Look to fast-growing sectors such as fashion sample sales, greeting cards, and photo printing.
Yes, it's still growing--a lot.
Sample sale site revenue grew almost 50 percent from 2007 to 2012 and is projected to increase 12 percent a year through 2017. Online greeting card revenue is projected to grow 6 percent a year through 2017.
kitschy, customizable options in areas like greeting cards are striking an emotional chord with young, tech-savvy consumers--and commanding high prices.
...But forget shoes
There are 1,166 online shoe sellers; two of them own a 16 percent share. Find a less crowded niche, and carve out a specialty.
Tech savvy matters
Getting attention can be expensive—so you'll need to find the best IT talent to develop your retail site.
Bootstrapping is common...
...but established retailers are buying. Think Thrillist's acquisition of trendy men's fashion site JackThreads.com and Shutterfly's purchase of stationery company Tiny Prints.
Ideal prior job?
Techie with an eye for flair and care. Remember Zappos's 365-day return policy: Successful e-tailers provide great customer service.
